Wife of Rakesh Jhunjhunwala Acquires Apartment worth Rs. 11.76 crore in South Mumbai

Rekha Jhunjhunwala, the wife of late billionaire stock investor Rakesh Jhunjhunwala, has acquired an apartment worth Rs. 11.76 crore in the Walkershwar area of South Mumbai. The registration of the property was done through IndexTap.com. 

According to the report, Rekha has purchased all the units in the building to ward off any obstruction to the vista of the Arabian Sea from her Malabar Hill home.

The apartment is expanded over  an area of 1,666 sqft carpet and it is situated in a more than 50 years old  building called ‘Rockside Apartment’ near the Arabian Sea, on Walkeshwar Road.  

The documents of registration which were sourced from Zapkey implies that Jhunjhunwala, through multiple entities, purchased nine apartments for Rs. 118 crore since November 2023.

Currently, the building is undergoing a process of redevelopment. The market reports are depicting that, the billionaire family has purchased 19 of the 24 apartments in the building.The transaction was registered on March 15, 2024, where Rekha has paid a stamp duty and registration charges of more than Rs. 59 lakh. The apartment also has one car parking of around 376 sqft.

The company called Kinnteisto LLP, where Jhunjhunwala is a partner, had purchased two offices spanning 26,422 sq ft and 30,172 sq ft on the 14th floor of The Capital in BKC for Rs.123.99 crore and Rs.145.33 crore respectively in October 2023.
Walkeshwar and Malabar Hill micro-market of the Mumbai were once India’s costliest residential real estate market. As the business started moving towards north, premium and luxury projects are also seen to be pushed through that area.

According to the report of Knight Frank, which was termed as ‘Prime Global Cities Index Q4 2023’ Mumbai, New Delhi and Bengaluru were recorded a sharp increase in their average annual prices of prime residential or luxury homes in Q4 2023.
Mumbai exhibited 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.