360 ONE owner buys Rs 1.70 billion worth Mumbai apartments
Real Estate

360 ONE owner buys Rs 1.70 billion worth Mumbai apartments

For a total of Rs 1.70 billion, Karan Bhagat, the founder, managing director and chief executive officer of the wealth and alternatives-focused asset business 360 ONE, purchased two luxurious sea-view apartments in a super-premium residential building in Mumbai's affluent Worli neighbourhood. Situated on the 45th and 46th floors of the Three Sixty West building on Dr Annie Besant Road, the apartments have a built-up size of 12,900 square feet. Additionally, Bhagat will get first dibs on eight parking spaces. The agreement was reached for around Rs 1.31 lakh per square foot, which elevated it to the top of the list of the most costly agreements in the nation overall. Along with his colleagues, Bhagat launched 360 ONE, formerly known as IIFL Wealth & Asset Management, in 2008. With more than $56.3 billion in assets under management, the company is presently one of the biggest wealth and asset management companies in India. Approximately 7,200 elite families in India, including business magnates, innovators in cutting-edge technology, and prominent legal experts, CEOs, athletes, and entertainers are among the clients of Bhagat's team. Additionally, it oversees financial resources for some of the biggest sovereign organisations and college endowments in the US, Canada, and the Middle East. Bhagat purchased the apartments directly from Oberoi Realty, the joint venture between Oasis Realty and Oberoi Realty, the property developer. Oberoi Realty sold both units within three years of buying them from joint venture partner Sahana Group. Under set-off period laws, stamp duty on transaction gains only gets transferred to the Maharashtra government exchequer if the property is resold within three years of the developer's original purchase agreement. Oberoi Realty did not reply to an email, and Bhagat did not want to comment. Two buildings make up the mixed-use Three Sixty West project; one will house The Ritz-Carlton Hotel, while the other will house luxurious residences managed by The Ritz-Carlton. The developer, Oasis Realty, sold Oberoi Realty one of the building's more than sixty flats, which Bhagat bought. The company had to pay Sahana a total of Rs 40 billion to acquire her inventory for the project. One of the largest single apartment acquisitions in Indian history, the developer also spent Rs 2.30 billion to purchase a palatial penthouse from Sahana in the same building. Comparable in size, BK Goenka of the Welspun Group similarly spent Rs 2.30 billion for a penthouse at Oberoi Three Sixty West.

For a total of Rs 1.70 billion, Karan Bhagat, the founder, managing director and chief executive officer of the wealth and alternatives-focused asset business 360 ONE, purchased two luxurious sea-view apartments in a super-premium residential building in Mumbai's affluent Worli neighbourhood. Situated on the 45th and 46th floors of the Three Sixty West building on Dr Annie Besant Road, the apartments have a built-up size of 12,900 square feet. Additionally, Bhagat will get first dibs on eight parking spaces. The agreement was reached for around Rs 1.31 lakh per square foot, which elevated it to the top of the list of the most costly agreements in the nation overall. Along with his colleagues, Bhagat launched 360 ONE, formerly known as IIFL Wealth & Asset Management, in 2008. With more than $56.3 billion in assets under management, the company is presently one of the biggest wealth and asset management companies in India. Approximately 7,200 elite families in India, including business magnates, innovators in cutting-edge technology, and prominent legal experts, CEOs, athletes, and entertainers are among the clients of Bhagat's team. Additionally, it oversees financial resources for some of the biggest sovereign organisations and college endowments in the US, Canada, and the Middle East. Bhagat purchased the apartments directly from Oberoi Realty, the joint venture between Oasis Realty and Oberoi Realty, the property developer. Oberoi Realty sold both units within three years of buying them from joint venture partner Sahana Group. Under set-off period laws, stamp duty on transaction gains only gets transferred to the Maharashtra government exchequer if the property is resold within three years of the developer's original purchase agreement. Oberoi Realty did not reply to an email, and Bhagat did not want to comment. Two buildings make up the mixed-use Three Sixty West project; one will house The Ritz-Carlton Hotel, while the other will house luxurious residences managed by The Ritz-Carlton. The developer, Oasis Realty, sold Oberoi Realty one of the building's more than sixty flats, which Bhagat bought. The company had to pay Sahana a total of Rs 40 billion to acquire her inventory for the project. One of the largest single apartment acquisitions in Indian history, the developer also spent Rs 2.30 billion to purchase a palatial penthouse from Sahana in the same building. Comparable in size, BK Goenka of the Welspun Group similarly spent Rs 2.30 billion for a penthouse at Oberoi Three Sixty West.

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement