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DMart founder Radhakishan Damani's firm rents out flat for ₹27.5 lakh a month in one of Mumbai's costliest rental deals
Mumbai real estate: Radhakishan Damani's firm leases Worli luxury flat in Oberoi Three Sixty West for ₹27.5 lakh monthly rent to Sanjay Ghodawat Group entity
Billionaire investor and DMart founder Radhakishan Damani's firm, Derive Trading and Resorts Private Limited, has leased a luxury apartment in Mumbai's Worli to One SGG Ventures LLP, an entity of the Sanjay Ghodawat Group, for a monthly rent of ₹27.5 lakh, making it one of the city's most expensive residential rental deals, according to property registration documents accessed by Zapkey.
Spanning 6831 sq ft, the luxury apartment located on a higher floor of the premium residential tower Oberoi Three Sixty West in Worli, has been leased for a 5-year tenure, with a 5% annual escalation clause, taking the total rental commitment to over ₹18 crore during the lease period, the documents showed.
The agreement also includes a ₹1.65 crore security deposit and four car parking spaces, the documents showed.
The leave and licence agreement was executed on May 27, 2026.
One SGG Ventures LLP is part of the Kolhapur-headquartered Sanjay Ghodawat Group, a diversified conglomerate with interests across sectors including energy, aviation, consumer products, education, real estate, retail and textiles. The entity was originally incorporated as One SGG Ventures Private Limited in 2007, and subsequently converted into a limited liability partnership. It is registered in Pune and operates under the Sanjay Ghodawat Group umbrella.
In one of the first marquee property transactions in 2023, DMart founder Radhakishan Damani, along with his immediate family members and close associates, acquired 28 luxury apartments in Oberoi Realty's Three Sixty West project in Mumbai's Worli for a total consideration of ₹1,238 crore.
An email has been sent to Avenue Supermarts Limited, the company that owns and operates the DMart supermarket chain. One SGG Ventures Private Limited could not be reached.
"At nearly ₹400 per sq ft per month, the rental value on this Oberoi Three Sixty West home matches the pricing of prime commercial office leasing in Mumbai. When an individual residence commands the same square-foot velocity as premium corporate real estate, it signals a dramatic new era for India's ultra-luxury property market," said Sandeep Reddy, co-founder Zapkey.
As Mumbai's rental market continues to mature, transactions of this scale highlight the growing demand for marquee residences among business families and corporate groups, he said.
The luxury residential project developed by Oberoi Realty comprises two towers and offers 4- and 5-BHK residences, as well as duplex apartments and penthouses. The project received its occupation certificate in 2022. Overlooking the Arabian Sea, the development is believed to derive its name from its approximately 360-metre height and the west-facing orientation of its residences.
According to brokers, monthly rentals in the project typically range between ₹25 lakh and ₹30 lakh, while capital values for apartments are generally in the ₹85 crore to ₹90 crore range, depending on factors such as size, floor level and view.
Oberoi’s Three Sixty West a magnet for the ultra-rich and celebrities
Three Sixty West has emerged as one of India's most sought-after luxury residential addresses, attracting billionaire investors, top corporate executives and Bollywood celebrities. Among its notable celebrity residents and owners is Shahid Kapoor. Abhishek Bachchan and Akshay Kumar previously owned an apartment in the project.
Shahid Kapoor and his wife, Mira Kapoor, purchased a 5,395 sq ft apartment in the Oberoi Three Sixty West project for around ₹60 crore in May 2024.
Oberoi Realty is set to launch an ultra-luxury Gurugram project in FY27 quarter
According to Vikas Oberoi, CMD of Oberoi Realty, the company plans to launch its Gurugram project in the ongoing quarter of FY27.
Responding to a question on the project's sales strategy, Oberoi said during a recent investors’ call that the company is still evaluating its approach, as Gurugram is a new market for Oberoi Realty. He said that the developer has set internal targets and expects strong interest given the market buzz around the launch.
Also Read: Mumbai property registrations up 7% YoY to 12,315 in May, highest for the month in 14 years
In 2025, Vikas Oberoi had said the company was set to enter the Gurugram real estate market with a high-end luxury project featuring apartments ranging from 5,000 to 8,000 sq ft. He had said that the Gurugram project would be modelled after the company’s flagship luxury development, Three Sixty West, located in Mumbai’s Worli. There, apartments are priced at ₹1.50 lakh per sq ft.
