Author Siddharth Dhanvant Shanghvi has sold a family bungalow located in Mumbai's posh Juhu area for Rs 84.75 crore, documents accessed by IndexTap showed.
Shanghvi, author of books such as The Lost Flamingoes of Bombay and The Last Song of Dusk, sold the 9,795 sq ft bungalow to Agarwal Holding Pvt Ltd, a business firm, the documents showed.
The agreement value of the property is Rs 84.75 crore and the stamp duty paid is Rs 4.2 crore. The property deal was executed and registered on July 30, 2021, the documents revealed.
There was no response to a message sent to Shanghvi.
Tthe property is a ground plus one storey building and overlooks the main road, according to local brokers.
The property is known as Padmini bungalow and is located in Kapol society in Juhu. It is close to Amitabh Bachchan’s and Aishwarya Rai’s bungalows, local brokers said.
The Shanghvi bungalow has greenery on all sides which creates a sense of a natural sanctuary in an otherwise grid locked city, one local broker said. At its rear is the 400 acres of non-developable land, framed against the Juhu Airport.
The Juhu neighbourhood has a rich history. In the 1920s, Mahatma Gandhi came to Juhu to recover after an illness; the air from the beach was considered restorative.
Shanghvi belongs to a business family. According to media reports, the book The Last Song of Dusk was completed in this house.
There have been a flurry of bungalow deals in Mumbai recently. A company owned by Surat-based diamond merchant Ghanshyambhai Dhanjibhai Dholakia has bought a bungalow at Worli Sea face in Mumbai for Rs 185 crore.
The 19,886 sq ft property called Panhar Bungalow, comprising basement, ground floor and six other floors, has been bought by Hari Krishna Exports Pvt Ltd. The per sq ft cost works out to be around Rs 93,000 per sq ft, according to local brokers.
A few months ago, in one of the biggest high-rise deals in India, the promoters of Mumbai-based real estate major K Raheja Corp have decided to keep possession of three floors of their ritzy project in Mumbai—sprawled over 60,000 sq ft and worth Rs 426 crore—registration documents accessed by IndexTap had showed.
In April, In one of the biggest property deals in Mumbai, DMart founder Radhakishan Damani and his brother Gopikishan Damani bought a Rs 1,001-crore independent house in Mumbai’s posh Malabar Hill area.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
