KKR India CEO acquires luxury apartment in Mumbai for Rs 880 million

06 Nov 2024 CW Team

Gaurav Trehan, CEO, KKR India, has purchased a luxurious sea-view apartment in Morena House on South Mumbai’s upscale Carmichael Road for nearly Rs 880 million from JSW Realty, the real estate arm of JSW Group. The property, covering 5,381 sq. ft. of carpet area, is priced at approximately Rs 163,000 per sq. ft., marking one of the most expensive residential deals in India.

Trehan, who also serves as Co-Head of KKR Asia Pacific and Head of Asia Pacific Private Equity, paid Rs 52.6 million in stamp duty for the registration. The transaction, finalised on October 18, includes exclusive access to four parking spaces, a balcony, and a 434 sq. ft. deck area, according to data from realty analytics firm Zapkey.com.

The Morena House project, developed by Windsor Residency under JSW Realty, is situated on a plot previously home to the Belgian Consulate, acquired by JSW in 2008.

The deal underscores sustained demand for high-end real estate in Mumbai, where premium properties in prime locations continue to attract affluent buyers. Residential sales across India’s top eight cities reached record highs in 2023 and remain strong in 2024, particularly in the luxury segment. Mumbai, the nation’s most expensive real estate market, has seen a surge in property registrations, maintaining year-over-year growth for 15 months since August 2023, with over 10,000 registrations recorded each month in 2024’s first ten months. (ET)

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