Dmart Ceo buys Rs 70 Crore house in Mumbai from Rustomjee

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By Money Control News IST (Released)

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Following Avenue Supermarts’ stock price surge last year, Noronha became India’s wealthiest professional manager with a net worth of over $1 billion. He owns nearly 2% of the capital of Avenue Supermarts, which owns and operates DMart stores.

In one of Mumbai’s biggest real estate deals, Ignatius Navil Noronha of DMart chain of stores has bought a house in Bandra (East) for Rs 66 crore. He also paid a stamp duty of Rs 3.30 crore. Noronha, one of India’s wealthiest CEOs, has booked two units in the ongoing Rustomjee Seasons project, located near the Bandra Kurla complex business district.

Both apartments have a combined RERA carpet area of ​​8640 square feet according to registration documents on Zapkey. Additionally, there is a 912 square foot terrace and terrace, making the total size of Noronha’s apartment 9,552 square feet. It will have access to 10 parking spaces.

The deal marks a new high in deal size for the fast-growing Bandra East market, which has attracted considerable buyer interest over the past decade. The project benefited from its proximity to the new BKC business center as well as limited competition from slow and stalled projects in the surrounding area. Rustomjee Seasons is currently in an advanced stage of completion.

Boman Irani of Rustomjee, the project’s developer, was unavailable for comment. Messages sent to Noronha received no response.

Following Avenue Supermarts’ stock price surge last year, Noronha became India’s wealthiest professional manager with a net worth of over $1 billion. He owns nearly 2% of the capital of Avenue Supermarts, which owns and operates DMart stores.

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