Tata Group chairman N Chandrasekaran and his family have purchased a duplex in a Pedder Road luxury tower in Mumbai for Rs 98 crore which property market observers described as a big “high-profile” transaction. 33 South, a 28-storey skyscraper, is a high-end condominium near Jaslok Hospital in south Mumbai where the Chandras have been staying in the duplex on lease for the past five years. The duplex on the 11th and 12th floors is spread over a carpet area of roughly 6,000 sq ft.
The deal was registered in the name of Chandrasekaran (58), his wife Lalitha and son, Pranav. The transaction works out to Rs 1.6 lakh per sq ft. The seller is Jivesh Developers Pvt Ltd, a company controlled by builder Samir Bhojwani.
The tower was constructed in 2008 by Bhojwani and Vinod Mittal. Chandrasekaran’s decision to buy the duplex comes after Tata Sons recently reappointed him as chairman for another five years till February 20, 2027. Chandrasekaran is one of the country’s highest-paid corporate bosses with an annual remuneration of about Rs 91 crore in fiscal 2021.
Family members of Bajaj Electricals Ltd (BEL) Chairman And Managing Director Shekhar Bajaj too have bought two luxury apartments in south Mumbai for ?94 crore.
Shekhar Bajaj’s wife Kiran Bajaj has bought a 3184 sq ft flat at Peninsula Carmichael Residences, in Tardeo, for ?47 crore. In a separate transaction, his daughter-in-law Pooja Bajaj bought a 3160 sq ft apartment in the building for ?47 crore.
Both the four-bedroom apartments, located on the eighth floor, were registered on 28 April. The buyers will have access to a total of eight car parks and paid stamp duty of ?2.82 crore for each apartment, according to documents.
The Carmichael Residences project KBK Group and Peninsula Land Ltd has just 28 residences. A few months back, a Mumbai-based businessman bought an apartment in the tower for ?27.7 crore.
