Promoters of electric cables firm buy two flats in Mumbai for ₹50.76 crore

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Promoters of wires and cables manufacturer RR Kabel Ltd, Sumeet Mahendrakumar Kabra and Mahendra Kumar Rameshwarlal Kabra, have bought two housing units in Prabhadevi, Mumbai, for 50.76 crore, documents accessed by Zapkey.com showed.

Promoters of wires and cables manufacturer RR Kabel Ltd, Sumeet Mahendrakumar Kabra and Mahendra Kumar Rameshwarlal Kabra, have bought two housing units in Prabhadevi, Mumbai for <span class=
Promoters of wires and cables manufacturer RR Kabel Ltd, Sumeet Mahendrakumar Kabra and Mahendra Kumar Rameshwarlal Kabra, have bought two housing units in Prabhadevi, Mumbai for 50.76 crore (Picture for representational purposes only) (HT PHOTO)

The housing units located on the 48th and 49th floor were registered on February 13, 2024, the agreement for sale document showed.

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The two sea-facing apartments have been bought from the real estate firm 25 South Realty Limited, the documents showed.

The residential project consists of three towers and was jointly developed by real estate firm Wadhwa Group and local developer, Hubtown, on a five-acre plot. The project comprises three and four bedroom apartments.

The RERA carpet area of the first unit is 3966 sq ft for each of the two units. Additional area amounts to 735.40 sq ft for both the flats. The units come with three single and two tandem car parkings, the documents showed.

The buyers could not be contacted.

The company listed on the stock exchange in September last year. It is a consumer electric industries and has been operating for more than 25 years.

Other top property deals in Mumbai

Promoters of a pharmaceutical manufacturing firm, Macleods Pharmaceuticals – Girdhari Lal Bawri, Rajendra Agarwal and Banwari Lal Bawri – have purchased a bungalow in Juhu, Mumbai, for 101 crore recently.

Last year, Everest Group promoter Sanjeev Vadilal Shah and wife Malati purchased a 6,294 sq ft sea facing apartment in Oberoi Realty’s luxury project Three Sixty West in Worli for 73.50 crore.

Also Read: Real Estate Trends: Five clinchers for a 100 crore property deal

Also Read: Is capital appreciation the key motivation for rich real estte investors to buy luxury properties

Binita Shah, a board member of BDR Pharmaceuticals and the wife of its founder and CMD Dharmesh Shah, had purchased two flats for 80.8 crore in Central Mumbai’s Worli area from K Raheja Corp last year.

In 2022, Realtor Devvrat Developers has purchased five sea-facing luxury apartments in 25 South in Central Mumbai’s Prabhadevi for more than 113.26 crore.

Also Read: Mumbai’s property registrations touch 11742 units in February 2024; up 21% y-o-y

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