Parle Products' Promoter Ambika Chauhan Buys Sea-View Apartments In Mumbai - Know Price And Other Details

Ambika Chauhan Aibara, a member of the Parle Products' promoter family, has acquired two luxurious sea-view apartments in Mumbai's Mahalaxmi area for a total of Rs 47.3 crore. According to the Economic Times report, the 6,180 sq ft apartments, located on the 24th and 25th floors of the Raheja Modern Vivarea project, were purchased from K Raheja Corp's residential development arm.
Parle Products' Promoter Ambika Chauhan

Parle Products' Promoter Ambika Chauhan (Image Source: iStockphoto)

Ambika Chauhan Aibara, a member of the Parle Products' promoter family, has acquired two luxurious sea-view apartments in Mumbai's Mahalaxmi area for a total of Rs 47.3 crore. According to the Economic Times report, the 6,180 sq ft apartments, located on the 24th and 25th floors of the Raheja Modern Vivarea project, were purchased from K Raheja Corp's residential development arm.
Each apartment was priced at Rs 23.65 crore, and the total stamp duty paid for the transactions amounted to Rs 2.84 crore. The deal was finalised in December and officially registered on December 21, 2023.
As part of the agreement, Ambika Chauhan Aibara, who serves as the Executive Director of Parle Products, will have exclusive access to six car parking slots. The Raheja Modern Vivarea project is an under-construction development covering 1 million sq ft across a 3-acre land parcel. Developed by K Raheja Corp Homes, the project involves the monetization of land previously occupied by a private textile mill.
The same luxury tower saw the Halan family acquiring eight sea-view apartments for nearly Rs 104 crore, and promoters of Creative Group of Industries purchasing eight sea-view luxury apartments for almost Rs 155 crore.
The Raheja Modern Vivarea project is part of a joint development pact with Modern India, with the land adjacent to Raheja Vivarea, another premium residential project developed by K Raheja Corp Homes. Raheja Vivarea spans 14 acres and is known as a residential hub for corporate executives. The report added that the last registered transaction in Raheja Vivarea, in October, was priced at over Rs 90,000 per sq ft. Recently, Rahul Bajaj's family also invested nearly Rs 104 crore in acquiring five sea-view apartments in Raheja Vivarea.
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