By Varun Singh

Zee Entertainment Enterprises Ltd has sold a prime Worli property belonging to the company.

The property was sold on October 23, 2020 by Zee Entertainment Enterprises Ltd.

According to a real estate broker from the area, aware about the deal, the property sold is located on the 14th floor of Victoria Tower.

Victoria tower is located on Ganpatrao Kadam Marag of the upmarket Worli area of Mumbai.

The flat sold by Zee measures 160.53 square meter carpet area, which is 1727 square feet. The built up area of the apartment is 192.64 square meter, it translates into 2073 square feet.

Zee sold the property for Rs 6 crore, while the ready reckoner rate of the property stands at Rs 3.79 crore.

The new owners currently reside at Bhulabhai Desai road one of the most sort out addresses of the financial capital Mumbai.

Along with the flat the new owners have also received two car parkings measuring 22.30 square meter, 240 square feet.

A stamp duty of Rs 12 lakh was paid for the registration of the deal that took place towards the end of October.

According to a real estate broker from South Mumbai, the building is premium and demands a good rate.

Earlier this year, Subhash Chandra was in news too.

Rajyasabha MP, Subhash Chandra had rented his bungalow located at Cuffe Parade to the Chinese Consulate in Mumbai. The agreement was signed on June 29, the rent period started on July 1, 2020. Per month rent stood at Rs 4.90 lakh.

A detailed email sent to Zee group seeking their response on the sale of property, yielded no response.

Also Read: Subhash Chandra rents his bungalow to Chinese Consulate

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By Varun Sngh

Rajyasabha MP, Subhash Chandra, has let out his Cuffe Parade bungalow to the Chinese Consulate.

The agreement was signed on June 29 between Subhash Chandra by his constituted attorney Bhaupatil Arote and Huang Xiang, the Vice Consul, for the Consulate General of The People’s Republic of China.

The bungalow let out to the Chinese Consulate General in Mumbai is located in Jolly Maker 1, one of the most sort out addresses in the city of Mumbai.

The deal was registered with the registration office in Mumbai on July 1, 2020, while the paper work was carried out on June 29.

Subhash Chandra on June 15, constituted a specific power of attorney to Bhaupatil Arote to carry out the leave and license work.

Relations between China and India has been growing bitter over the last few days. Especially after the Galwan valley clash, where 20 Indian soldiers were killed on June 15.

Post this, there has been a rise in anti-China sentiments in the country.

Industrialist like Anand Mahindra while replying to a jibe on Indian products by Chinese twitter handles had stated that such comments might well be the most effective and motivating rallying cry that India Inc. has ever received.

Industrialist Sajjan Jindal had tweeted against cheaper imports from China and asked for developing our own domestic vendors.

Coming back to the rent agreement between Chandra and the Chinese Consulate in Mumbai. The per month rent for the bungalow is Rs 4.90 lakh. The carpet area of the bungalow is 2590 sq ft and the Chinese Consulate will also get to use two covered parkings.

The rent agreement is for two years starting from July 1, 2020 and ending on June 30, 2022.

The Lock-In period is for nine months and to terminate the agreement each party has to give three months notice period.

The Chinese Consulate even paid Subhash Chandra Rs 58.80 lakh via a cheque. This amount includes nine months advance rent and the refundable deposit of Rs 14.70 lakh deposit.

The ground floor of the bungalow has a living room, and a kitchen, the first floor has three bedrooms and one child bedroom. While the second floor has one bedroom.

The bungalow can be used by the Chinese Consulate for its officers, staff, employees, and guests along with families for residential purposes only.

The agreement also has a diplomatic clause, which states, “If any decision taken by the Government of the People’s Republic of China or the Government of the Republic of India results in the closure of the office of the Consulate General of the People’s Republic of China in Mumbai at any time during the term (including the Lock-In-Period), the agreement shall stand terminated.

Emails, messages sent and phone calls made to Subhash Chandra seeking a response regarding the leave and license got us no response.

A detailed email sent to Chinese Consulate in Mumbai also generated no response.

Also Read: PMC Bank puts on sale a yacht and two aircrafts

The post Subhash Chandra rents his bungalow to Chinese Consulate appeared first on Square Feat India.