28 apartments cost ₹ 1238 crores, this is the biggest real estate deal ever, know who bought it
New Delhi. Billionaire businessman and DMart founder Radhakishan Damani has probably made the biggest deal in the country’s property market. Damani’s family members and associates have bought 28 housing units in Mumbai for Rs 1,238 crore. Zapkey.com has given this information by quoting the registration document.
This deal is important at this time. In fact, due to the Budget 2023 announcements, it is estimated that super luxury properties will be affected from April 1. In the budget, a limit of Rs 10 crore has been imposed on the re-investment of capital gains from the sale of long term assets including housing property. At present there is no such limit.
read this also- The investor who became the owner of 1 lakh crores from an idea! Now included in the country’s top-10 rich
The total carpet area of the properties is spread over 1,82,084 sq.ft.
According to the documents, some properties have been bought in the name of companies. The total carpet area of the properties purchased by Radhakishan Damani, his associates and companies is 1,82,084 square feet, which includes 101 car parking. All the transactions have been registered on February 3, 2023.
Where are these luxury apartments
Buyers have bought apartments in Tower B of Three Sixty West, located on Annie Besant Road in Worli area of Mumbai. The seller in the deal is builder Sudhakar Shetty, who has partnered with real estate developer Vikas Oberoi to redevelop the project. Most of these apartments have a carpet area of 5,000 square feet and cost an average of Rs 40-50 crore.
Damani started his career as an investor in the stock market.
Radhakishan Damani is considered the king of retail business. He started his career as an investor in the stock market in the 1980s. But an idea changed his fortunes and his wealth increased by 100% in just 24 hours. The IPO of his company Dmart came in 2017. Till March 20, 2017, Radhakishan Damani was the owner of only one retail company, but on the morning of March 21, as soon as he rang the bell of the Bombay Stock Exchange, his wealth increased by 100 percent. Actually, Dmart’s share was listed at Rs 604.40, while the issue price was kept at Rs 299. This was a return of 102 per cent.
Also read- Radhakishan Damani joins world’s 100 richest with net worth of $19 billion
always stay away from limelight
Stock market tycoon Damani always wears white clothes and is popularly known as ‘Mr White and White’ among investors. He started the retail business in 1999, a time when Kumar Mangalam Birla and Kishore Biyani of Future Group had not even set foot in this sector.
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FIRST PUBLISHED : February 05, 2023, 22:25 IST