Carmichael Road, the upmarket residential street in south Mumbai, has witnessed one of the largest property deals in recent times. Industrialist Sajjan Jindal recently bought a sprawling bungalow, Morena House, which used to house the Belgian Consulate.
According to conservative estimates by real estate industry experts, the Jindals could have paid more than Rs 125 crore to buy the bungalow, which comes with a large open space and a garden. The built-up area and Floor Space Index (FSI) of the property could not be verified immediately.
When contacted, a Sajjan Jindal group spokesperson said: “Sajjan Jindal has bought Morena House in his personal capacity. The group company JSW Steel has nothing to do with it.” The spokesperson declined to comment on the value and size of the property, which is behind Jindal Mansion, the group’s corporate headquarters.
As the group is expanding, Jindal Mansion is running short of space. Some key executives from the energy business have already started operating from the new property.
In August last year, the JSW group acquired a property at Kalina for Rs 807 crore.