Mumbai Real Estate: Rare Enterprises CEO Utpal Sheth Purchases ₹123 Crore Sea-View Apartment In Worli

Utpal Sheth, the senior partner and CEO of Rare Enterprises and a key figure alongside the late Rakesh Jhunjhunwala, has purchased a luxurious sea-view apartment in Mumbai’s upscale Worli locality for over Rs 123 crore, according to The Economic Times report.

The newly acquired apartment boasts a 15,795 square feet of usable area, which includes a balcony of 884 square feet.

As per The Economic Times report, it is located on the 54th floor of the prestigious Oberoi Three Sixty West. He made this purchase jointly with two family members.

Details of the Deal

As per The Economic Times report, the acquisition was finalised on September 15, with a stamp duty payment of approximately Rs 7.40 crore.

The luxury apartment was bought from Skylark Buildcon and Moon Rays Realty, part of the Oasis Realty joint venture, which has developed the Oberoi Three Sixty West project.

As noted by The Economic Times report, this project includes not only luxury residences but also The Ritz-Carlton Hotel. The deal comes with other perks such as seven parking slots within the tower.

The Power of Location

South and Central Mumbai are known for housing the country’s most expensive apartments, have been at the forefront of this real estate surge.

As per The Economic Times report, these micro-markets have attracted numerous high-profile buyers, including industrialists, corporate leaders, and celebrities.