Mumbai, often dubbed as the financial capital of India, has now surpassed Beijing to become Asia’s billionaire capital. The city’s real estate market has become a hotbed for high-net-worth individuals, including businessmen, industrialists, stock brokers, celebrities, and producers, all looking to invest their fortunes in luxurious properties.
A New Addition to Mumbai’s Elite Property Owners
In a recent development, a notable businessman has joined the ranks of prominent figures like Radhakishan Damani, BK Goenka, and Rekha Jhunjhunwala, who have made substantial investments in Mumbai’s real estate. This individual has purchased a stunning sea-facing apartment in Mumbai for an impressive sum of Rs 115 crore. Let’s dive into the details of this high-profile transaction.
The Nagpals’ New Luxury Home
According to reports from Hindustan Times, Economic Times, and Times Now, Ashley Nagpal, the promoter of the renowned furniture company EBCO, and his wife Bianca Nagpal have acquired a 7,139 square foot apartment in the prestigious Oberoi Three Sixty West project. The property, located in the upscale Worli area, was purchased for approximately Rs 1.62 lakh per square foot.
Who is Ashley Nagpal?
Ashley Nagpal has been the Technical Director at Ebco Private Limited since June 1986, as per his LinkedIn profile. He earned his Bachelor’s degree in Mechanical Engineering from Bangalore University, where he studied from 1982 to 1986. Before that, he completed his 12th grade at St. Xavier’s College in 1981 and attended St. Paul’s School in Darjeeling for his schooling, finishing in 1979.
Transaction Details
The luxurious apartment is situated on the 60th floor of the Oberoi Three Sixty West tower, developed by Oberoi Realty. The transaction was finalized on August 28, 2024, with the Nagpals paying a stamp duty of Rs 4.55 crore and a registration fee of Rs 30,000. In addition to the vast living space, the property includes five exclusive car parking spaces and an extra 164 square feet of additional space.
The Oberoi Three Sixty West Project
The Oberoi Three Sixty West is a premium residential development that consists of two high-rise towers. One tower houses the luxurious Ritz-Carlton Hotel, while the other features high-end residential units, including 4 BHK and 5 BHK apartments, duplexes, and penthouses. The project is known for its opulence and has become a preferred choice for celebrities and business magnates alike.
Other Noteworthy Residents
- Shahid Kapoor and Mira Rajput: Earlier in 2024, Bollywood actor Shahid Kapoor and his wife Mira Rajput acquired a property in the same tower for Rs 59 crore. Their duplex, located on the 42nd and 43rd floors, spans 6,176 square feet.
- Radhakishan Damani: In 2023, Indian billionaire Radhakishan Damani purchased 28 apartments in Oberoi Three Sixty West for a staggering Rs 1,238 crore. The individual apartments ranged between Rs 40-50 crore each.
- BK Goenka: Welspun Group Chairman BK Goenka bought a penthouse in the tower for approximately Rs 240 crore in 2023. This penthouse occupies the 63rd, 64th, and 65th floors.
- Mavjibhai Patel: The Managing Director of Kiran Gems, Mavjibhai Patel, acquired a sea-facing apartment on the 47th floor for Rs 97 crore in May 2024.
