News Kumar Mangalam Birla buys Malabar Hill's iconic Jatia House for a whopping Rs 425 cr

[Deepu]

The iconic Jatia House in Mumbai's Malabar Hill, which had been on sale for quite sometime, has finally found a new owner — Kumar Mangalam Birla of the Aditya Birla group.

The Times of India quoted real estate market sources as saying that Birla had quoted a whopping Rs 425 crore for the bungalow.

The bungalow built in the 1950s is two storied with a sprawling built-up area of over 30,000 sq ft. The offer made by Birla has made this the most expensive bungalow deal in the country.

Kumar Mangalam Birla buys Malabar Hill's iconic Jatia House for a whopping Rs 425 cr - Firstpost

 

[Sanjeev]

Unnecessary wastage of money just for a bungalow

 

[Deepu]

Unnecessary wastage of money just for a bungalow

They have the money to waste and this amount will not make any difference to their Networth

 

[IndianMascot]

Heard that the property is so huge that is impossible to manage it.

 

[Technoglitch]

When this was built and by whom?

 

[scorpionking76]

Real estate is new worth to invest and these biggies are now very keen to buy properties both in India and abroad

 

[Technoglitch]

Real estate is really down nowadays among middle class people because the rate is skyrocketing.

 

[Sanjeev]

Heard that the property is so huge that is impossible to manage it.

Yes i heard that it is spread on 20,000 sq ft