Marking a landmark moment in Indian real estate history, Billionaire and DMart founder Radhakishan Damani purchased a home in Mumbai’s Malabar Hill worth Rs 1,001 crore.

Damani purchased the extravagant house along with his brother Gopikishan Damani, reports state.

According to the document filed with the Department of Registration & Stamps, Government of Maharashtra, Damani paid Rs 30 crore in stamp duty for the 5,752 square meter property registered on March 31, 2021.

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Damani has purchased the Rs 1000 crore property from Saurabh Mehta, Varsha Mehta, and Jayesh Shah.

The property, Madhukunj, is a two-storey bungalow measuring 61,916.3 square feet. It is located in South Mumbai’s Malabar Hill area at Narayan Dabholkar Road. The market price of the property is Rs 724 crore, according to the documents.

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Radhakishan Damani was the eighth richest Indian with a net worth of $14.5 billion, according to the Hurun India Rich List 2021.

There are 209 billionaires in India, with 177 of them living in the country and Mukesh Ambani of Reliance Industries is the richest Indian, with a net worth of $85 billion.

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