2 days ago
Damani-Linked Firm Leases Worli Apartment for ₹28.5 Lakh Monthly
A company linked to investor Radhakishan Damani rented out a large apartment in Mumbai.
The apartment is in a luxury building in the Worli neighbourhood.
IVL Dhunseri Petrochem Industries will pay ₹28.5 lakh each month at first.
The rent will go up in each of the next two years.
The company also paid ₹1.71 crore as a security deposit.
The agreement lasts for three years and includes four parking spaces.
The total rent over the lease is expected to be about ₹10.78 crore.
The articles say Damani’s family and associates bought 28 apartments in the same project in 2023.
Derive Trading and Resorts leased a 6,831-square-foot Three Sixty West apartment in Worli to IVL Dhunseri Petrochem Industries.
The 36-month lease was registered on September 28, 2026, with a starting rent of ₹28.5 lakh per month.
The tenant paid a ₹1.71 crore security deposit, and the apartment comes with four parking spaces.
Monthly rent is set to rise to ₹29.925 lakh in year two and ₹31.42125 lakh in year three; total rent is estimated at about ₹10.78 crore.
Derive Trading is identified in transaction records as an investment entity linked to Radhakishan Damani’s family office.
- Who
- Derive Trading and Resorts Private Limited leased the apartment to IVL Dhunseri Petrochem Industries Private Limited; records link Derive Trading to Radhakishan Damani’s family office.
- What
- A 6,831-square-foot luxury apartment was leased for an initial monthly rent of ₹28.5 lakh, with a ₹1.71 crore security deposit.
- Where
- Tower B of Three Sixty West on Dr Annie Besant Road in Worli, Mumbai.
- When
- The lease was registered on September 28, 2026, for 36 months.
- Why
- The articles do not state a specific reason for the lease.
Key facts
- Starting monthly rent
- ₹28.5 lakh
- Lease term
- 36 months
- Security deposit
- ₹1.71 crore
- Apartment area
- 6,831 square feet
- Parking
- Four car parking spaces
- Estimated rent over lease
- Around ₹10.78 crore
- Registration charges
- ₹2.83 lakh stamp duty and ₹1,000 registration fee
Sources
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