DHC Advisory’s co-founder buys sea facing home in Breach Candy for ₹85 crore

Dilip Desai, co-founder of DHC Advisory LLP, and his wife have purchased a sea-facing duplex apartment in Mumbai for ₹85 crore.

Mumbai: Dilip Desai, co-founder and chairman of DHC Advisory LLP (DHC), a leading corporate finance and advisory firm, and his wife Minal have purchased a sea-facing duplex apartment in Peninsula Bishopsgate project in Breach Candy in South Mumbai for ₹85 crore.

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The 61-year-old chartered accountant, who is a partner in Desai Haribhakti Consulting, and his 56-year-old wife purchased the apartment in resale from Mega Trust trustee Gaurav Jain, who is part of Jai Corp Ltd board of directors.

The transaction has fetched a rate of ₹1.44 lakh per sq ft. The apartment no 201 on the 10th and 11th level of the 24-storey luxury tower located next to Raymond House and opposite the Breach Candy Hospital on Bhulabhai Desai Road spans 5,874.19 of built up area, according to registration documents accessed by IndexTap.com.

The transaction was registered on December 13, 2023 and the purchasers paid a stamp duty of ₹5.10 crore. The deal came with five car parking spaces.

The super-luxury tower has come up on a plot of land purchased by Peninsula Land Ltd, an Ashok Piramal company, in October 2011 in a public auction for ₹272 crore.

The luxury home sales have shown a 79% increase in last 12 months in the Malabar Hill micro market, according to a recent study by Liases Fora, the independent non-broker real estate research firm. The brisk sales have helped push the average weighted price to rise from ₹92,718 per sq ft in 2022 and cross ₹1 lakh per sq ft for the first time in five years.