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Several corporate honchos bought properties in the Mumbai real estate market in 2024. These included Nadir Godrej of Godrej Industries, the wires and cables manufacturer RR Kabel Ltd promoter, and Shreegopal Kabra, among others.
Here’s a look at the top five property deals in Mumbai by corporate leaders in 2024.
Below is the list of the five corporate honchos’ property deals of 2024 in the Mumbai real estate market
1. Wellknown Polyester’s CMD buys two luxury apartments in Mumbai’s Worli for โน270 crore
In April 2024, Macrotech Developers, also known as Lodha Group, sold two apartments in its luxury project Lodha Malabar on Walkeshwar Road, Malabar Hill, one of Mumbaiโs posh areas, for โน270 crore to the chairman and managing director of Wellknown Polyesters Ltd, Anil Gupta, documents accessed by IndexTap showed.
The documents revealed that the two luxury apartments measure around 19,000 sq ft and cost around โน135 crore.
Also Read: Alkem Laboratories promoter’s wife purchases luxury apartment for โน185 crore in Mumbai’s Worli
2. RR Kabel’s Shreegopal Kabra and family purchase two apartments for โน198 crore in Mumbai’s Worli
Shreegopal Kabra, promoter of wires and cables manufacturer RR Kabel Ltd, and his family members purchased two apartments worth โน198 crore in the Worli area of Mumbai in October 2024, according to property registration documents accessed by IndexpTap.com.
The two apartments, which measure 13,809 sq ft, are on the 62nd floor of Oberoi Three Sixty West, a luxury project by Mumbai-based real estate firm Oberoi Realty. Documents showed that they were sold for over โน1.43 lakh per sq ft and come with 10 car parking spaces.
3. Nadir Godrej purchases three apartments for โน180 crore in South Mumbai
According to documents accessed by Zapkey.com, in June 2024, Nadir Godrej of Godrej Industries was in the news for purchasing three luxury apartments for โน180 crore in Ruparel House, Malabar Hill, in south Mumbai.
The documents revealed that the three apartments, priced at โน59.95 crore each, have 12 parking spaces.
Also Read: Luxury real estate demand surges, Mumbai alone sold 21 ultra luxury units collectively worth โน2,200 crore
4. Motilal Oswal’s top official buys Mumbai apartment for over โน36 crore
The Managing director of Motilal Oswal Financial Services Limited, Ashish Sharad Gumashta, in March 2024, had bought a 3416 sq ft apartment in Bandra, Mumbai, for โน36.19 crore, property registration documents accessed by IndexTap showed.
The property was purchased in a project named Satguru Rendezvous in the Bandra West area of Mumbai.
5. Ace investor Rekha Jhunjhunwala buys all flats in a South Mumbai building for โน118 crore
Rekha Jhunjhunwala, wife of the late billionaire stock investor Rakesh Jhunjhunwala, was in the news in February 2024 for purchasing almost all the units in a building to ward off any obstruction to the vista of the Arabian Sea from her Malabar Hill home in South Mumbai.
Also Read: Mumbai real estate: Is an apartment overlooking the sea more expensive than a sea-view apartment? Read on to find out
Jhunjhunwala’s RARE Villa residence is just behind a sea-facing Rockside building in Malabar Hill that was up for redevelopment. Sensing that the redevelopment could potentially restrict the prime sea view from RARE Villa, Jhunjhunwala acquired almost all the units of the old building for โน118 crore, according to property registration documents accessed by Zapkey.
While this was not one of the costliest property transactions among company heads, it grabbed eyeballs, considering Jhunjhunwala paid โน118 crore to protect the view from her house.
