Stock market icon and DMart founder, Radhakishan Damani, along with his brother Gopikishan Damani has purchased a Rs 1,001-crore home in Malabar Hill in South Mumbai.

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The registration date of the property, purchased by Damani, is March 31, 2021, reports said. He purchased the new house from Saurabh Mehta, Varsha Mehta, and Jayesh Shah.

The current market price for the property as per the ready-reckoner is around Rs 724 crore.

According to the documents registered with the Department of Registration & Stamps, a stamp duty of Rs 30 crore was paid for the property.

Reports added that it is one of the most expensive deals in the country’s residential real estate market in recent times.

Radhakishan Damani also owns a property at Mumbai’s Altamount Road - the Indian version of the Billionaires' Row in London.

As per the Hurun India Rich List 2021, Radhakishan Damani is the eighth richest Indian with a net worth of $14.5 billion.

(With inputs from agencies)

(Edited by : Aditi Gautam)

First Published:Apr 4, 2021 1:52 PM IST