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Yatin Shah, co-founder of 360 ONE, has purchased a sea-view penthouse in Mumbai's upscale Worli area for over INR 158.51 crore. The luxury duplex, spanning 10,312 sq ft across two top floors, was bought from Prime Realty LLP. The deal, valued at nearly INR 1.54 lakh per sq ft, includes significant stamp duty charges. Mumbai's prime property market continues to perform well, driven by high demand across various segments. This sale adds to the city's record-setting property deals, attracting wealthy individuals from diverse industries.
Yatin Shah, co-founder of the financial services firm 360 ONE, has acquired a luxurious penthouse with a sea view in one of the exclusive residential towers on Dr. Annie Besant Road, located in Mumbai's high-end Worli area. The property was purchased for more than INR 158.51 crore. Advertisement
Along with his wife, Shah has bought a spacious duplex apartment, covering 10,312 sq ft across the top two floors of the tower. The property was purchased from Prime Realty LLP, a development company that counts politician and industrialist Praful Patel and his family members among its directors. The deal is valued at nearly INR 1.54 lakh per sq ft, placing it among the most expensive property deals in the country in terms of price per square foot.
The buyer also paid over INR 9.51 crore in stamp duty for the registration of the deal, which took place on October 30. The transaction itself was finalised on October 28, according to documents accessed via Zapkey.com. The property spans the entire 29th and 30th floors, effectively taking up two full levels of the building. The 29th floor, with 5,513 sq ft of space, features the living areas, while the 30th floor, measuring 4,799 sq ft, leads out to a private terrace of 7,355 sq ft.
Despite multiple queries sent by email to Shah's team and the developer, no responses were received by the time the article was published. In addition to being a co-founder, Shah serves as the CEO of 360 ONE's wealth management division. 360 ONE WAM, founded by Karan Bhagat and Shah, is listed on the stock exchanges and stands as one of India's largest wealth and asset management firms. The company advises over 7,500 families in the High Net Worth Individuals (HNI) and Ultra HNI segments, managing aggregate assets exceeding USD 68 billion.
Sales of residential properties across the country's top eight cities reached an all-time high in 2023 and have continued to perform strongly into this year, driven by high demand in the mid-income, premium, and luxury segments. Mumbai, being the most expensive property market in the country, has continued its record-setting streak in property deals. South and Central Mumbai, home to some of India's priciest properties, have played a significant role in this trend. These areas have seen numerous high-value transactions in recent years, involving industrialists, top corporate executives, celebrities, and sports figures.
The high-value property acquisition by Yatin Shah highlights the growing demand for luxury real estate in Mumbai, particularly in South and Central Mumbai, which continue to attract the country's wealthiest individuals. As the property market thrives, the region remains at the forefront of high-end property transactions, setting records for both pricing and scale. With luxury properties gaining traction, Mumbai's real estate market remains a key player in India's broader economic landscape.
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