Rajesh Labhubhai Lakhani, director of one of many world’s largest pure diamond manufacturers Kiran Gems, has purchased a sea-view luxury apartment in a super-premium residential tower in Mumbai’s plush Worli locality for over Rs 97 crore.

The condominium unfold over 14,911 sq ft Rera carpet space in Three Sixty West on Dr. Annie Besant Street is on the forty fourth ground of one of many wings of the tower. Lakhani has bought the condominium collectively with two extra members of the family.

The client paid over Rs 5.84 crore as stamp responsibility alone for the transaction that was registered on Could 29, confirmed paperwork accessed by way of Zapkey.com.

Apparently, in April, Kiran Gems’ managing director and a part of promoter group, Mavjibhai Patel additionally bought a luxurious condominium for over Rs 97 crore on the forty seventh ground of this tower.

Lakhani has purchased the condominium instantly from Sahana Group’s Skylark Buildcon and Moon Rays Realty–part of three way partnership Oasis Realty which has developed the mission together with Oberoi Realty.

Three Sixty West is a mixed-use improvement comprising two towers, certainly one of which homes The Ritz-Carlton Hotel and the opposite may have luxurious residences managed by The Ritz-Carlton.

As a part of the deal, the client will get unique entry to 7 automotive parking slots within the tower and the condominium will include a further balcony space of 884 sq ft.

Began in 1985, Kiran Gems specialises in producing diamonds and treasured stones. The corporate is a sightholder or a choose firm authorised to purchase tough diamonds instantly from De Beers Group, one of many world’s high diamond miners.

Sahana Group confirmed the deal whereas ET’s e-mail question to Kiran Gems, calls and messages to Lakhani remained unanswered.

Gross sales of residential properties throughout the highest eight cities scaled an all-time excessive in 2023 attributable to sturdy demand throughout mid-income, premium and luxurious segments.

Mumbai led the pack because the nation’s largest and costliest property market because it continued the record-setting spree when it comes to property offers with greatest efficiency for Could with registrations surpassing the ten,000-mark in every of the primary 5 months of 2024. Additionally, the market has seen year-on-year progress in registrations for ten successive months, beginning August 2023.

South and central Mumbai—dwelling to India’s costliest residences—has been enjoying a key position in driving this efficiency. The micro-market witnessed many large-ticket record-setting transactions involving industrialists, CXOs, actors and sports activities personalities in the previous few years.