Manappuram Finance MD buys sea-facing Mumbai apartment for Rs 41 crore

Sources said that the residence will be home to Nandakumar's son, who is currently managing the family business in Mumbai

VP Nandakumar, the managing director and CEO of Kerala-based non-banking financial company Manappuram Finance Ltd has bought a sea-facing apartment in Mumbai's prime Carter Road for Rs 41.25 crore, real estate proptech company NoBroker who facilitated the transaction told Moneycontrol.

The apartment, sprawling 4,500 sq ft, is located in West Bandra locality. The registration took place on April 24 and the seller is S Raheja Developers.

Nandakumar paid a stamp duty of Rs 2.3 crore. Sources said that the residence will be home to Nandakumar's son, who is currently managing the family business in Mumbai. Originating from Kerala, this is the family's first property investment in Mumbai.

NoBroker, which has recently ventured into the luxury real estate segment caters to specific customer demands for luxury apartments, villas, row houses and holiday homes in the price range of 10 crore and upwards.

Queries sent to Nandakumar did not get any response.

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Souptik Datta

Sub Editor|Moneycontrol

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Big ticket transactions in Mumbai

On June 20, a luxury bungalow in Mumbai's Juhu Vile Parle residential enclave, home to several Bollywood actors, was put on auction. The bungalow, located in Nutan Laxmi Cooperative Society, about a kilometre from Juhu Beach, has eight floors, including a duplex on the top one. The project spans 7,200 sq ft, with only one 4BHK per floor.

And on June 3, actress Triptii Dimri, known for roles in films like Animal, Bulbbul, and Qala among others, bought a luxury property in Mumbai's Bandra West. off Carter Road, for Rs 14 crore.

In May, Bollywood actor Abhishek Bachchan bought six luxury apartments in Mumbai's Borivali for Rs 15.42 crore. Located Oberoi Sky City, the six apartments sprawl a total of 4,894 sq ft and were sold at a rate of Rs 31,498 per sq ft.