D Mart Founder Buys Malabar Hill Property For Rs 1000 Crore
D Mart Owner Radhakishna Damani along with Gopikishan Damani has shelled out Rs 1001 crore to buy a two storey property in Malabar Hill. The deal was registered on March 31.
By Varun Singh
Financial year 2020-21 ended on a high note for the real estate industry.
On March 31, Radhakishan Damani of D Mart along with Gopikishan Damani, bought the property located in Malabar Hill’s Narayan Dabholkar Marg.
According to documents available, the property measures a whooping 5752.22 square meteres, which translates into 61,916 square feet.
Both the new owners have paid Rs 1001 crore for the property named Madhukunj.
The market price as per the ready reckoner rate of the property is Rs 723.98 crore.
This would be the highest price ever paid for a property in Mumbai and probably the country.
D Mart is a super market chain with its presence in several parts of the country.
A stamp duty of Rs 30.03 crore, was paid for the registration of the property.
Gopal Maheshwari, a realtor from Malabar Hill area said, “This doesnt look like a commercial deal, this property can be developed into a private bbungalow and is located in the prime area.”
Recently D Mart was in news when it bought a commercial space in Chembur.
Damani is a known name and his current address is that of Altamount Road too.
We have sent an email to Damani seeking his comment, the story shall be updated whenever we received his response.
A report on the deal was first carried out by Loksata’s online edition.
Also Read: This Is 2020’s Most Expensive Realty Deal