India¡¯s 3rd Richest Woman Rekha Jhunjhunwala Buys Entire Building Worth Rs 118 Cr For Sea View

Rekha Jhunjhunwala, ranked as the third-richest woman in India by Forbes, boasts a net worth of approximately $8.0 billion (Rs 66,000 crore). After the passing of her husband, Rakesh Jhunjhunwala, in 2022, she inherited his substantial stock portfolio, propelling her to become one of India's wealthiest women. Her investment portfolio spans 29 companies, featuring holdings in prominent firms like Tata Motors and Titan.

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According to a report by Moneycontrol, Rekha Jhunjhunwala, the wife of the late famed investor Rakesh Jhunjhunwala, has acquired almost all the apartments in a building for Rs 118 crore. This move aims to maintain the unobstructed view of the Arabian Sea from her residence in Malabar Hill.

It¡¯s All About The View!

Rockside CHS, located adjacent to Jhunjhunwala's RARE Villa residence, was slated for redevelopment under a cluster scheme. Shapoorji Pallonji, the developer, proposed a commercial plan offering homeowners an additional carpet area of nearly 50 percent in the renovated flats. On average, each of these apartments spans 2100 square feet. Documents obtained by IndexTap.com reveal that the Jhunjhunwala family has paid stamp duty exceeding Rs 9.02 crore.

Jhunjhunwala has acquired almost all the units within the old building. Registration documents obtained by Zapkey reveal that Jhunjhunwala, through multiple entities, purchased nine apartments totaling Rs 118 crore since November 2023.

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In a separate deal, Jhunjhunwala also acquired another residence worth Rs 11.76 crore in Walkeshwar, as reported by News18. The apartment, spanning 1,666 sqft of carpet area, is located in Rockside Apartment, a building over 50 years old near the Arabian Sea. Jhunjhunwala paid stamp duty and registration fees totaling Rs 59 lakh.

The Jhunjhunwalas And Their Legacy

Rekha Jhunjhunwala, a Mumbai University graduate, tied the knot with Rakesh Jhunjhunwala in 1987. Together, they raised three children - Nishtha, Aryaman, and Aryaveer. Rakesh Jhunjhunwala, with a net worth of $5 billion (Rs 41,000 crore approx.), passed away on August 14, 2022, at the age of 62.

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On March 22, 2023, the late Rakesh Jhunjhunwala was posthumously conferred with the Padma Shri, acknowledging his significant contributions to trade and industry.