Real estate firm director buys sea-facing luxury apartment in Mumbai for ₹97 crore

Rajesh Labhubhai Lakhani, a director at a real estate firm Woodstock Estate LLP and his family members, have bought a sea-view apartment in a super premium residential tower in Mumbai’s posh Worli area for about 97.40 crore, documents accessed by Zapkey showed.

Top real estate deal” Rajesh Labhubhai Lakhani, a director at a real estate firm Woodstock Estate LLP, and his family members, have bought a luxury apartment in Mumbai’s posh Worli area for about 97.40 crore

The luxury flat is spread across 14,911 sq ft and is located on the 44th floor of the Three Sixty West project. It comes with an additional area of 884 sq ft and seven car parkings, the documents showed.

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The apartment has been bought by Rajesh Labhubhai Lakhani, Saroj Rajesh Lakhani and Vimal Labhubhai Lakhani. The documents were registered on May 29, 2024. The seller is Oasis Realty.

An email query has been sent to Lakhani.

Lakhani is related to promoters of Kiran Gems who have also bought a 16,000 sq ft sea-facing apartment in the luxury project Oberoi 360 West in Mumbai for 97.4 crore, documents accessed by Zapkey showed.

Also Read: Promoters of Kiran Gems buy a luxury apartment in Mumbai for 97.4 crore

Mavjibhai Shamjibhai Patel, Rasikaben Mavjibhai Patel and Munjal Mavjibhai Lakhani have bought the property located in the project, Oberoi 360 West, in Mumbai, the documents showed. The sale documents were registered on April 29, 2024.

Kiran Gems, a leading player in the jewelry industry, specializing in the production of diamonds and precious stones, had in January taken the decision to cease operations at the world’s largest trading hub in Surat Diamond Bourse (SDB) and relocated to Mumbai, according to media reports.

Also Read: Mumbai real estate: All that you need to know about ‘bulk’ property deals being registered in the financial capital

According to media reports, Kiran Gems had shared a video on their LinkedIn platform last year showcasing their Trading Hub at the Surat Diamond Bourse.

In 2021, a bungalow in Worli was sold to a Surat-based diamond firm headed by Ghanshyambhai Dhanjibhai Dholakia for a staggering 185 crore. Panhar bungalow consists of a basement and ground-plus-six storeyed structure located opposite Worli sea face, one of the sought-after locations in Mumbai. It occupies an area measuring 19,886 square feet and was purchased by Harikrishna Exports Private Limited from Arkay Holdings Limited.

In a bulk deal in 2023, 28 apartments in Three Sixty West’s Tower B were purchased by D Mart owner Radhakishan Damani’s immediate family and close associates for a sum of 1,238 crore last year.

Also Read: Worli ‘distress sale’: Damani daughters among 28 buyers

Three Sixty West by Oberoi Realty is a project that has two towers – Tower A with 66 floors and 28 apartments, while Tower B has 90 floors and 256 units including 4BHK, 5BHK, duplex configurations. It also has two penthouses of 11,036 sq ft each.

The sea-view project presumably gets its name because its height is 360 metres and all apartments face the west. It is a ready-to-move-in uber luxury housing project.

As per the MahaRERA portal, Three Sixty West project is registered in the name of Oasis Realty as the promoter, and has four promoters including SkyLark Buildcon Pvt Ltd, and Shree Vrunda Enterprises, part of Sudhakar Shetty’s Sahana Group, and Oberoi Constructions Ltd and Astir Realty LLP which are Vikas Oberoi promoted companies.

Also Read: Why is there a rush to own luxury apartments in Oberoi Realty’s Three Sixty West project in Mumbai?

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