Pune Business Family's Luxury Mansion Purchase in Mumbai Sets Tongues Wagging
Pune-based industrialist Yohan Poonawalla and his wife Michelle's property acquisition in south Mumbai's exclusive Cuffe Parade area has set the real estate market abuzz.
Pune Business FamilyMumbai Real EstateLuxury MansionCuffe ParadeYohan PoonawallaReal Estate PuneAug 09, 2024
The spokesperson for the couple revealed that the purchased property is a standalone mansion spanning approximately 30,000 sq ft, located in one of the most coveted areas of Mumbai. Although the spokesperson refused to disclose the name of the mansion, sources in the property market speculate that it could be the historic Taraporewala Mansion, where renowned writer Mulk Raj Anand once lived.
The Taraporewala Mansion, a ground plus three-storey property, has been on sale for several years, with a speculated price range of Rs 100 crore to Rs 150 crore. However, the actual purchase price remains undisclosed.
The Poonawallas plan to transform the mansion into their secondary residence, with the help of Michelle's design studio, MYP Design Studio. The project aims to blend historic grandeur with contemporary luxury, showcasing Michelle's art collection, including works by renowned artists and her own creations. The mansion will also house Yohan Poonawalla's impressive automobile collection.
This purchase is not the first high-profile property acquisition by the Poonawalla family. In 2015, Yohan's cousin, Adar Poonawalla, successfully bid for the sprawling US consulate property at Breach Candy for Rs 750 crore. However, Adar has been unable to move into the property due to the Indian government's refusal to grant permission for the sale.
Information
Yohan Poonawalla is a Pune-based industrialist, and his wife Michelle is an artist and designer. The couple is known for their philanthropic efforts and their love for art and luxury. The Poonawalla family is prominent in Pune, with business interests in various sectors.
The Poonawalla family is a prominent business family in Pune, with a long history of entrepreneurship and philanthropy. The family's business interests include pharmaceuticals, automobiles, and real estate, among others.
Frequently Asked Questions
Who is Yohan Poonawalla?
Yohan Poonawalla is a Pune-based industrialist and businessman.
What is the location of the purchased mansion?
The mansion is located in the exclusive Cuffe Parade area of south Mumbai.
What is the speculated price range of the mansion?
The speculated price range of the mansion is between Rs 100 crore to Rs 150 crore.
What is the name of the design studio that will transform the mansion?
The design studio is called MYP Design Studio, led by Michelle Poonawalla.
What is the significance of the Taraporewala Mansion?
The Taraporewala Mansion is a historic property where renowned writer Mulk Raj Anand once lived.
Related News Articles
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain