In one of the biggest real estate deals in Mumbai in recent times, Aditya Birla Group chairman Kumar Mangalam Birla lapped up Jatia House for Rs 425 crore.
FinancialExpress.com was the first to break the news of the deal. Now, we bring you inside pictures of the stunning property, till recently the home of Jatia brothers, sons of renowned industrialist MP Jatia. Jatia family is the promoter of Pudumjee Industries, which has a presence in the paper and hospitality sectors.
The sea-view property, located on Little Gibbs Road in one of Mumbai’s most upscale locations Malabar Hill, has a built-up area of at least 28,000 square feet. It was bought by industrialist MP Jatia in 1971 from Meher Cawasji Vakeel. Jatia House has Burma teak wood interiors and numerous gardens.
International property consultant Jones Lang Lsalle (JLL) was appointed to assist with the sale of the property at least three months ago and has been instrumental in the deal.
According to sources, Jatia House will be used by the Birla family for personal use and will not be up for commercial purposes.