Mumbai’s real estate market continues to soar as affluent industrialists and billionaires invest in high-end properties across the city. The latest notable acquisition is by billionaire couple Michelle and Yohan Poonawalla, who have recently purchased a stunning 30,000-square-foot mansion in the prestigious Cuffe Parade area of South Mumbai. This remarkable property, valued between Rs 400 – 750 crore, will serve as their secondary residence. Here’s an in-depth look at this significant real estate deal and the affluent couple behind it.
The Property
The Poonawallas’ newly acquired mansion spans an impressive 30,000 square feet in the highly sought-after Cuffe Parade neighborhood, known for its exclusivity and luxurious residences. The property, which represents one of the most substantial real estate investments in recent times, is poised to be transformed into a grand estate that reflects the couple’s taste for opulence and sophistication.
Renovation Plans
Michelle Poonawalla’s MYP Design Studio will spearhead an extensive renovation of the mansion. The renovation aims to seamlessly blend historic grandeur with modern luxury. The new home will feature dedicated spaces for Michelle to exhibit her extensive art collection, which includes works by renowned artists as well as her creations. Meanwhile, Yohan Poonawalla’s section of the mansion will be dedicated to his celebrated collection of rare and valuable automobiles.
Profile and Career
Yohan Poonawalla, born on January 15, 1972, is the chairman of Poonawalla Engineering Group and serves as the director of Poonawalla Stud Farms and Poonawalla Racing and Breeding. He is the son of Zavaray Poonawalla, the co-founder of the Serum Institute of India. The Poonawallas are known for owning one of Asia’s largest stud farms. Yohan Poonawalla also holds a significant stake in the Serum Institute of India.
Business and Achievements
Yohan Poonawalla has made a mark in various fields, including engineering, racing, and breeding. His leadership in these sectors has contributed to his substantial wealth and prominence in the business world.
Michelle Poonawalla: Socialite, Artist, and Philanthropist
Artistic Accomplishments
Michelle Poonawalla is a prominent socialite, artist, and philanthropist. Her art, known for its evocative and imaginative qualities, includes notable works such as “Monsoon Magic,” “Born Free,” and “What if You Fly.” Her piece “Introspection” has been exhibited in prestigious galleries in Dubai and London, showcasing her talent on an international stage.
Philanthropic Efforts
In addition to her artistic endeavors, Michelle is also recognized for her philanthropic work, contributing to various causes and supporting charitable initiatives.
An Impressive Collection of Vintage and Rare Cars
Notable Purchases
Earlier this year, Yohan Poonawalla made headlines with his purchase of Queen Elizabeth II’s highly customized 2016 Range Rover SDV8 Autobiography LWB. The vehicle was acquired for £224,850 (approximately Rs 2.25 crore) through a private deal, bypassing the auction process. This acquisition highlights Poonawalla’s penchant for rare and exclusive automobiles.
Collector of the Year
In 2023, Poonawalla was honored with the Collector of the Year award at the Geneva International Motor Show. His car collection includes vintage and rare vehicles previously owned by Nawabs, the Pope, Maharajas, and other historical figures. His garage features an eclectic mix of customized cars from prestigious brands such as Ferrari, Bentley, Rolls-Royce, Mercedes, and Lamborghini.
The Poonawalla Family’s Net Worth
According to publicly available data and reports from DNA, the Poonawalla family’s net worth is estimated to exceed $27 billion (approximately Rs 2,26,693 crore). Their substantial wealth reflects their successful ventures in business and their prominent status in India’s elite circles.
