Siddhartha Sacheti Acquires Rs 160 Crore Luxury Duplex in Mumbai's Worli
Siddhartha Sacheti, CEO of Jaipur Gems, has purchased a sea-facing luxury duplex in Mumbai's Worli for Rs 160 crore, making it one of the most expensive property deals in the city.
Luxury PropertyHighnetworthMumbai Real EstateStamp DutyDuplexReal Estate MumbaiOct 18, 2025
The deal involves the purchase of two duplex units located on the 51st and 52nd floors of the tower, with a combined carpet area of 12,260 square feet. Each unit is priced at Rs 80 crore, reflecting a valuation of around Rs 1.3 lakh per square foot. This transaction not only highlights the premium value of luxury real estate in Mumbai but also underscores the city's status as a hub for high-net-worth individuals.
Siddhartha Sacheti is the brother of Mithun Sacheti, the founder of online jewellery retailer CaratLane. In 2023, Mithun Sacheti and his family received Rs 4,621 crore from the sale of their stake in CaratLane to Titan Company, a Tata Group firm. This significant financial windfall likely contributed to the family's ability to invest in high-end real estate.
The purchased apartments come with a total of 10 car parking spaces, adding to the overall value and convenience of the property. According to documents accessed through Zapkey.com, the buyer has paid over Rs 5.61 crore in stamp duty charges alone for the registration of the deal. This substantial payment is a testament to the high value and regulatory compliance associated with such premium property transactions.
It is worth noting that as these apartments were transacted within three years of their earlier registration, which attracted stamp duty of over Rs 4.78 crore, the new buyer is required to pay the differential stamp duty charges. According to government regulations, if an apartment is sold within three years of its previous registration, the buyer must pay the differential stamp duty to align with current property valuation and prevent revenue loss for the state government exchequer.
This rule ensures that stamp duty payments reflect the current market value of the property and helps maintain the integrity of the real estate market. Despite the additional financial burden, the purchase of such a high-value property in a prime location is a significant achievement and reflects the buyer's confidence in the long-term value of the investment.
Sacheti, when contacted, was not immediately available for comment. However, the acquisition of this luxury duplex in Worli is likely to be a topic of discussion in the real estate and business circles, given the high profile of both the buyer and the property itself.
In conclusion, Siddhartha Sacheti's acquisition of the Rs 160 crore sea-facing duplex in Mumbai's Worli not only showcases the luxurious lifestyle of high-net-worth individuals but also highlights the robustness and high value of the real estate market in one of India's most prestigious cities.
Frequently Asked Questions
Who is Siddhartha Sacheti?
Siddhartha Sacheti is the Creative Director and CEO of Jaipur Gems, a renowned jewelry company. He is also the brother of Mithun Sacheti, the founder of online jewelry retailer CaratLane.
What is the cost of the luxury duplex in Worli?
The cost of the luxury duplex in Worli is Rs 160 crore, with each of the two duplex units priced at Rs 80 crore.
What is the significance of the stamp duty in this transaction?
The buyer has paid over Rs 5.61 crore in stamp duty charges, reflecting the high value of the property and the regulatory compliance required for such transactions.
What are the additional features of the property?
The property includes a total of 10 car parking spaces, enhancing its value and convenience for the buyer.
Why is there a differential stamp duty charge?
The differential stamp duty charge is required because the property was sold within three years of its previous registration. This ensures that the stamp duty paid aligns with the current market value of the property.
Related News Articles
Large Cap Mutual Funds: Understanding Performance and Strategy
Large-cap mutual funds are considered more secure, but Mirae Asset Large Cap has underperformed due to its disciplined investment strategy, focusing on strong growth sectors like infrastructure and real estate.
Market Rally Analysis: Manish Chokhani's Insights on India's Growth Potential
Manish Chokhani, Director of Enam Securities, shares his views on the current market rally and potential red flags at the India Today Conclave 2024.
MahaRERA Orders Tata Housing to Refund Buyer After Deducting 2% of Total Cost
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has directed Tata Housing Development Company Ltd to refund the money paid by a homebuyer after deducting 2% of the total consideration. This decision comes after the builder failed to execute th
Understanding Property Registration and Charges in Mumbai
In Mumbai, the real estate market has seen significant growth, particularly during the festive season. The city's property registration process and associated charges, including stamp duty, play a crucial role in this trend. This guide provides a detailed
551 Candidates File Nominations for 21 Assembly Seats in Pune District
A total of 551 candidates have submitted their nominations for the 21 Assembly seats in Pune district. The highest number of candidates is from the Pimpri constituency, with 39 nominations, while the Junnar constituency has the lowest with 17 nominations.
AP CM N Chandrababu Naidu Pledges Full Support to Real Estate Sector
Andhra Pradesh Chief Minister N Chandrababu Naidu has assured full support to the real estate sector, predicting significant growth in the coming years. He emphasized the importance of proper permissions and sustainable development.