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Home >Industry >Infrastructure >Diamond firm based in Surat buys bungalow in Mumbai's Worli for 185 crore

Surat-based diamond firm headed by Ghanshyambhai Dhanjibhai Dholakia has recently brought a bungalow in Mumbai's Worli worth 185 crore.

Savji Dholakia, elder brother of Ghanshyambhai said it was meant for a family home. “We were searching for a high-end property which will be able to accommodate our joint family.This bungalow suited our requirement perfectly," said Savji, as quoted by Hindustan Times.

According to Zapkey.com, a real estate data analytics and research firm which has scanned the documents revealed that were two documents registered — assignment of the lease of land and conveyance of the residential building.

In the assignment, the amount of 47,00 crore was paid for which 2,57 crore was paid as stamp duty. The conveyance was valued at 138 crore for the bungalow, while 8.30 crore was paid as stamp duty.

Sandeep Reddy, co-founder, Zapkey.com, said that such bungalows are still in great demand. “Since there is a shortage of bungalows, especially in south Mumbai, they attract huge demand and buyers are ready to shell out premiums to acquire them," said Reddy to Hindustan Times.

Meanwhile, Savji had earlier been in news when he had gifted his employees gifts like like cars, houses as well as jewellery to his employees.

Earlier, Founder of DMart, Radhakishan Damani, has bought a property in South Mumbai worth 1,001 crore. Damani has purchased the property along with his brother Gopikishan Damani. It was one of the most expensive real estate transactions in the country’s residential real estate market.

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