Fashion designer Sandeep Khosla buys apartment in Mumbai
Real Estate

Fashion designer Sandeep Khosla buys apartment in Mumbai

Sandeep Khosla, co-owner of the label Abu Jani and Sandeep Khosla, has paid more than Rs 25.75 crore for a luxury flat in Mumbai's plush Juhu neighborhood's premium residential project Rustomjee Elements. The stamp duty on the flat in the C wing of the ready-to-move development off Juhu Versova Link Road was more than Rs 1.54 crore.

The gated community of 173 residences is spread across 3 acres. On March 20, the designer completed and registered the transaction, as evidenced by the documents accessed via Zapkey.com. Following the announcement in the Union Budget 2023-24 to limit the deduction from capital gains on investment in residential property to Rs 10 crore from April 1, the sale of luxury properties increased significantly in February and March.

ABSA Fashions, the designer duo's company, recently signed a five-year lease for a total of 18 floors of office space in Mumbai's western suburb Goregaon. The company will pay more than Rs 60 crore in rent for this office space spread across more than 102,000 square feet over the lease term, excluding escalation.

According to the agreement, the rent will increase by 12% after the first 36 months. Abu Jani and Sandeep Khosla are among the iconic names in the Indian fashion industry with clientele in influential circles of industrialists to leading Bollywood personalities. In April 2022, Reliance Brands entered into a definitive agreement to acquire 51% stake in their designer label.

Also Read
G7 Nations pledge to produce carbon-free electricity by 2035
K'taka to permit recurring energy banking for renewable energy projects

Sandeep Khosla, co-owner of the label Abu Jani and Sandeep Khosla, has paid more than Rs 25.75 crore for a luxury flat in Mumbai's plush Juhu neighborhood's premium residential project Rustomjee Elements. The stamp duty on the flat in the C wing of the ready-to-move development off Juhu Versova Link Road was more than Rs 1.54 crore. The gated community of 173 residences is spread across 3 acres. On March 20, the designer completed and registered the transaction, as evidenced by the documents accessed via Zapkey.com. Following the announcement in the Union Budget 2023-24 to limit the deduction from capital gains on investment in residential property to Rs 10 crore from April 1, the sale of luxury properties increased significantly in February and March. ABSA Fashions, the designer duo's company, recently signed a five-year lease for a total of 18 floors of office space in Mumbai's western suburb Goregaon. The company will pay more than Rs 60 crore in rent for this office space spread across more than 102,000 square feet over the lease term, excluding escalation. According to the agreement, the rent will increase by 12% after the first 36 months. Abu Jani and Sandeep Khosla are among the iconic names in the Indian fashion industry with clientele in influential circles of industrialists to leading Bollywood personalities. In April 2022, Reliance Brands entered into a definitive agreement to acquire 51% stake in their designer label. Also Read G7 Nations pledge to produce carbon-free electricity by 2035 K'taka to permit recurring energy banking for renewable energy projects

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code