Kajol Devgan Leases Luxurious Goregaon West Retail Unit for ₹8.6 Crore
Bollywood actress Kajol Devgan has recently leased a luxurious retail unit in Goregaon West, Mumbai, for a monthly rent of ₹6.9 lakh, according to property registration documents. The deal was formally recorded in November 2025, marking another significant real estate transaction involving a celebrity in the western suburbs of the city. The analysis of these documents was conducted by Square Yards through the Maharashtra Inspector General of Registration (IGR) portal.
Goregaon West has emerged as one of the fastest-evolving real estate corridors in Mumbai, thanks to its high residential and commercial density and numerous entertainment hubs. The area is well-connected by major roads such as the Western Express Highway, SV Road, Link Road, and the suburban railway line. The expansion of Mumbai Metro lines, including lines 2A and 7, has further enhanced its appeal by providing convenient north–south and east–west travel options.
The locality's proximity to established micro-markets like Andheri, Malad, and the rapidly developing Oshiwara District Centre (ODC) has also contributed to its commercial attractiveness. There has been a steady increase in the number of retail outlets, restaurant chains, boutique brands, and experiential outlets choosing to set up in the area, attracted by the high volume of customers and visibility it offers.
According to the IGR records, the leased property is Bharat Arize, located in the newly developed residential and commercial area of Goregaon West. The property has a carpet area of 1,817 sq. ft. (approximately 168 sq. m.) and includes one car parking space. The transaction resulted in the payment of a stamp duty of ₹5.61 lakh and registration charges of ₹30,000, in line with the existing registration norms of Maharashtra. The lease agreement also includes a security deposit of ₹27.61 lakh, reflecting the high value and strategic location of the commercial space.
Based on the registered documents accessed by Square Yards, the lease term is for nine years from November 2025, structured in three-year increments with periodic rent increases. The initial monthly rent of ₹6.9 lakh will be in effect for the first three years. At the end of the next three-year period, the rent will increase by 15% to approximately ₹7.9 lakh per month. In the final three-year period, the rent will be around ₹9.13 lakh per month, resulting from a second 15% increase. Over the nine-year lease, the total rent is expected to be approximately ₹8.6 crores, representing a significant yield on the asset.
The IGR documents also reveal that Kajol Devgan purchased this retail unit in March 2025 for ₹28.78 crore, further illustrating the trend of wealthy individuals and celebrities investing in commercial real estate in premium Mumbai locations. This transaction underscores the growing importance of Goregaon West as a key real estate market, attracting both high-profile investors and businesses.
