Nadir Godrej of Godrej Industries has purchased three luxury apartments for ₹180 crore in Ruparel House, Malabar Hill, in south Mumbai, according to documents accessed by Zapkey.com
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 keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai.
The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group earlier.
The seller of the property is R House Realty Pvt Limited (JSW Realty). The transaction was registered on June 12, 2024.
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The three apartments priced at ₹59.95 crore each come with 12 parking spaces, according to the documents.
Nadir Godrej has also paid over ₹10 crore as stamp duty towards the purchase of the three apartments along with ₹90,000 as registration fees, the documents showed.
According to the documents, the three apartments measure 13,830 sq ft (carpet) which takes the size of each of the three apartments to 4,610 sq ft (carpet).
An email query sent to Godrej Industries and JSW Realty did not get any response.
Malabar Hill is one of the costliest residential area in the country
Malabar Hill, an upscale residential area in Mumbai known for its Hanging Gardens, is one of the costliest residential areas in the country. Other posh localities in South Mumbai include Walkeshwar, and Cuffe Parade. According to local brokers, the per sq ft rate in Malabar Hills is anywhere around ₹1 lakh per sq ft and above.
South Mumbai, especially Malabar Hill, is home to several old buildings and heritage bungalows. The micro-market is witnessing an increasing number of redevelopment projects being taken up post Covid-19. Several high net worth individual (UHNI) reside in the area.
