Jhunjhunwala’s Kinnteisto LLP invests heavily in commercial office spaces - Hindustan Times
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Jhunjhunwala’s Kinnteisto LLP invests heavily in commercial office spaces

Nov 09, 2023 08:40 AM IST

The company has also bought even larger space on the 18th floor and 19th floor of the same building developed by Wadhwa Group Holdings for ₹331.68 crore. These office units 1802 and 1901 are spread across 69,425 sq ft. Collectively, the transaction is worth ₹601 crore and comes with 124 car parking spaces

Mumbai: Rekha Jhunjhunwala, wife of late billionaire Rakesh Jhunjhunwala, has purchased five commercial office spaces collectively spread across 1.94 lakh sq ft in Bandra Kurla Complex (BKC) and Chandivali in Andheri West for a sum of 739 crore.

Jhunjhunwala publicly holds 25 stocks with a net worth estimated to be over <span class='webrupee'>₹</span>35,000 crore (Hindustan Times)
Jhunjhunwala publicly holds 25 stocks with a net worth estimated to be over 35,000 crore (Hindustan Times)

The company, Kinnteisto LLP, where Jhunjhunwala is a partner, purchased two offices spanning 26,422 sq ft and 30,172 sq ft on the 14th floor of The Capital in BKC for 123.99 crore and 145.33 crore respectively, according to registration documents accessed by Propstack.com.

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The company has also bought even larger space on the 18th floor and 19th floor of the same building developed by Wadhwa Group Holdings for 331.68 crore. These office units 1802 and 1901 are spread across 69,425 sq ft. Collectively, the transaction is worth 601 crore and comes with 124 car parking spaces.

The purchaser also paid stamp duty of 36.05 crore. All four purchases were registered on October 22, 2023. “It is an investment deal by Jhunjhunwala’s family office,” said a senior real estate analyst working with an international property consultant.

In a separate transaction registered on October 16, Kinnteisto LLP also purchased two office units spread across 68,195 sq ft carpet area on the eighth floor of Boomerang commercial building developed by Kanakia Spaces in Andheri East for a sum of 137.99 crore. The deal comes with 110 car parkings and the purchaser had to pay stamp duty of 8.27 crore.

Jhunjhunwala, who publicly holds 25 stocks with a net worth estimated to be over 35,000 crore, told HT “these assets generate good yields, are leased to marquee tenants and also being well located are quite secure in nature. These have been bought for the family from a long term perspective.”

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