Deven Mehta, a young and promising entrepreneur recently bought a house opposite to the residence of one of Indians richest business tycoons, Mukesh Ambani. Shortly after buying the flats, Mr. Mehta started getting media attention as they started reporting that a Mumbai-based Businessman bought a house opposite to Mukesh Ambani’s tower Antilla.
The Rs 125 Crore Flats
Deven Mehta bought two floors of a luxury residential tower at Altamount Road located in Mumbai. Every square feet of this luxury building cost him Rs 1.47 lakh, while both the floors amounted to a total of Rs 125 crore. The going rate of each of the flats in the building is about Rs 75 to Rs 80 crore at present. However, he bought two flats at the above mentioned combined rate.
The building is 40 storeys high, where he bought the 30th and 31st floors of the building which was reportedly registered on last Friday, 30th June 2017.
It has been built on the plot that was formerly known as Washington House and was owned by the American Consulate. The building is located almost opposite Mr. Ambani’s lavish tower, Antilla.
Who is Deven Mehta?
The 47 years old businessman likes to keep a low profile personally. He was a successful investor in the capital markets before he went on to establish his company- Smart Card IT Solutions (SCIT), which as its name suggests, makes smart cards. Along with his new purchase, he also has a 40,000 sq ft holiday home in Alibaug, Mumbai
Amenities at the Lavish Tower
The building is almost ready however it has not been occupied by any party as of yet. The possession is expected to start this month, as in July. It will become the first building in the city to have a complete glass façade. Every floor of the building is about 4,250 sq. ft. carpet area and has two flats. Among all other facilities, it has eight floors for parking, two swimming pools (on the 8th floor & 40th floor), an observation deck, concierge service, a banquet room, in-house chef, spa, health club and library. Now that’s what we call “living life king size”.
Though the details are not yet fully verified, according to sources familiar with the development of the project, Shrikrishan Jindal, and Ajay Jindal, the promoters of Jindal Drugs (bought the three-floor penthouse with an estimated value Rs 225 crore), the Jain family of Bhilasiya Textiles group (bought three floors for an almost equivalent amount), Deven Doshi, MD of Echjay Industries Ltd (bought one floor), Dinesh Kanabar, CEO of Dhruva Advisors & former CEO of KPMG (bought one floor) are some of the other would-be occupants of the building.
The Altamount Road is often referred to as Billionaires’ Avenue, and rightly so. It is the house a number of high net worth residents of the country, including (apart from Mr. Ambani), Kumar Mangalam Birla, Narotam Sekhseria, and Radhakishan Damani. They will be soon joined by Yes Bank’s managing director Rana Kapoor, who has brought a plot to build a bungalow.