Damani’s Rs 1,001 crore home buy adds sizzle to Mumbai realty market
Damani’s Rs 1,001 crore home buy adds sizzle to Mumbai realty market
The big-ticket purchase is part of a trend where the super rich are ready to fork out eye-popping sums for independent mansions, a scarce commodity in the city.
05 April 2021
Dark Mode
You can always update your display preferences in Settings menu

Mahatma Gandhi’s idea that the wealthy must act as trustees of their wealth for the larger good of the people and avoid ostentatious displays of it seems to have finally received a burial. India’s ever growing population of billionaires seem to have cast off their socialist baggage. Once and for all.

If Mukesh Ambani set off the trend of splurging out on a home with his estimated $1 billion skyscraper (land and building costs taken together) in 2012, Radhakishan Damani, the reclusive stockbroker-turned-business magnate who owns the DMart chain of retail stores, took it to a whole other level with his Rs 1,001 crore acquisition of an over a century old bungalow in South Mumbai recently.  

Damani’s March-end acquisition of Madhu Kunj, a two-storeyed bungalow measuring 61,916.3 sq. feet in South Mumbai’s Malabar Hill area, is the most expensive residential deal ever in the country if one goes by what he paid for the built-up area. If that wasn’t enough,

What our readers say
Why subscribers love The Morning Context
Research ideas don't come from a vacuum. The best ideas come from a spark, a contrarian take, an uncommon investigative insight, and one doesn't always get these from traditional media. TMC consistently makes me think about things in different ways, and I've frequently shared TMC articles with collaborators and students. Staying at the cutting edge is hard enough; TMC makes it much easier.
Rohit Chandra, Assistant Professor - School of Public Policy (IIT Delhi)
High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.
Abhay Pandey, Managing partner, A91 Capital
Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.
Anupam Gupta, Investment research consultant
In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.
Jessie Paul, CEO, Paul Writer
The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.
Miten Sampat, Angel investor & former CSO, Times Internet
In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.
N S Parthasarthy, Co-founder, Mindtree
In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.
Nikhil Taneja, Co-founder and CEO, Yuvaa
Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.
Shiladitya Bora, Producer, distributor and founder at Platoon One Films
As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.
Amarjit Batra, Managing director, Spotify India
Sign up for free
Sign up now and get access to our starter collection for free.
SIGN UP