INSUBCONTINENT EXCLUSIVE:
MUMBAI: In probably the biggest apartment sale in India, 23 luxury homes in an upcoming high-end residential project in Worli have been sold
for around Rs 1,200 crore.TOI has learnt that the family, relatives, friends and close associates of DMart founder Radhakishnan Damani have
purchased these sprawling apartments in Tower B of Three Sixty West, a premium luxury project at Dr Annie Besant Road in Worli.The seller is
businessman-builder Sudhakar Shetty, who has now sold the last of his share of apartments in this project
He had partnered with builder Vikas Oberoi to redevelop this project.Each apartment is about 5,000 sq ft in size and fetched Rs 50-60 crore
The entire proceeds from the sale of these 23 apartments have been used by Shetty to pay back a roughly Rs 1,000-crore loan that he had
taken from Piramal Finance
discounted rate as they have been bought in bulk
Besides, Shetty was under pressure to repay the loan
sold for as much as Rs 75-80 crore
Last year, IGE (India) Pvt Ltd had bought two apartments in the project for Rs 151 crore.The project comprises two towers and was developed
One tower will have a Ritz Carlton hotel and the other luxury residences managed by the hospitality brand.The Damanis of DMart have acquired
marquee properties over the years
In 2021, in what was described as the biggest residential property transaction in the country, Radhakishan Damani and his brother Gopikishan
purchased a bungalow property at Narayan Dabholkar Road in south Mumbai for Rs 1,001 crore.The bungalow, Madhu Kunj, is located on prime
1.5-acre land with a built-up area of more than 60,000 sq ft in tony Malabar Hill
The ground-plus-one-storey bungalow is built in the Art Deco style and has heritage features
beachfront home in Awas village of Alibaug was purchased by Shrikantadevi, wife of Radhakishan Damani, for Rs 80 crore
The Damanis are heavily invested in Alibaug
In 2015, Radhakishan Damani had bought the five-star Radisson Blu Resort - Spa for Rs 135 crore
The Damanis, according to locals, also own a large farmhouse spread over 20 acres in Jirad village.
