WestBridge Capital MD buys luxe apartment in Worli for ₹96.12 crore

Sumir Chadha, MD of WestBridge Capital, has bought a luxury apartment in Mumbai's Oberoi Three Sixty West project for INR 96.12 crore ($12.9 million). The apartment, located on the 60th floor, has a built-up area of 7,459 sq ft and Chadha paid a stamp duty of INR 3.59 crore on the transaction. The deal includes five car parking spaces and the apartment fetched a rate of INR 1.29 lakh per sq ft on the built-up area, which could be one of the highest rates for luxury properties in Worli.

Mumbai: Sumir Chadha, the co-founder and managing director of private equity firm WestBridge Capital, has purchased a luxury apartment on the 60th floor of Oberoi Three Sixty West luxury project in Worli for ₹96.12 crore.

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The apartment in sea-facing Tower B has a built-up area of 7,459 sq ft and carpet area of 6,779 sq ft and Chadha paid a stamp duty of ₹3.59 crore on the transaction, according to the registration documents accessed and shared by IndexTap.com The deal comes with five car parking spaces.

The apartment purchased by Westbridge Capital MD has fetched a rate of ₹1.29 lakh per sq ft on built up area, and on carpet area, the rate climbs up to ₹1.42 lakh sq ft which could be one of the highest rates fetched by Worli’s luxury properties.

Interestingly, the transaction documents revealed that this apartment was part of the flats in Three Sixty West that Oberoi Realty had purchased from Sahana Group for ₹43.47crore in February 2023.

Oberoi Realty had informed stock exchanges that in line with a resolution passed by the company at its extraordinary general meeting held on December 1, 2022, it was purchasing 63 apartments from Oasis Realty for an aggregate consideration of ₹4,000 crore which includes a total consideration of ₹3,403 crore, stamp duty of ₹204 crore, and share of income tax liability discharged through Oasis Realty of ₹605 crore.

It was on February first week that a bulk deal of 28 apartments in Three Sixty West’s Tower B were purchased by D Mart owner Radhakishan Damani’s immediate family and close associates for a sum of ₹1,238 crore.

A few days later, Welspun group chairman BK Goenka had purchased a penthouse spread across 29,885 carpet area on the 63rd floor for ₹230.55 crore. While the Damani transactions had fetched a rate of ₹65,000 to ₹75,000 per sq ft, the penthouse sale had generated a rate of ₹77,145 per sq ft.