Nadir Godrej Invests Rs.180 crore on three apartments in Mumbai's posh Malabar Hill Area

A renowned industrialist and chief of Godrej Agrovet, Nadir Godrej has reportedly purchased three luxury apartments for Rs.180 crore in Ruparel House, Malabar Hill, in south Mumbai. The founding family of Godrej Group, which spans from soaps and home appliances to real estate, recently reached an agreement to split the conglomerate with Adi Godrej and his brother Nadir Godrej.

Godrej industries has five listed firms. The cousins, Jamshyd and Smita is getting unlisted Godrej & Boyce and its affiliates as well as a land bank. The group has been splitted between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other side. 

The seller from whom the property was taken is R House Realty Pvt Limited (JSW Realty) and the transaction was registered on June 12, 2024. The three apartments cost Rs.59.95 crore, which comes with 12 parking spaces, according to the document accessed by Zapkey.com.

According to the document, Nadir Godrej has also paid over Rs.10 crore as stamp duty towards the purchase of the three apartments along with Rs.90,000 as registration fees. The three apartments is covering an area of 13,836 sq ft (carpet) which takes the size of each of the three apartments to 4,610 sq ft (carpet).

Malabar Hill, which is a posh locality in Mumbai known for its Hanging Gardens, is one of the costliest residential areas in the country. Other popular localities in South Mumbai include Walkeshwar, and Cuffe Parade. According to local brokers, the per sq ft rate in Malabar Hills is anywhere around Rs.1 lakh per sq ft and above.

The Malabar Hills in South Mumbai is bearing several old buildings and heritage bungalows. The micro market has recorded an increasing number of redevelopment projects being taken up post Covid-19. Many of the High net worth individual of Mumbai lives here.