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Sumir Chadha, the co-founder and managing director of WestBridge Capital, has made an illustrious entry into Mumbai's opulent real estate landscape with the acquisition of an exquisite sea-view luxury apartment. Situated in the esteemed Worli locality on Dr. Annie Besant Road, this residence, occupying a sprawling 7,459 sq. ft expanse on the 60th floor of the Oberoi Three Sixty West tower, exemplifies a remarkable feat of urban living. The transaction, valued at a staggering Rs 96.12 crore, underscores Chadha's discerning taste for superlative living spaces.
Elevating exclusivity, this acquisition underscores the apartment's value at Rs 1.29 lakh per square foot, entering the realm of prestigious real estate deals. Calculated meticulously using the 6,779 sq. ft. carpet area, it exceeds expectations. The property, acquired from Oberoi Realty, was registered on August 18, complemented by Chadha's Rs 3.59 crore stamp duty, showcasing dedication to unparalleled sophistication. Additionally, this acquisition is not just about a luxurious living space; it includes exclusive access to five car parking slots, with the developer retaining two, as indicated by documents on IndexTap(dot)com.
Sumir Chadha's stature in the realm of investment is well-established. As a prominent figure in WestBridge Capital, an eminent investor in India with a focus on public and late-stage private enterprises, Chadha has consistently displayed a keen acumen for astute financial decisions. Having been an integral part of India's investment landscape for over two decades, Chadha's Silicon Valley roots, coupled with his association with distinguished entities like Sequoia Capital India, Goldman Sachs, and McKinsey & Co., affirm his profound influence in the financial domain.
This luxury apartment is nestled within the sophisticated ambiance of Oberoi Three Sixty West, an integrated development featuring two towers. The presence of The Ritz-Carlton Hotel and luxury residences under The Ritz-Carlton's management amplifies the allure of this exclusive living space. The acquisition by Chadha adds to the impressive portfolio of Oberoi Realty, which had already procured over 60 apartments in the upscale Three Sixty West project. Oberoi Realty made these acquisitions to buy out the inventory held by the Sahana Group at a considerable investment of Rs 4,000 crore.
In a city renowned for its extravagant real estate landscape, this transaction echoes Mumbai's unwavering trajectory of redefining property records. Despite economic fluctuations and market nuances, Mumbai's property market continues to demonstrate unparalleled resilience, consistently setting new benchmarks. The surge in stamp duty collections, particularly in premium and mid-income housing segments, is a testament to the city's steadfast real estate performance, making it a formidable player on the global property map.
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