Diamond Magnate Rajesh Lakhani Buys Rs 97 Crore Sea-View Apartment In Mumbai’s Worli - Details

This transaction follows a similar purchase by Kiran Gems’ managing director and promoter group member, Mavjibhai Patel, who bought a luxury apartment on the 47th floor of the same tower for over Rs 97 crore in April.
Kiran Gems Director Buys Sea View Flat

Kiran Gems Director Buys Sea View Flat (Image Source: iStockphoto)

Rajesh Labhubhai Lakhani, director of Kiran Gems, one of the world's largest natural diamond manufacturers, has acquired a luxury sea-view apartment in Mumbai’s prestigious Worli locality for over Rs 97 crore.
According to The Economic Times report, the expansive apartment, covering 14,911 sq ft RERA carpet area, is situated on the 44th floor of the super-premium residential tower Three Sixty West on Dr. Annie Besant Road. Lakhani purchased the property jointly with two family members, and the transaction was registered on 29 May, as per documents accessed via Zapkey.com. The buyer paid more than Rs 5.84 crore in stamp duty.
This transaction follows a similar purchase by Kiran Gems’ managing director and promoter group member, Mavjibhai Patel, who bought a luxury apartment on the 47th floor of the same tower for over Rs 97 crore in April.
Lakhani's purchase was made directly from Skylark Buildcon and Moon Rays Realty of the Sahana Group, part of the Oasis Realty joint venture with Oberoi Realty, which developed the project. The report added that Three Sixty West is a mixed-use development consisting of two towers: one housing The Ritz-Carlton Hotel and the other featuring luxury residences managed by The Ritz-Carlton. The deal includes exclusive access to seven car parking slots and an additional balcony area of 884 sq ft.
Kiran Gems was founded in 1985 and the company specialises in diamonds and precious stones and is a sightholder authorised to buy rough diamonds directly from the De Beers Group, a leading diamond miner.
Residential property sales in India's top eight cities reached an all-time high in 2023, driven by robust demand across various segments. Mumbai, the country's largest and most expensive property market, has seen a record-breaking number of property deals, with registrations exceeding the 10,000-mark in each of the first five months of 2024. The city has experienced year-on-year growth in registrations for ten consecutive months since August 2023.
South and central Mumbai, home to India’s priciest apartments, have significantly contributed to this performance, with numerous high-value transactions involving industrialists, executives, actors, and sports personalities in recent years.
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