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Rekha Jhunjhunwala, the widow of late billionaire stock investor Rakesh Jhunjhunwala, purchased nine apartments worth ₹118 crore in the Rockside CHS building in Mumbai to protect sea view from her home, according to a report by Moneycontrol. The report also revealed that the family bought 19 of the 24 apartments in the building. They put the Rockside CHS building up for redevelopment.
IndexTap.com accessed the property registration documents and found out that Rekha Jhunjhunwala bought the luxury apartment for around ₹11.76 crore. On 15th March 2024, Rekha Jhunjhunwala registered this under her name, paying ₹59 lakh for stamp duty and registration charges.
The almost 50-year-old building on Walkeshwar Road houses the apartment. The apartment spreads across an area of 1666 sq ft (carpet area) and includes one car parking space. The buyer paid a stamp duty of ₹58.81 lakh. The registration of the Deed of Transfer happened on March 15, 2024.
Rekha Jhunjhunwala executed the Rockside Apartment deal as the second big real estate deal after buying 1.94 lakh square feet of commercial space in the Bandra Kurla Complex in the Chandivali area. In November 2023, through her company Kinnteisto LLP, she executed this commercial property deal. Rekha Jhunjhunwala's company Kinnteisto LLP executed the commercial deal, worth ₹740 crore, in November 2023.
Rekha Jhunjhunwala's company Kinnteisto LLP also bought an even larger space on the 18th and 19th floors of the Bandra Kurla Complex that the Wadhwa Group Holdings developed for ₹331.68 crore. The company also bought office units 1802 and 1901, which are spread across 69,425 sq ft. Altogether, they valued this Mumbai property transaction at ₹601 crore and it included 124 car parking spaces.
On 16th October 2023, Kinnteisto LLP executed a separate commercial property deal and purchased two office units spread across a 68,195 sq ft carpet area on the 8th floor of Boomerang commercial building in Mumbai's Andheri East area. Kanakia Spaces developed this commercial building for a sum of ₹137.99 crores. The Andheri East deal included 110 car parking spaces and Kinnteisto LLP paid a stamp duty of ₹8.27 crores.
Industrialists, Bollywood stars, and start-up founders, who are all multi-billionaires, continue to purchase spacious sea-facing apartments in the range of more than ₹1.4 lakh per square foot, even as the supply for such luxury units remains limited. The high price is dictated by the paucity of housing supply in this category.
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