D-Mart founder Radhakishan Damani buys property worth Rs 1,001 cr in South Mumbai's Malabar Hill

Billionaire and Founder of D-Mart Radhakishan Damani and his brother Gopalkishan Damani have purchased a bungalow in South Mumbai's Malabar Hill. It has cost the billionaire a whopping Rs 1,001 crore.

A Financial Express report stated that as per documents filed with the Department of Registration and Stamps, Maharashtra Government, Damani had paid Rs 30 crore towards stamp duty for the house. The 5,752 square meter property was registered on March 31, 2021.

The property is a two storey bungalow and is named Madhukunj Building.

Damani purchased the house from Saurabh Mehta, Varsha Mehta, and Jayesh Shah.

Saurabh Mehta and Varsha Mehta are the trustees of Purachand Roychand & Sons LLP Partner Phoenix Family Trust. Jayesh Shah is a Partner of Premchand Roychand & Sons LLP Partner Eknath Project LLP. Varsha is also a Partner in Premchand Roychand & Sons LLP Partner Premodyan LLP.

Around the same time last year, when the pandemic just hit the country, Damani- who controls Avenue Supermarket- became the only Indian tycoon whose net worth remained unscathed as the deadly coronavirus roiled markets worldwide. And all thanks to nation’s hoarders who scrambled to stock up on staples amid the world’s biggest isolation effort.

Well, the net worth of Radhakishan Damani had surged 5% to $10.2 billion.

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Free Press Journal