DMart Family & Friends Allegedly Buy 23 Luxury Apartments For ₹1200 Crore In Mumbai

by Shreya Ghosh
DMart Family & Friends Allegedly Buy 23 Luxury Apartments For ₹1200 Crore In Mumbai

No matter if one lives in Mumbai or not, everyone knows how the apartments and flats in this city are super expensive. And with more and more luxury and opulence, the price of housing increases as well. But this deal seems to probably be the biggest in India. Family and friends of DMart allegedly bought some luxurious homes in a high-end residential project in the City of Dreams and the total amount is shocking. To know all about this massive apartment sale, read on!

Lavish Properties Sold In Mumbai

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Image for representation

According to a report by the Times Of India, the much-talked-about properties of Mumbai have been sold at a humongous amount of about ₹1,200 crores. Radhakrishnan Damani is the founder of the popular supermarket chain of DMart and the report states that some of Mr. Damani’s associates, close friends, family members, and relatives bought these luxury apartments. They have purchased a total of 23 apartments in Tower B of Three Sixty West.

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They purchased premium luxury properties from Sudhakar Shetty. Mr. Shetty is a builder and he collaborated with another builder, Vikas Oberoi to work on this apartment project. This is a premium high-resolution housing project of Dr. Annie Besarnt Road in Mumbai’s Worli.

Here’s What You Need To Know About These Luxury Homes Purchased By DMart Close Family & Friends

Each of these 23 apartments of Worli is spread across an area of around 5,000 sq ft. These lavish properties are about ₹50-60 crores each. A source close to Sudhakar Shetty shared with the Times Of India that Mr. Shetty took a loan of about ₹1,000 crores from Piramal Finance. The builder used the amount by selling these flats to repay this loan to Piramal Finance.

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The report by TOI states that many sources of the property market shared that the builder sold these apartments with a discount as DMart family and friends purchased flats in a huge volume. Mr. Shetty had the pressure of paying off his loans as well. Market sources even said that negotiations for the properties went on for about 4 to 5 months between Mr. Shetty and the buyers.

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