Rekha Jhunjhunwala Makes Splendid Real Estate Move with Luxury South Mumbai Apartment Acquisition

Mumbai, 23rd March 2024: In the latest Mumbai news, Rekha Jhunjhunwala, renowned Indian investor and spouse of the late Rakesh Jhunjhunwala, has made another notable real estate acquisition in South Mumbai. Acquiring a luxury apartment in the prestigious Walkeshwar area, Rekha Jhunjhunwala invested approximately ₹11.76 crore for the property, as confirmed by property registration documents obtained by IndexTap.com. This purchase, finalized on March 15, 2024, involved a payment of ₹59 lakh covering stamp duty and registration charges.

The luxury Mumbai property, named Rockside Apartment, holds historical significance, being situated in a more than 50-year-old building near the Arabian Sea. With a spacious carpet area spanning 1,666 square feet, the apartment also includes ownership of a car parking space spanning 376 square feet.

This acquisition marks the second significant real estate transaction by Rekha Jhunjhunwala, following her acquisition of 1.94 lakh square feet of commercial space in the Bandra Kurla Complex’s Chandivali area in November 2023 through her company, Kinnteisto LLP. The commercial deal, valued at ₹740 crore, demonstrates her strategic investments in Mumbai’s prime real estate market.

Additionally, Kinnteisto LLP, under Rekha Jhunjhunwala’s guidance, secured substantial office space on the 18th and 19th floors of the Bandra Kurla Complex, developed by the Wadhwa Group Holdings, along with office units 1802 and 1901. This transaction, valued at ₹601 crore, encompassed 124 car parking spaces, further consolidating the company’s foothold in Mumbai’s commercial landscape.

Furthermore, Kinnteisto LLP expanded its portfolio with the acquisition of two office units on the 8th floor of the Boomerang commercial building in Andheri East, developed by Kanakia Spaces, for ₹137.99 crore. This transaction, completed on October 16, 2023, included 110 car parking spaces and underscored the company’s commitment to strategic real estate investments across Mumbai.

It’s noteworthy that the Jhunjhunwala family resides in South Mumbai, occupying a lavish 14-story bungalow near Malabar Hills named Ridgeway Apartments, constructed at a cost of ₹371 crore. This reinforces their deep-rooted connection and significant presence in Mumbai’s affluent residential landscape.