DMart’s Radhakishan Damani tops the list with his ₹1,001 crore Malabar Hill bungalow
Following a report from property data aggregator Zapkey, a list of India’s biggest property sales from 2021 to date has revealed some truly jaw-dropping numbers from the top 0.1% of India’s real estate market.
The company, which records and shares transaction data for buyers, sellers, and brokers, compiled the list earlier this week — featuring many of the country’s top businesspeople, and even a few special mentions, which we’ll get to soon.
Here’s the top ten biggest deals on the list:
10. ₹103.6 crore — SM Dyechem
Location: Satellite Sesen, Malabar Hill, Mumbai
A speciality chemicals manufacturer that has strong connections to the packaged foods industry, SM Dyechem was founded in 1982 by SM Shetty and has recently purchased a 51st and 52nd floor duplex, registered for ownership back in May 2021.
9. ₹103.8 crore —Avinash Bhosale/Abeey’s Realcon LLP
Location: Satellite Sesen, Malabar Hill, Mumbai
Another investment in the high-end Malabar Hill property came from well-known industrialist Bhosale, who cleared a similar duplex sale to SM Dyechem by paying a slight premium for locating their purchase on the 53rd and 54th floor.
8. ₹125 crore — Shailesh & Natasha Dalmia
Location: Raheja Artesia, Worli, Mumbai
Buying out four luxury flats at once, businessman Shailesh Dalmia and his wife, who serve as directors on various company boards, invested in the entire 33rd floor of the Artesia high-rise back in August 2021. Apart from owning nearly 11,000 square feet of the sea-facing property in one of India’s priciest neighbourhoods, the couple have also gained access to 12 car parking spots in the building.
7. ₹138 crore — Pranab Mody, Purbi Asher
Location: Morena House, Carmichael Road, Mumbai
The brother-sister duo who control leading positions at JB Chemicals and Pharmaceuticals, have bought two sea-view luxury apartments at JSW Realty’s ongoing project, at a whopping Rs. 1.31 lakh per square foot, making just the stamp value alone on the transaction worth Rs 7 crore. As part of the deal, Mody purchased a 5,341 square feet apartment on the 5th floor, while Asher purchased her 5,284 square-feet home on the 4th floor.
6. ₹140 crore — Anil Gupta
Location: Shanti Niketan, Delhi
Chairman and MD of wire/cable manufacturers KEI Industries, Gupta purchased a coveted 6,000 square foot slice of this posh South Delhi neighbourhood, last October. A major upsurge from the listed value of Rs. 104 crore, the property traded hands from Dinesh Dhamija, a British-Indian entrepreneur and politician.
5. ₹150 crore — JC Chaudhry
Location: Vasant Vihar, Delhi
The Aakash Educational Services Ltd. Founder bought this 6,000 square-feet property in South Delhi’s Vasant Vihar following a massive deal with ed-tech startup Byju’s, to whom Chaudhry sold his company for nearly Rs. 7,300 crore.
4. ₹185 crore — Ghanshyambhai Dholakia
Location: Panhar Bungalow, Worli
One of Surat’s most prominent diamond merchants, Dholakia purchased the massive six-storey 19,886 square-feet property through his company, Harkrishna Exports Pvt. Ltd. The merchant’s elder brother, Savji Dholakia, stated that the bungalow was meant as a long-term residence for their large joint family.
3. ₹253 crore — JK Papers
Location: Prithviraj Road, Delhi
This December-2021 deal saw JK Paper’s director, Amar Singh Mehta, purchase the 11,193 square-feet bungalow from Bhai Manjit Singh and Vikramjit Singh, both of whom have familial ties to the pharmaceutical giant, Ranbaxy Laboratories.
2. ₹427 crore — Chandru, Ravi and Neel Raheja
Location: Raheja Artesia, Worli, Mumbai
Another instance of a sale within Raheja’s coveted Artesia project, this immense 66,800 square feet purchase is one of the largest single real estate deals to have substantiated in Mumbai. The three promoters and their wives own three duplexes across the 41st and 45th floors, and have also attained a massive 42 car parking slots as a result.
1. ₹1,001 crore — Radhakishan Damani
Location: Madhukunj, Malabar Hill, Mumbai
By far the most expensive real estate sale happens to be in the hands of Avenue Supermarkets’ Radhakishan Damani, famous for founding and operating the grocery chain, DMart. The 61,914 square feet residence, Madhukunj is around 90 years old and was previously owned by Saurabh, Varsha, and Jayesh Shah — trustees and business partners at Premchand Roychand & Sons LLC Partner Phoenix Family Trust.
Apart from these high-profile deals, the list also carried details of 51 other listings, including a few interesting names. Most popular among them is author Chetan Bhagat, who purchased a Rs 11.6 crore 4BHK flat in South Delhi’s Westend area, just three weeks ago.
Tata Chairperson Chandrasekaran Natarajan also made an appearance, shelling out Rs 98 crore this May at — you guessed it — Mumbai’s Malabar Hill neighbourhood.
(Featured Image Credits: Madhukunj_1)
