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Mumbai: Rekha Jhunjhunwala, widow of renowned investor Rakesh Jhunjhunwala, has significantly added to her real estate portfolio by purchasing a lavish apartment in Mumbai’s prestigious Walkeshwar area. The acquisition, valued at Rs 11.76 crore, underlines the continued attraction of luxury properties among India’s rich, even as the market for high-end real estate is evolving.
The newly acquired property, located in an over 50-year-old Rockside Apartment building near the Arabian Sea, is spread over 1,666 sq ft and also includes one car parking space. The move not only highlights the Jhunjhunwala family’s interest in premium real estate but also reflects the enduring value of properties in Walkeshwar and Malabar Hill in south Mumbai, despite the shift of business centers northwards. The transaction, registered on March 15, 2024, involved stamp duty and registration fees of over Rs 59 lakh, highlighting the significant investment made.
Before this residential purchase, Rekha Jhunjhunwala’s firm, Kinntisto LLP, had made headlines by acquiring substantial commercial office space in Mumbai’s Bandra Kurla Complex and Chandivali in November 2023 for around Rs 740 crore. This strategic decision to invest in commercial real estate was driven by the desire to secure assets that yield good yields and are leased to prime tenants.
After the passing of Rakesh Jhunjhunwala in August 2022, Rekha Jhunjhunwala has continued to manage and expand the family’s substantial investment portfolio. The family, known for its sprawling 14-storey bungalow in Malabar Hills built at a cost of Rs 371 crore, remains a prominent figure in India’s real estate and investment landscapes. Their real estate ventures, characterized by high-profile acquisitions and a keen eye for valuable assets, continue to set trends in the market.
