Mumbai: 6,831 Sq Ft Worli Luxury Flat Leased For ₹28.5 Lakh Monthly Rent

Mumbai: Mumbai’s luxury rental market has recorded another high-value transaction, with IVL Dhunseri Petrochem Industries Pvt Ltd leasing a 6,831 sq ft apartment at Three Sixty West in Worli for a starting monthly rent of Rs 28.5 lakh, making it one of the city’s highest-value residential rental deals.

According to transaction data sourced from Zapkey, the leave and licence agreement was registered on September 28  between IVL Dhunseri Petrochem Industries Private Limited, the licensee, and Derive Trading and Resorts Private Limited, the licensor.

The apartment, located on the 19th floor of Tower B at Three Sixty West on Dr Annie Besant Road, Worli, has been leased for a period of 36 months. The starting monthly rent of Rs 28.5 lakh will increase to Rs 29.92 lakh a month in the second year and further to Rs 31.42 lakh a month in the third year.

The total rental outgo over the three-year tenure is estimated at approximately Rs 10.78 crore.

The transaction involves a security deposit of Rs 1.71 crore, while the lease comes with four car parking spaces.

The apartment, spread across 6,831 sq ft is situated in Three Sixty West, one of Mumbai’s prominent ultra-luxury residential developments in the Worli-South Mumbai corridor.
IVL Dhunseri Petrochem is a joint venture between Dhunseri Ventures and Indorama Ventures Public Company Limited (IVL) and is engaged in the manufacture of Polyethylene Terephthalate (PET) resin.

The landlord, Derive Trading and Resorts Private Limited, is an investment entity associated with the family office of billionaire investor and DMart founder Radhakishan Damani, according to the transaction details.

With a starting rent of Rs 28.5 lakh a month, the Worli transaction translates into an annualised initial rental outgo of Rs 3.42 crore, before the contractual escalation in subsequent years.

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