Rekha Jhunjhunwala, the wife of late ace investor Rakesh Jhunjhunwala, has bought an apartment worth Rs 11.76 crore in the Walkershwar area of South Mumbai, according to a Moneycontrol report citing property registration documents accessed by IndexTap.com.
The apartment, which spread across 1,666 sqft carpet, is in an over 50-year-old building named ‘Rockside Apartment’ near the Arabian Sea.
Also Read: Rekha Jhunjhunwala Buys All Units In A Building For Rs 118 Crore To Protect Sea-View From Her Home
In the transaction which was registered on March 15, 2024, Rekha Jhunjhunwala paid a stamp duty and registration charges of more than Rs 59 lakh. The apartment comes with one car parking of around 376 sqft.
Walkeshwar and Malabar Hill micro-market of the Mumbai real estate market were once India’s costliest residential real estate market, however, as businesses moved northwards, there was a dearth of premium and luxury projects in the vicinity.
In November 2023, Kinnteisto LLP, the firm run by Rekha Jhunjhunwala, in one of India’s largest commercial office deal had purchased over 1.94 lakh sq ft of commercial office spaces in the Bandra Kurla Complex (BKC) along with in Chandivali area of Mumbai real estate market for around Rs 740 crore.
Meanwhile, according to a Knight Frank report, titled ‘Prime Global Cities Index Q4 2023’, Mumbai, New Delhi and Bengaluru, (Indian cities considered for the study) recorded an increase in their average annual prices of prime residential or luxury homes in Q4 2023.
Mumbai’s impressive 10 per cent price growth in the past 12 months was driven primarily by affluent homebuyers looking for a lifestyle upgrade in the backdrop of a strong economic environment that continues to gain momentum.
Mumbai recorded the third highest year-on-year (YoY) growth in prime residential prices in Q4 2023, pushing it up the ranking table by 5 places to 3rd position from its 8th position in Q4 2022.
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