Tata Sons leases Ratan Tata's former home from subsidiary for Rs 17.6 lakh a month

Ratan Tata passed away in October 2024

• Tata Sons leases Colaba property for Rs 17.6 lakh per month
• Lease starts October 2024, valid for five years
• Noel Tata may take up residence at The Cabins

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The Tata Group holding company Tata Sons Ltd has leased the luxury residential property The Cabins, also known as Halekai, from its subsidiary Ewart Investments, for a starting monthly rent of Rs 17.60 lakh, according to registration documents accessed by Zapkey. The 13,200 square feet-property, located in Mumbai's upscale Colaba neighbourhood, was the residence of the late Tata Sons chairman, Ratan Tata.

The property, also previously known as Bakhtawar, has historically been associated with the Tata family, and Ratan Tata took up full-time residence at the property after he stepped away from the chairman's role at Tata Sons in 2012. The property, which includes a basement, ground, and three upper floors, also has an extensive range of luxury amenities and fixtures.

While the registration date for the agreement was February 6, 2026, the lease was effective from October 10, 2024, being valid for a five year-period. The rent is slated to increase by 10 percent from April 1, 2027. The agreement also includes an interest-free security deposit of Rs 10 crore, as well as stamp duty of around Rs 4.63 lakh.

Ewart Investments, the Tata Sons subsidiary that owns the property, also has minor stakes in a number of listed and unlisted Tata Group companies, such as Tata Motors, Indian Hotels Company Ltd (Taj Group), Tata Consumer Products, Trent, Tata Investment Corporation, and others. The property, according to leading market observers, is valued at over Rs 150 crore.

The building was declared dangerously dilapidated by an unit of the Maharashtra Housing and Area Development Authority (MHADA) in 2004, and was subsequently rebuilt after a plan for the property's reconstruction was approved in 2008.

According to people aware of the Tata Group's developments, Ratan Tata was allotted the property on a discretionary basis by the group, due to his position as the chairman of Tata Trusts, a role he held until his death in October 2024. Tata redesigned the property, with the help of renowned architect Ratan Batliboi.

After his retirement from Tata Sons in 2012, Tata ran his family office, RNT Associates, through which he invested in a number of startups across sectors such as consumer goods, fashion, and technology. He also returned as interim chairman of Tata Sons, after the ouster of Cyrus Mistry in October 2016.

Recent media reports say that the Tata Trusts chairman, Noel Tata, who is also the half-brother of the Ratan Tata, may take up residence at The Cabins/Halekai.

Moneycontrol has written to Tata Sons for confirmation on the deal, as well as its intended use, and the story will be updated once a response is received.

"At Zapkey, we track thousands of registrations every month, but few carry the symbolic weight of 'The Cabins' in Colaba. As the former home of Ratan Tata, this is arguably one of the most iconic pieces of residential real estate in India. This deal, combined with the state-of-the-art security and infrastructure upgrades we see in the agreement, suggests the property is being prepared for a high-profile occupant, likely continuing its tradition as a residence for the Tata leadership," said Sandeep Reddy, co-founder of Zapkey.

Noel Tata, the Tata Trusts chairman, currently resides at the Windmere luxury development in the tony Cuffe Parade neighbourhood. The units at the property are sized around 6,000 square feet, and was owned by Noel Tata's father-in-law and former Shapoorji Pallonji Group chairman Pallonji Mistry.

Pallonji bequeathed the properties at Windmere to his daughters Aloo, who is married to Noel, and to Laila Jehangir, who is based overseas.