Essar Sells Mumbai Bungalow to Diamond Merchant’s Firm for Rs 185 Cr

A company owned by Surat-based diamond merchant Ghanshyambhai Dhanjibhai Dholakia has bought a bungalow at Worli Sea face in Mumbai for Rs 185 crore. Bungalows can rarely be found on sale in the Mumbai real estate market.

BY Realty Plus
Published - Tuesday, 03 Aug, 2021

Essar Sells Mumbai Bungalow to Diamond Merchant’s Firm for Rs 185 Cr

A company owned by Surat-based diamond merchant Ghanshyambhai Dhanjibhai Dholakia has bought a bungalow at Worli Sea face in Mumbai for Rs 185 crore. Bungalows can rarely be found on sale in the Mumbai real estate market. The seller of the property is Arkay Holdings Limited, which is a firm owned by Essar Group. The 19,886 sq ft property called Panhar Bungalow, comprising basement, ground floor and six other floors, has been bought by Hari Krishna Exports Pvt Ltd. The seller of the property is Arkay Holdings Limited, which is a firm owned by Essar Group. The property deal was registered on July 30. The per square feet cost works out to be around Rs 93,000 per sq ft, according to local brokers.