Jaipur Gems CEO Acquires Two Luxurious Flats for ₹160 Crore in Mumbai's Elite Worli
Bengaluru: Siddhartha Sacheti, the creative director and chief executive of Jaipur Gems, has made a substantial investment in Mumbai's luxury real estate market. He has purchased two apartments in Three Sixty West, an ultra-luxury property located in the sought-after Worli neighborhood.
The two apartments, situated on the 51st and 52nd floors, each measure 6,130 square feet and cost ₹80 crore each. Together, they come with 10 car parks. Both deals were registered on October 16, according to documents accessed by real estate data platform Zapkey. It is expected that the two apartments will be combined to form a luxurious duplex.
Real estate developer Oberoi Realty Ltd's Three Sixty West on Annie Besant Road has been a hub of high-profile transactions over the past three years. The project has attracted business leaders, entrepreneurs, and several high-profile individuals.
‘Trophy address’ “Three Sixty West has become the definitive trophy address for India's richest, given the convergence of prime location, expansive sea views, and five-star services, which are incredibly scarce. The high concentration of deals here creates a powerful network effect—it’s become a vertical billionaire’s enclave and perfectly captures the current market appetite in the luxury housing market,” said Sandeep Reddy, co-founder of Zapkey.
Earlier this year, the Zydus Family Trust, a shareholder in Zydus Lifesciences, bought a 17,384-square-foot apartment at the project for ₹200 crore. Mint could not immediately reach out to Siddharth Sacheti for comment. His brother Mithun Sacheti, founder of CaratLane, declined to comment on the deal. In 2023, Mithun Sacheti sold his 27% stake in CaratLane to Titan for over ₹4,621 crore.
The Sacheti brothers come from a family of jewellers. Their father, Padam Sacheti, moved to Mumbai in 1974 to establish what is now an upmarket jewellery store, Jaipur Gems. His sons later joined the family business.
Luxury home sales have seen sustained momentum across the country, with Mumbai, the most expensive property market, and Gurugram, leading the way in terms of transactions.
