Rakesh Jhunjhunwala’s longtime partner and close aide has bought a luxurious flat in Mumbai. Utpal Sheth paid Rs 123 crore for this flat in the ‘Oberoi Three Sixty West building in Worli. Utpal Sheth, the CEO of ‘Rare Enterprises’, is often referred to as Rakesh Jhunjhunwala’s right hand. He worked closely with the famed investor.
According to IndexTap, the apartment is located in the ‘Oberoi Three Sixty West’ building on Dr. Annie Besant Road. The price of this apartment is said to be more than Rs 123 crore.
Everything you need to know about Utpal Sheth’s luxurious property.
The apartment sits on the 54th floor of a tower called ‘Oberoi Three Sixty West.’
The apartment’s overall space is 15,795 square feet.
The unit has a wide balcony measuring 884 square feet.
Sheth, along with two other family members, bought the apartment.
He co-founded Trust Group, a multi-asset financial services platform.
According to the records, the transaction was completed on September 15, with a stamp duty payment of Rs 7.40 crore.
This apartment was purchased from ‘Sahana Group’s ‘Skylark Buildcon’ and ‘Moon Rays Realty.’
Both enterprises collaborate with ‘Oasis Realty,’ the developer of ‘Oberoi Three Sixty West.’
Sheth has also received seven parking spaces in ‘Oberoi Three Sixty West.’
However, it is worth noting that neither Sheth nor ‘Oberoi Realty’ have commented to this transaction.
Mumbai’s luxury real estate market has grown dramatically. According to sources, a record number of homes were sold in India’s eight largest cities in 2023. Demand has significantly increased, notably in the premium and luxury markets. This tendency is particularly evident in South and Central Mumbai, which are home to India’s most costly flats.
