Meet man, who was ‘right hand’ of Rakesh Jhunjhunwala, now in news for buying Rs 1230000000 home

According to the report, this apartment was purchased from ‘Sahana Group’s ‘Skylark Buildcon’ and ‘Moon Rays Realty.’

New Delhi: Rakesh Jhunjhunwala‘s former associate and close aide has purchased a lavish apartment in Mumbai. Utpal Sheth acquired this apartment in the ‘Oberoi Three Sixty West’ building in Worli for whopping Rs 123 crore. Often referred to as Rakesh Jhunjhunwala’s right hand, Utpal Sheth is the CEO of ‘Rare Enterprises’ who worked closely with the legendary investor.

According to a report by The Economic Times (ET), the apartment is located in a building named ‘Oberoi Three Sixty West’ on Dr. Annie Besant Road. The price of this apartment is reported to be over Rs 123 crore.

All you need to know about Utpal Sheth’s lavish property

• The apartment is located on the 54th floor of a tower in ‘Oberoi Three Sixty West.’
• The total area of the apartment is 15,795 square feet
• The apartment includes a large balcony of 884 square feet.
• Sheth, along with two other family members, purchased this apartment.
• He co-founded a multi-asset financial services platform called ‘Trust Group.’
• According to the documents, the deal was finalized on September 15, with a stamp duty payment of Rs 7.40 crore.
• According to the report, this apartment was purchased from ‘Sahana Group’s ‘Skylark Buildcon’ and ‘Moon Rays Realty.’
• Both companies work in collaboration with ‘Oasis Realty,’ the developer of ‘Oberoi Three Sixty West.’
• As part of the deal, Sheth has also received seven parking slots in ‘Oberoi Three Sixty West.’
• However, it is important to note that neither Sheth nor ‘Oberoi Realty’ has responded regarding this transaction.

The luxury real estate in Mumbai has seen a massive rise. According to the reports, a record number of properties were sold across India’s eight largest cities in 2023. There has been a significant rise in demand, particularly in the premium and luxury segments. This trend is especially prominent in South and Central Mumbai, home to the most expensive apartments in India.