Mumbai's real estate, while being inaccessible to many in the city that never sleeps, throws interesting numbers from time to time. In a recent development from the vestibules of real estate, Karan Bhagat, the founder-CEO of 360 ONE, formerly IIFL Wealth Management has made a bumper purchase in Mumbai.
The boss of the wealth management company bought luxury apartments worth a staggering Rs 170 crore.
This purchase was done in the upmarket area of Worli, which is located in the South of the city of Mumbai or in the Mumbai City District.
The boss of the wealth management company bought luxury apartments worth a staggering Rs 170 crore. |
The apartments according to reports cover a 12,900 sq ft built up area. These luxury apartments are on the 45th and 46th floors of the edifice. These apartments are housed in Oberoi Reality's Three Sixty West project on Dr. Annie Besant Road.
An IIM graduate, Bhagat's firm is currently one of the largest asset and wealth management companies in India, with more than USD 56.3 billion in assets under management.
Real estate in Mumbai, for the unbeknownst is an exorbitant affair. According to No Broker, the average price of a 1BHK in the city, is in excess of Rs 65.5 lakh. A 2BHK could, on an average cost a buyer Rs 1.5 crores and a 4BHK could cost someone around Rs 9 crores.
