MUMBAI: Across the Mumbai port, the pandemic and the resultant lockdown have led to a boom in property in the sleepy coastal city Alibaug. In perhaps the biggest deal in the city, a 6-acre beach house in Awas village of Alibaug has been sold for Rs 80 crore.
a. huge property owned by Parsi business The family has been bought by Shrikantadevi Damani, wife of Radhakishan Damani, an engineer at Atash Leasing, stock market investor and founder of supermarket chain DMart. Last April, Radhakishan and his brother Gopikishan bought a bungalow on Narayan Dabholkar Road in south Mumbai. Record Rs 1,001 crore.
On Friday, the Atash family’s patriarch, Cyrus Engineer did not respond when contacted by TOI. Property documents show that the deal was entered into on Thursday. “It is an old-fashioned house that was built in the early 1980s, long before the Coastal Regulation Zone laws came into force. The land is full of fruit trees,” said local sources.
The Damanis have a huge investment in Alibaug. In 2015, Radhakishan Damani bought the five-star Radisson Blu Resort & Spa for Rs 135 crore. According to locals, the Damani family also owns a large farmhouse spread over 20 acres in Jirad village.
Two months ago, actor Deepika Padukone and Ranveer singh Sources said that he bought a house in Mapgaon village for Rs 22 crore. He said that when around 150 families from Mumbai shifted to their weekend homes after the lockdown, the land rush intensified.
“During the lockdown, social media was flooded with posts of families walking in large gardens, jogging on the beach or swimming. Others who saw it wanted the same lifestyle,” he said.
The recently introduced roll-on-roll-off ferry service between the city and Mandwa also added to the demand. It takes one hour to travel in air conditioned comfort. Land prices are up 50% from last year.
Swish set with houses in Alibaug includes Shah Rukh KhanRatan Tata, Noel Tata, Shapoor Mistry, Nikhil and Alina Meswani, and the Godrej family.
(Inputs by Umesh Parida)
a. huge property owned by Parsi business The family has been bought by Shrikantadevi Damani, wife of Radhakishan Damani, an engineer at Atash Leasing, stock market investor and founder of supermarket chain DMart. Last April, Radhakishan and his brother Gopikishan bought a bungalow on Narayan Dabholkar Road in south Mumbai. Record Rs 1,001 crore.
On Friday, the Atash family’s patriarch, Cyrus Engineer did not respond when contacted by TOI. Property documents show that the deal was entered into on Thursday. “It is an old-fashioned house that was built in the early 1980s, long before the Coastal Regulation Zone laws came into force. The land is full of fruit trees,” said local sources.
The Damanis have a huge investment in Alibaug. In 2015, Radhakishan Damani bought the five-star Radisson Blu Resort & Spa for Rs 135 crore. According to locals, the Damani family also owns a large farmhouse spread over 20 acres in Jirad village.
Two months ago, actor Deepika Padukone and Ranveer singh Sources said that he bought a house in Mapgaon village for Rs 22 crore. He said that when around 150 families from Mumbai shifted to their weekend homes after the lockdown, the land rush intensified.
“During the lockdown, social media was flooded with posts of families walking in large gardens, jogging on the beach or swimming. Others who saw it wanted the same lifestyle,” he said.
The recently introduced roll-on-roll-off ferry service between the city and Mandwa also added to the demand. It takes one hour to travel in air conditioned comfort. Land prices are up 50% from last year.
Swish set with houses in Alibaug includes Shah Rukh KhanRatan Tata, Noel Tata, Shapoor Mistry, Nikhil and Alina Meswani, and the Godrej family.
(Inputs by Umesh Parida)
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