Ambika Chauhan Aibara, of Parle Products fame, recently acquired two lavish sea-view apartments in Mahalaxmi, Mumbai. Valued at over Rs 47.3 crore, these expansive units, spanning a combined 6,180 sq ft on the 24th and 25th floors of Raheja Modern Vivarea, reflect her confidence in the city's property market. This landmark development, covering a staggering 1 million sq ft and priced at approximately Rs 90,000 per sq ft, promises a top-tier living experience. The development, situated on reclaimed textile mill land, caters to Mumbai's affluent circles, adjacent to the renowned Raheja Vivarea.
Ambika Chauhan Aibara, part of the famous Parle Products family, has made headlines with her recent purchase of two luxurious sea-view apartments in Mumbai's upscale Mahalaxmi area. This significant investment, totaling over Rs 47.3 crore, highlights her confidence in the city's property market.
These spacious apartments, located on the 24th and 25th floors of the prestigious Raheja Modern Vivarea on Jacob Circle, offer a combined space of 6,180 sq. ft. Priced at Rs 23.65 crore each, the deal also includes exclusive access to six car parking slots, ensuring convenience for the buyer.
This luxury tower is part of a large-scale project by K Raheja Corp Homes, spanning 1 million sq. ft across a 3-acre land parcel. With its prime location and modern amenities, the development promises a top-notch living experience.
The project's significance lies in its transformation of land previously occupied by a textile mill, now renewed for modern living. It serves Mumbai's wealthy corporate circle and is next to the well-known Raheja Vivarea.
The acquisition by Ambika Chauhan Aibara highlights the ongoing attraction of prime real estate in the most sought-after neighborhoods in the city and contributes to the story of opulent life in Mumbai. Such investments provide witness to the attractiveness of Mumbai's skyline as property values climb.
The purchase, finalised in December, adds to the trend of high-profile property investments in the area. The Halan family also added to their investments by buying eight luxury sea-view apartments in Mahalaxmi for about Rs 104 crore. This shows they believe in the lasting popularity and growth potential of South Mumbai. These purchases follow other big deals from last year, which have boosted the area's real estate market. For example, in March 2023, J P Taparia bought a luxurious sea-facing triplex apartment in Malabar Hill for a whopping Rs 369 crore. Together, these deals highlight the strong and growing real estate sector in South Mumbai, reflecting investors' confidence in its future.
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