KKR India CEO Gaurav Trehan has bought a sea view luxury apartment in Morena House project in Malabar Hill, South Mumbai, for ₹88 crore from JSW Realty, documents accessed by Zapkey showed.
The seller is Windsor Residency Private Limited. The apartment is spread over a carpet area of 5381 sq ft and the per sq ft price of the property works out to be ₹1.63 lakh, making it one of the costliest property transactions in the country. The deal was registered on October 18, 2024, the documents showed.
Trehan, co-head of KKR Asia Pacific, head of Asia Pacific Private Equity and chief executive officer for KKR India, has bought the property spread across an area of 4947 sq ft. It comes with an enclosed and open balcony and a deck area of 434 sq ft. It is located on the sixth floor in Morena House on Carmichael Road. The apartment comes with four car parking spaces, the documents showed.
An email has been sent to Trehan. The builder could not be reached. The story will be updated if a response is received.
Real estate consultants said that the building comprises more than 20 floors and has one apartment on each floor. These apartments command a rental of more than ₹25 lakh per month.
According to Zapkey, another apartment in the same building was sold for ₹81.71 crore in March this year to Marine Tower Properties LLP.
KKR had appointed its India chief executive Gaurav Trehan as the buyout firm’s Asia head for private equity (PE) last year. According to a report published in Mint, the realty-focused investment unit of global private equity firm KKR & Co. LP invested about Rs1,000 crore in three real estate projects last month, two people aware of the investment said.
KKR India Asset Finance Pvt. Ltd invested about Rs500 crore in a township project of Bhartiya City Developers Pvt. Ltd in Bengaluru, Rs200 crore in Signature Global’s affordable housing project in Gurugram and Rs300 crore in three projects of Chennai-based Prince Foundations Ltd, the first person quoted by Mint said.
Set up in 2014, KKR India Asset Finance signed its first transaction in June 2014 when it invested about ₹350 crore in Mumbai-based Wadhwa Group’s luxury homes project, The Address, in suburban Ghatkopar. Since its launch, it has invested about $800 million in some 20 projects across the country, the report said.
Other deals in Malabar Hill
In June this year, Nadir Godrej of Godrej Industries had purchased three luxury apartments for ₹180 crore in Ruparel House, Malabar Hill, in south Mumbai, according to documents accessed by Zapkey.com
Also Read: Nadir Godrej purchases three apartments for ₹180 crore in South Mumbai’s posh Malabar Hill
Malabar Hill, an upscale residential area in Mumbai known for its Hanging Gardens, is one of the costliest residential areas in the country. Other posh localities in South Mumbai include Walkeshwar, and Cuffe Parade. According to local brokers, the per sq ft rate in Malabar Hill is anywhere around ₹1 lakh per sq ft and above.
In April this year, Macrotech Developers, which uses the Lodha brand, had sold two apartments in its luxury project Lodha Malabar on Walkeshwar Road, Malabar Hill, one of Mumbai’s posh areas, for ₹270 crore to the chairman and managing director of Wellknown Polyesters Ltd, Anil Gupta, documents accessed by IndexTap showed.
Also Read: Wellknown Polyester’s CMD buys two luxury apartments in Mumbai for ₹270 crore
Last year, JP Taparia family, the promoters of contraceptive maker Famy Care Ltd, purchased six apartments spanning a net area of 27,160.6 sq ft in both towers in the Lodha Malabar project in south Mumbai’s Malabar Hill for ₹369.55 crore.
