Radhakishan Damani’s House: A Vintage Paradise Worth ₹1,001 Crores

With an unreal and surreal surge in the share prices of DMart during the 2020 COVID lockdown, Radhakishan Damani has been a hot topic in the financial news. Currently throned as the fifth richest person in India, Damani has added another feather to his cap by pinning down property worth ₹1,001 crores.

Radhakishan Damani’s new house is the most expensive transaction in the history of the Indian residential real estate market. So, without further ado, let’s explore a little about his stunning new property in Mumbai’s poshest locality.

Radhakrishnan Damani’s House in Mumbai

Radhakishan Damani’s new house, ‘Madhu Kunj’ sprawls over an area of 1.5 acres and has a built-up area of more than 60,000 square feet. The property was formerly owned by Varsha Mehta, Jayesh Shah, and Saurabh Mehta jointly.

Radhakishan Damani’s House Address and Location

Radhakishan Damani’s new house is situated in the Malabar Hill area in South Mumbai’s Narayan Dabholkar Road It is touted as one of the most expensive and exclusive residential areas in the South of Mumbai. The apartments in this area cost around ₹70,000-₹80,000 or more per square feet (the price depends on the building). Also known as the VIP neighbourhood, bungalows like Ramtek, Meghdoot, and Shivgiri also grace the area.

Radhakishan Damani’s Bungalow Price

Radhakishan Damani and his brother Gopikishan Damani have together made the most expensive purchase in India’s residential real estate market. The brothers have bought the house for a staggering ₹1,001 crores, the market value of which was ₹724 crore. They have also paid a stamp duty of ₹30.03 crore.

An ideal choice for India’s billionaires, South Mumbai is now registered with Damani’s second address at Malabar Hill. The locality is most famous for housing the likes of Ratan Tata and Mukesh Ambani. He is already living in an opulent home in SoBo at the Altamount Road.

Inside Radhakishan Damani’s Enormous House

Radhakishan Damani’s new house is spectacular in all its glory. It is a two-storey bungalow and is reportedly 90 years old. The property has been built in the Art Deco style and it is yet to be disclosed whether the house will be renovated or the family will live in it in its original form.

Radhakishan Damani’s Other Properties

Radhakishan Damani recently made another new house purchase which cost him around ₹250 core. The 8-acre property is located in Thane. The property was last owned by Mondelez India. According to reports, the property is expected to have a great development potential which is another boon for the business maestro. 

Radhakishan Damani’s Net Worth

Radhakishan Damani’s house in Mumbai is a result of the increase in his net worth to a jaw-dropping ₹1,920 crores. He is presently the 5th richest Indian and has also scored a rank in the world’s billionaires list in 2021.

Radhakishan Damani’s Family

Radhakishan Damani is extremely reticent about his personal life and rarely gives an interview or makes a public appearance. The only limelight about his personal life is shredded on his wife Shrikantadevi Damani and her 3 daughters: Jyoti Kabra, Manjri Chandak, and Madhu Chandak.

Engrossing Facts About Radhakishan Damani

Here are some interesting facts about the reserved and very-private business tycoon, Radhakishan Damani.  

• Damani dropped out of the University of Mumbai where he was studying commerce and started a business of ball bearing from scratch.
• During the scam of 1992, when the infamous Harshad Mehta was manipulating the prices of some stocks, Damani was shorting them. When Harshad Mehta’s scam came out in the open, Damani benefited tremendously from the situation. Had Mehta held his position for a week more, Damani says, he would have been bankrupt.
• Damani’s net worth soared during the lockdown of 2020 as he became India’s second-richest person. Forbes Top 100 featured him as the only Indian billionaire apart from Mukesh Ambani.
• Beginners of the stock market look up to the investments of Rakesh Jhunjhunwala, the King of Stock Market to taste the sweetness of success. However, Jhunjhunwala considers Radhakishan Damani as his mentor from whom he learned the tips and tricks of the stock trade.

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