The residential real estate sector in India may be currently experiencing some problems, but that has not stopped the rich from entering into mega property deals. Here’s a look at some of the most expensive property deals in the recent past.
Lincoln House (Rs 750 crore)
The Lincoln House was purchased by Cyrus Poonawalla, chairman of Poonawalla Group for a staggering Rs 750 crore. The property is located in the Breach Candy area of south Mumbai. Lincoln House is a 2-acre Grade-III property and it has a built-up area of approximately 50,000 sq. ft. Poonawalla has stated that he is likely to use it as his family residence.
Gulita (Rs 452 crore)
Gulita was purchased by Piramal Realty for Rs 452.5 crore. The property is located in Worli Seaface in south Mumbai. It is a one-acre property and it was earlier owned by Hindustan Unilever. The property is likely to be given for redevelopment and a part of it can also be kept aside for personal use of Piramal Realty’s Chairman Ajay Piramal.
Bungalow in LBZ (Rs 435 crore)
A bungalow in Lutyens Bungalow Zone, Delhi was purchased by Renuka Talwar, daughter of DLF Chairman KP Singh, for Rs 435 crore. The property earlier belonged to Kamal Taneja, managing director of real estate developer TDI Infracorp. The bungalow is located on a 4,925 sq. meter plot and it has a built-up area of approximately 1,189 square meter.
Jatia House (Rs 425 crore)
Jatia House was purchased by Kumar Mangalam Birla of the Aditya Birla Group for Rs 425 crore. The property is located in Malabar Hill, Mumbai. It was earlier owned by Y Jatia. The property has a built-up area of around 25,000 sq. ft. Birla plans to keep the property for his personal use.
Maheshwari House (Rs 400 crore)
Maheshwari House was purchased by industrialist Sajjan Jindal of Jindal Steel for Rs 400 crore. The property is a three-storey building located on Nepean Sea Road, Mumbai. It is spread over an acre and offers a clear view of the sea.
Mehrangir (Rs 372 crore)
Mehrangir was purchased by Godrej family for Rs 372 crore. The property is located at Malabar Hill, Mumbai, and it has 13 rooms, a terrace, three balconies, eight servant quarters, three covered parking spaces, an open parking place and two gardens. Mehrangir was the house of Homi Bhabha, father of India’s nuclear programme.
Nepean Grange (Rs 350 crore)
Nepean Grange on Nepean Sea Road was purchased by Runwal Group for Rs 350 crore. It was earlier owned by Kapadia family. The property is located on a 2,048 sq. m plot of land and comes with an outhouse, servants’ quarters and a car park.
Bungalow in LBZ (Rs 304 crore)
A bungalow in Lutyens’ Bungalow Zone, Delhi, was purchased by Subhash Chandra from Essel Group for Rs 304 crore. The property was earlier owned by Greatway Estates, a subsidiary of real estate firm Anant Raj group. The bungalow is located on a 2.8 acre plot on Bhagwan Das Road.
Villa Nirmala (Rs 300 crore)
Villa Nirmala was jointly purchased by Peninsula Land — part of the Ashok Piramal Group — and developer Khemchand Kothari for Rs 300 crore. The property is located on Carmichael Road in south Mumbai.