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BGH Properties, a subsidiary of the Aditya Birla Group, has acquired Sunny Ville, a bungalow spread over almost half an acre on South Mumbai's Carmichael Road for over Rs 220 crore. This comes after Kumar Mangalam Birla, the chairman of the Aditya Birla Group, bought Jatia House, a two-storey palatial house in the city's tony Malabar Hill area, for Rs 425 crore in September 2015, which was then the largest-ever property deal in India. Sunny Ville is located not too far from Jatia House and has a total constructed area of nearly 19,000 sq ft along with covered garages.
B G H Properties acquired the bungalow and the land parcel from the Estate of Ernie Kharshedji Dubash through her surviving will executors Adi N Palia, Darious Sorab Cambatta, Cyrus Soli Nallaseth, Adi Hirji Jehangir, and Chetan Mahendra Shah. The buyer paid stamp duty of Rs 13.20 crore for the registration of the deal concluded on April 10, as shown in documents accessed through Zapkey.com.
Over the past few years, several bungalows in South Mumbai's toniest localities, such as Carmichael Road, Altamount Road, Nepean Sea Road, and Malabar Hill, have made way for luxury skyscrapers. Several industrialists and India's uber-rich have also been buying bungalows for their personal use in the area. Soon after the Jatia House deal in 2015, Cyrus Poonawalla, the chairman of the Poonawalla Group, emerged as the highest bidder for the US Consulate's Lincoln House at Breach Candy for Rs 750 crore, making it the costliest transaction for a house.
In 2014, the Godrej family acquired Mehrangir, the Malabar Hill house of Homi Bhabha, the father of India's nuclear programme, for Rs 372 crore. In April 2021, Radhakishan Damani, a billionaire investor and founder of D-Mart, bought a bungalow in Malabar Hill for Rs 1,001 crore, the largest-ever residential transaction anywhere in the country. Damani acquired this property along with his younger brother Gopikishan Damani.
South Mumbai's poshest localities are known for their exclusivity and high-end properties, attracting the crème-de-la-crème of the city. These areas are one of the most expensive real estate properties in the world and have become a symbol of prestige and luxury. With the increasing demand for properties in these areas, the prices are expected to rise further, making it even more exclusive and unaffordable for most people.
In conclusion, BGH Properties' acquisition of Sunny Ville is another addition to the list of expensive properties owned by the Aditya Birla Group. The trend of buying bungalows in South Mumbai's toniest localities by the uber-rich and industrialists is not new, and the demand for these properties has only increased in recent years, leading to skyrocketing prices. With the rise of luxury skyscrapers in the area, several bungalows have made way for these high-rise buildings, further.
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