Jhunjhunwala’s RARE Villa house is situated just behind sea-facing Rockside CHS, which was up for a rework. Rockside and six more buildings in Walkeshwar were slated for redevelopment under a cluster scheme. Popular developer Shapoorji Pallonji had finalised a commercial proposal through which each
Rekha Jhunjhunwala, wife of the late billionaire stock investor Rakesh Jhunjhunwala, has bought almost all the units in a building to beat the obstruction to the panoramic view of the Arabian Sea from her Malabar Hill home.
Jhunjhunwala’s RARE Villa house is situated just behind sea-facing Rockside CHS, which was up for a rework. Rockside and six more buildings in Walkeshwar were slated for redevelopment under a cluster scheme. Popular developer Shapoorji Pallonji had finalised a commercial proposal through which each homeowner would obtain an additional carpet area of about 50 per cent in the refurnished look.
Understanding that the redevelopment could hinder the amazing sea view from RARE Villa, Jhunjhunwala acquired every unit of the old building. Registration documents reveal that Jhunjhunwala, through multiple entities, bought nine apartments for Rs 118 crore since November 2023. Market sources have stated that the family have purchased more than 19 of the 24 apartments in the building.
The sea-facing Walkeshwar is going through rework as developers aim to cater to the super-rich in South Mumbai. Others like Lodha Malabar has made record-wreaking transactions in the last 18 months. Industrialist JP Taparia of Famy Care finalized India’s most expensive apartment deal by buying a triplex for INR 369 crore.
Her net worth is about 8.2 billion or Rs 67000 crore, as per Forbes, and is currently one of India’s richest women.
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