A real estate company director spends 97 crore on a lavish Mumbai flat with a view of the sea

By Bricksnwall | 2024-06-06

Situated on the 44th level of the Three Sixty West complex, this luxurious apartment in Mumbai spans 14,911 square feet.

Documents viewed by Zapkey revealed that Rajesh Labhubhai Lakhani, a director at the real estate company Woodstock Estate LLP, and his family paid around 97.40 crore for a sea-view flat in a super premium residential building in Mumbai's affluent Worli neighbourhood.

The luxurious apartment is situated on the 44th floor of the Three Sixty West building and spans 14,911 square feet. According to the documentation, it also includes seven parking spaces and an additional 884 square feet.

Rajesh Labhubhai Lakhani, Saroj Rajesh Lakhani, and Vimal Labhubhai Lakhani are the new owners of the flat. On May 29, 2024, the documents were registered. Oasis Realty is the seller.

Lakhani has been contacted by email.

According to documents obtained by Zapkey, Lakhani is related to the promoters of Kiran Gems, who also paid 97.4 crore for a 16,000 square foot flat with a view of the sea in the opulent Oberoi 360 West complex in Mumbai.

The property situated in the Oberoi 360 West project in Mumbai has been purchased by Mavjibhai Shamjibhai Patel, Rasikaben Mavjibhai Patel, and Munjal Mavjibhai Lakhani, according to the records. On April 29, 2024, the sale documents were registered.

According to media sources, Kiran Gems, a major participant in the jewellery business with a focus on the manufacture of diamonds and precious stones, decided in January to move from Surat Diamond Bourse (SDB), the world's largest trade hub, to Mumbai.

Media reports state that Kiran Gems posted a video last year on LinkedIn showing off their Trading Hub at the Surat Diamond Bourse.

A Worli home was sold in 2021 for an astounding ₹185 crore to a Surat-based diamond company led by Ghanshyambhai Dhanjibhai Dholakia. The Panhar bungalow is a highly sought-after location in Mumbai, with a ground plus six-story building and a basement, situated across from the Worli seafront. It was bought by Harikrishna Exports Private Limited from Arkay Holdings Limited and occupies 19,886 square feet.

The immediate family and close associates of D Mart owner Radhakishan Damani paid ₹1,238 crore in 2023 for a bulk purchase of 28 flats in Three Sixty West's Tower B.

The Oberoi Realty project Three Sixty West consists of two towers: Tower A, which has 66 floors and 28 apartments, and Tower B, which has 90 floors and 256 units, including duplex and 4BHK configurations. Two 11,036 square foot penthouses are also included.

The 360-meter height of the sea-view project and the west-facing orientation of every apartment likely gave rise to the building's moniker. It is an ultra-luxury housing complex that is ready for occupancy.

The Three Sixty West project has four promoters, according to the MahaRERA portal: SkyLark Buildcon Pvt Ltd, Shree Vrunda Enterprises, which is a part of Sudhakar Shetty's Sahana Group; Vikas Oberoi is the promoter of Astir Realty LLP and Constructions Ltd.

 The project is registered under Oasis Realty as the promoter.

Source: HindustanTimes