Mumbai, Sept 8: In the country's most expensive property deal, Kumar Mangalam Birla, the Chairman of the Aditya Birla Group has purchased Jatia House bungalow at whopping Rs 425 crore.
According to media reports, 48-year-old Birla has bought a sea-facing Jatia House at Little Gibbs road, Malabar Hill in Mumbai, for his personal use.
The sprawling bungalow is spread across 31,495 sq ft and 25,000 sq ft built-up area. The posh bungalow was sold on Monday, Sept 7, during an auction.
The bungalow has large open spaces and a large parking area.
Birla has reportedly paid 10 percent of the amount and the remaining amount will be paid in coming days.
Birla presently stays in a bungalow on Altamount Road, that is hardly a 10-minute drive from his newly bought bungalow.
The bungalow was owned by Y Jatia, who had bought if from M C Vakeel in the 70s.