Bollywood actress Kajol Devgan has rented out a luxurious retail unit in Goregaon West, Mumbai, for a monthly rent of ₹6.9 lakh and above, as per the property registration documents. Square Yards, through the Maharashtra Inspector General of Registration (IGR) portal, has analyzed these documents. The deal was formally recorded in November 2025, thus, it is another significant real estate transaction involving a celebrity of the film industry in the western suburbs of the city.
The residential and commercial density, along with the entertainment hubs, have been the main factors behind the rise of Goregaon West as one of the fastest-evolving real estate corridors in Mumbai. The area is well-linked by the Western Express Highway, SV Road, Link Road, and the suburban railway line. With the expansion of Mumbai Metro lines such as 2A and 7 that facilitate north–south and east–west travel, Goregaon West is gaining popularity among both the working professionals and the businesses that are looking for convenient commuting options.
Moreover, the locality's closeness to the already stable micro-markets of Andheri, Malad, and the quickly developing Oshiwara District Centre (ODC) adds up to its commercial attractiveness. There is a steady rise in the area of retail outlets, restaurant chains, boutique brands, and experiential outlets turning to the locale for the volume of customers and visibility that it offers.
According to the IGR records, the leased property is Bharat Arize located at the downtown of Goregaon West, a newly developed residential and commercial area. The property has a carpet area of 1,817 sq. ft. (approximately 168 sq. m.) along with one car parking space that has been assigned to the unit. The transaction resulted in the payment of stamp duty amounting to ₹5.61 lakh and registration charges aggregating ₹30,000, according to the existing registration norms of Maharashtra. In addition, the lease agreement reflects that the security deposit will be ₹27.61 lakh, the figure that points to the upper side of the commercial space and its carefully chosen location within the project.
Based on the registered documents accessed by Square Yards, the lease term is for nine years from November 2025, and the three-year terms with intermittent escalations make up the structure. The monthly rent of ₹6.9 lakhs will be in force for the initial three years. The rent will be raised by 15% to approximately ₹7.9 lakh per month at the end of the following three-year period. The last three-year period will see a monthly rent of around ₹9.13 lakh as the result of a second 15% step-up. The total rent over nine years will be approximately ₹8.6 crores, thus, quite a handsome yield on the asset, if these increments materialize.
IGR documents point out that in March 2025, Kajol Devgan inked the deal to buy this retail unit for ₹28.78 crore, thus, illustrating the trend of wealthy individuals and celebrities opting to put their money in commercial real estate in premium Mumbai locations.
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