+
Damani seals India’s largest residential portfolio deal to date
Real Estate

Damani seals India’s largest residential portfolio deal to date

Radhakishan Damani, the founder of the retail chain DMart, and his family have purchased 24 luxury apartments in a super-premium project in Mumbai's Worli neighborhood for approximately Rs 150,00 million. This would be India’s largest residential portfolio deal to date. The Damanis bought the sea-view apartments in the Three Sixty West project on Dr. Annie Besant Road from the Sahana Group, which was developing the property in a joint venture with Oberoi Realty.

The development with mixed-use uses has two towers. The Ritz-Carlton hotel and Ritz-Carlton-managed luxury residences will reside in one. According to sources, Oberoi Realty has also acquired the Sahana Group's 63 apartments in the project as part of a buyout deal for more than Rs 340,00 million.

Damani and his company, Avenue Supermarts, have purchased a number of properties in major Indian cities that have emerged as important centers for consumption in recent years. The company has acquired five properties in Mumbai, including an eight-acre land parcel in Thane from Mondelez India, as well as retail space and land parcels worth more than Rs. 100,00 million.

Additionally, it has acquired retail space worth approximately Rs 1000 million from Sunteck Realty for its upcoming Sunteck City project in Mumbai's Goregaon suburb.The retail chain has bought two properties in Hyderabad, one each in Bengaluru and Pune, in addition to Mumbai. In addition to Damani's personal property, these transactions total more than Rs 360,00 million.

Radhakishan Damani, the founder of the retail chain DMart, and his family have purchased 24 luxury apartments in a super-premium project in Mumbai's Worli neighborhood for approximately Rs 150,00 million. This would be India’s largest residential portfolio deal to date. The Damanis bought the sea-view apartments in the Three Sixty West project on Dr. Annie Besant Road from the Sahana Group, which was developing the property in a joint venture with Oberoi Realty. The development with mixed-use uses has two towers. The Ritz-Carlton hotel and Ritz-Carlton-managed luxury residences will reside in one. According to sources, Oberoi Realty has also acquired the Sahana Group's 63 apartments in the project as part of a buyout deal for more than Rs 340,00 million. Damani and his company, Avenue Supermarts, have purchased a number of properties in major Indian cities that have emerged as important centers for consumption in recent years. The company has acquired five properties in Mumbai, including an eight-acre land parcel in Thane from Mondelez India, as well as retail space and land parcels worth more than Rs. 100,00 million. Additionally, it has acquired retail space worth approximately Rs 1000 million from Sunteck Realty for its upcoming Sunteck City project in Mumbai's Goregaon suburb.The retail chain has bought two properties in Hyderabad, one each in Bengaluru and Pune, in addition to Mumbai. In addition to Damani's personal property, these transactions total more than Rs 360,00 million.

Next Story
Infrastructure Energy

Tata Power, Suzlon Ink Rs 60 Billion Wind Energy Deal in Andhra

Tata Power has signed an agreement with Suzlon Energy to develop, construct, and supply 700 megawatt (MW) wind turbines in Andhra Pradesh. The Rs 60 billion project forms part of a 7 gigawatt (GW) renewable energy plan announced by Tata Power Renewable Energy (TPREL) and the state government in March 2025.This marks the first wind energy project in the state since 2019. The larger 7 GW programme, covering solar, wind, and hybrid projects with or without storage, is expected to attract investments of around Rs 490 billion, making it one of the state’s largest clean energy commitments.The turb..

Next Story
Infrastructure Transport

Odisha Approves Rs 12.6 Billion For 32 New Bridges

Odisha is set for a major infrastructure boost with the approval of 32 new bridges under the Setu Bandhan Yojana for FY 2025–26. The project, valued at Rs 12.6 billion, is aimed at improving road connectivity across ten districts, enhancing mobility and driving local development.The bridges will be constructed in Bolangir, Subarnapur, Nayagarh, Sambalpur, Malkangiri, Bargarh, Koraput, Jagatsinghpur, Cuttack, and Puri. Many of these areas are rural or located in difficult terrains, where improved accessibility will greatly benefit the transportation of goods and public mobility.Setu Bandhan Y..

Next Story
Infrastructure Transport

UP Plans Rs 350 Billion Gorakhpur–Shamli Expressway

Uttar Pradesh is preparing to build its largest expressway, a 700-km six-lane project that will surpass the 570-km Ganga Expressway from Meerut to Prayagraj. Designed as a greenfield project, the Gorakhpur–Shamli Expressway will cut travel time between eastern and western Uttar Pradesh to just six hours, transforming regional connectivity.The expressway will pass through 22 districts and 37 tehsils, bringing faster travel and significant economic benefits, including higher land values for farmers and employment opportunities during and after construction. A drone survey to map the route is e..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?