The 52 year old Steel magnate Sajjan Jindal, Chairman and MD of JSW Steel (3rd largest producer in India) has finally managed to close the long pending deal to acquire Maheshwari House, a sea-facing three-storey bungalow at Nepean Sea Road in south Mumbai.
Jindal has paid around Rs 200 crore to Manoj Maheshwari in a long pending deal for which last year, Jindal he paid Rs 300 crore to other family members. At Rs. 500 crore it one of the most expensive residential property deals in India.
The bungalow and building are spread over more than an acre in one of the prime and most expensive localities in Mumbai. Property prices in this plush locality hover around Rs. 85,000 a sq ft.
Source: The Economic Times