NEW DELHI/MUMBAI: Billionaire investor Rakesh Jhunjhunwala on Monday bought half of a seafacing building, comprising six plush apartments, in Mumbai's upmarket Malabar Hill area owned by Standard Chartered Bank, for Rs 176 crore, more than two persons who knew details of the open bidding, told ET asking not to be named.
Jhunjhunwala told ET that he did not want to confirm nor deny the development. A spokesman for Standard Chartered declined to comment. A spokesman for property consultant Jones Lang LaSalle, which was the transaction advisor, also declined to comment.
This is the fourth high-value transaction to take place in south Mumbai over the last few months.