The actor leapt from a balcony 45ft off the ground, landing on a platform of mattresses positioned below.
He described the experience as "thrilling with lots of fun".
"The production unit and stunt director Jai Singh insisted that Akshay use a cable wire but he refused," said an eyewitness from the crew.
"The entire unit got together to watch Akshay's stunt scene and were amazed at his decision to do it without any duplicate or safety measures."
Kumar, a martial arts and extreme sports enthusiast, is known for performing his own stunts in his films.
The star's first two movies of 2012, Housefull 2 and Rowdy Rathore, have both performed better than his films of the previous year.
The two releases have both passed the Rs100 crore mark at the box office.
> Akshay Kumar: 'I have had a bad year with my films'
Watch the Housefull 2 trailer below: