Reliance Industries: RIL Group President Nathwani buys Rs 55-crore luxurious condominium in Mumbai’s BKC

Reliance Industries: RIL Group President Nathwani buys Rs 55-crore luxury apartment in Mumbai's BKC

Dhanraj Nathwani, group president of Reliance Industries, has purchased a luxurious condominium in super-premium residential challenge Signature Island in Mumbai’s enterprise district Bandra-Kurla Complicated for Rs 55 crore.

Nathwani and his spouse have acquired the condominium by way of their firm Yatah Enterprises from Xerxes and Ria Talati of structure and design agency Talati & Companions.

Aside from overseeing the Jamnagar manufacturing division and Vadodara manufacturing of Reliance Industries, Nathwani can also be a director on the board of Reliance New Power Ltd and Reliance Tasks and Property Administration Providers Ltd.

Yatah Enterprises has paid stamp obligation of Rs 2.75 crore for the registration of the settlement. The corporate executed the deal on March 29 and registered the identical on Might 2, confirmed paperwork accessed by way of Indextap.com.

As per the settlement, the condominium on the seventh ground of one of many wings of the tower may also present Nathwani unique entry to a complete eight automotive parking slots. ET’s separate electronic mail queries to Nathwani and Talati & Companions remained unanswered till the time of going to press.

A number of outstanding personalities from the company world, Bollywood and banking fraternity have already purchased flats on this residential challenge constructed by developer Sunteck Realty.

Aside from Uday Kotak, different patrons are Gautam Adani, Vikram Pandit, Gunit Chaddha, Mihir Doshi and actress Sonam Kapoor. Actress Aishwarya Rai has additionally purchased an condominium within the neighbouring challenge Signia Isle developed by the identical developer.

Final 12 months, healthcare product maker Abbott Healthcare had inked a transaction to lease a 5,000-sq-feet condominium on this tower for a month-to-month rental of round Rs 10 lakh. The entire tenure of the lease was 36 months, which takes the leases pay-out to over Rs 3.60 crore through the interval. The luxurious pad was more likely to be occupied by a CXO of the corporate as the corporate’s company workplace is only a few meters away from this complicated.

Mumbai, the nation’s largest and costliest actual property market, has been setting new benchmarks with high-profile property transactions recently after the state authorities introduced a limited-window stamp obligation discount.

The numerous however limited-period stamp obligation discount window that ended on March 31, 2021 was a catalyst for town’s residential market. Whereas stamp obligation rebates usually are not accessible now, the offers have continued to circulation in.

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