Tata Group Chairman N Chandrasekaran has purchased a duplex in Mumbai’s posh Peddar Road area for Rs 98 crore. According to a Times of India report, Chandrasekaran and his family had been renting the duplex apartment for the last five years.
The apartment is located in a luxury high-rise called 33 South in Mumbai’s Peddar Road. As per the report, it has a carpet area of around 6,000 square feet and is spread over the 11th and 12th floors of the 28-storey skyscraper
The apartment, where the Tata Sons chairman and his family had been staying on lease for the last five years, was recently registered in the name of Chandrasekaran, his wife Lalitha and son, Pranav. It was reportedly sold to them by Jivesh Developers Pvt Ltd, a company controlled by builder Samir Bhojwani.
“The Chandras were already residing here for some years on a monthly lease rental of Rs 20 lakh. Chandrasekaran moved into 33 South Condominium after he took over as chairman of Tata Sons on February 21, 2017,” sources familiar with the deal told TOI.
N Chandrasekaran reportedly decided to buy the duplex in a 98-crore deal after Tata Sons, in February, reappointed him as chairman for another five years. He joined the Board of Tata Sons in October 2016 and was appointed Chairman in January 2017.