Birla Bought The Iconic Jatia House To Rs 425 Crore

<div dir="ltr" style="text-align: left;" trbidi="on"> <div class="separator" style="clear: both; text-align: center;"> <a href="http://images.tribuneindia.com/cms/gall_content/2015/9/2015_9$largeimg08_Sep_2015_173110677.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="Birla Bought The Iconic Jatia House To Rs 425 Crore" border="0" src="http://images.tribuneindia.com/cms/gall_content/2015/9/2015_9$largeimg08_Sep_2015_173110677.JPG" title="Birla Bought The Iconic Jatia House To Rs 425 Crore" /></a></div> <div style="text-align: justify;"> <b><br /></b></div> <div style="text-align: justify;"> <b><br /></b></div> <div style="text-align: justify;"> <b>Leading industrialist Kumar Mangalam Birla bought the iconic Jatia House within the plush Malabar Hill area here pertaining to Rs 425 crore.</b></div> <div style="text-align: justify;"> <br /></div> <div class="separator" style="clear: both; text-align: center;"> <a href="http://economictimes.indiatimes.com/photo/48691223.cms" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img alt="jatia house at malbaar hill" border="0" src="http://economictimes.indiatimes.com/photo/48691223.cms" title="jatia house at malbaar hill" /></a></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The deal is considered to be highest ever as the property has been recently bought for personal-use, skillfully developed said.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Jones Lang LaSalle (JLL), a  consultancy firm which performed the deal, features confirmed the purchase. The firm also confirmed the property will be employed for the industrialist's private purpose.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <b><i>“Jatia House, which has a built-up area of about 25,000 sq ft has been sold at Rs 425 crore to Birla,” a JLL official said.</i></b></div> <div style="text-align: justify;"> <br /></div> <div class="separator" style="clear: both; text-align: center;"> <a href="http://images.mid-day.com/images/2015/jul/Jatia-house-2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="http://images.mid-day.com/images/2015/jul/Jatia-house-2.jpg" /></a></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> This is the best deal after the particular iconic Maheshwari Residence on Mumbai's Napean Sea Road that was bought by industrialist Sajjan Jindal associated with JSW in 2011.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> As outlined by PWC Executive Director Shashank Jain,, when properties are bought for personal-use, the commercial valuation is generally not evaluated.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <b><i>“The valuation of the property cannot be ascertained as it has been bought for personal use. Also such transactions do not wait for the right market conditions and are sold as per the requirement of the owner,” he said.</i></b></div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The Jatia Residence was owned by means of Y Jatia in addition to was occupied by means of brothers Arun in addition to Shyam Jatia, who run the Pudumjee Industrial sectors. The property was bought in 70s from MC Vakeel.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> A spokesperson in the Aditya Birla Group refused to touch upon the deal.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Not too long ago, Smita Crishna, cousin of industrialist Jamshyed Godrej, bought Meherangir, an iconic bungalow associated with Homi J Bhabha, father of India's atomic energy programme, for Rs 372 crore. This specific property was additionally bought for private use, experts explained.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The billionaire Kumar Birla family members, with a networth associated with $8. 5 million, currently lives at the Mangalyan on the particular tony Altamount Road within the southern tip from the city, where the place's richest man Mukesh Ambani also lives within the 27-storey Antilia.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The Ambanis made history by shelling out a reported $1 billion to make the tower throughout 2011, making their world's priciest house till date.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> The actual Jatia House is usually occupied by brothers Arun and Shyam Jatia, who run the particular Pudumjee Industries that is primarily into cardstock products. The property was bought within the 1970s from MC Vakeel from the MP Jatia Group.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> Last year, Smita Crishna, cousin of industrialist Jamshyed Godrej, bought the Meherangir, a iconic bungalow associated with Homi J Bhabha, the daddy of the place's atomic energy system, for Rs 372 crore. This specific property was additionally bought for private use.</div> <div style="text-align: justify;"> <br /></div> <div style="text-align: justify;"> <b>Source: tribuneindia</b></div> </div>

Birla Bought The Iconic Jatia House To Rs 425 Crore

Leading industrialist Kumar Mangalam Birla bought the iconic Jatia House within the plush Malabar Hill area here pertaining to Rs 42...

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