When Billionaire investor Rakesh Jhunjhunwala bought 6 Mumbai Flats for Rs 176 crore

Now what would you say to this report which explains the Mumbai Propert prices. As per that Reakesh Jhunjhunwala bought 6 Mumbai Flats for Rs 176cr recently: As  per the report:

Billionaire investor Rakesh Jhunjhunwala on Monday bought half of a seafacing building, comprising six plush apartments, in Mumbai's upmarket Malabar Hill area owned by Standard Chartered Bank, for Rs 176 crore, more than two persons who knew details of the open bidding, told ET asking not to be named.

Jhunjhunwala told ET that he did not want to confirm nor deny the development. A spokesman for Standard Chartered declined to comment. A spokesman for property consultant Jones Lang LaSalle, which was the transaction advisor, also declined to comment. This is the fourth high-value transaction to take place in south Mumbai over the last few months. 

In May this year, YES Bank CEO and managing director Rana Kapoor had bought a residential building on Altamount Road from Citibank and GlaxoSmithKline for Rs 128 crore. 

In June, glassware manufacturer Borosil bought a seafacing duplex for Rs 43 crore. In September, a duplex in Darshan Apartments on Mount Pleasant Road was sold to the Bulchandani family for Rs 57 crore The who's who of the business world stays on Malabar Hill. The Ruias of Essar group, Shapoorji Pallonji Mistry, Adi Godrej, Pranav Mody and Venugopal Dhoot— all have homes here. The combined net worth of residents of Malabar Hill is around $30 billion.

Get My Viuz Updates by e-mail