Sonam Kapoor and Anand Ahuja Acquire Iconic Mumbai Property for Rs 4780 Lakhs
Sonam Kapoor and Anand Ahuja have made a significant real estate investment by purchasing a 3,600-square-foot property in Mumbai for Rs 4780 lakhs. This iconic property, Rhythm House, is located in the culturally rich Kala Ghoda neighborhood.
Sonam KapoorAnand AhujaMumbai PropertyReal EstateRhythm HouseReal Estate MumbaiOct 23, 2024
The couple has now added an iconic Mumbai property to their ever-expanding real estate portfolio. Sonam Kapoor and Anand Ahuja’s Bhaane Group has acquired the famous music store, Rhythm House, for roughly $5.7 million (about Rs 4780 lakhs), according to the Indian Express. Bhaane, which manufactures clothes, is a division of Shahi Exports Pvt, which is owned by Anand’s father, Harish Ahuja. Shahi Exports is one of India's leading garment manufacturers, supplying products to global brands like H&M and Decathlon.
The 3,600-square-foot Rhythm House, which is spread across a ground and mezzanine floor, was closed in 2018 after Firestar Diamond International Pvt's owner, Nirav Modi, failed to repay billions in bank loans. Modi had purchased Rhythm House in 2017 from its previous owners, the Curmally family, for Rs 32 crore through his company, Firestar Diamond, with plans to convert it into a luxury jewellery showroom. However, the property faced financial troubles and eventually closed down.
Rhythm House, founded in 1948 by Suleman Nensey, is located in the Kala Ghoda neighborhood of Mumbai, which is known for its numerous heritage properties. The store specialized in selling musical instruments and imported 78 rpm records. Over the years, it adapted to changes in the music industry, providing musical enthusiasts with jukeboxes, vinyl records, and cassettes, eventually moving on to CDs and DVDs. However, as music shifted to online platforms, footfalls and sales at Rhythm House declined, leading to its closure in 2016.
The acquisition of Rhythm House by Sonam Kapoor and Anand Ahuja’s Bhaane Group is a significant move in the real estate market. It not only adds to their already impressive portfolio but also preserves a cultural landmark in Mumbai. The future plans for the property are yet to be disclosed, but it is expected to be a valuable addition to the city’s heritage and business landscape.
Frequently Asked Questions
What is the net worth of Sonam Kapoor and Anand Ahuja?
According to public data, Sonam Kapoor has an estimated net worth of Rs 115 crore, while her husband, Anand Ahuja, boasts a fortune of Rs 4,000 crore.
Where is the new property located?
The new property, Rhythm House, is located in the Kala Ghoda neighborhood of Mumbai, a culturally rich area known for its heritage properties.
How much did Sonam Kapoor and Anand Ahuja pay for Rhythm House?
Sonam Kapoor and Anand Ahuja’s Bhaane Group acquired Rhythm House for roughly $5.7 million, which is approximately Rs 4780 lakhs.
Who is the previous owner of Rhythm House?
Rhythm House was previously owned by the Curmally family, who sold it to Nirav Modi in 2017 through his company, Firestar Diamond, for Rs 32 crore.
What is the history of Rhythm House?
Rhythm House was founded in 1948 by Suleman Nensey. It specialized in selling musical instruments and records, and over the years, it adapted to changes in the music industry, eventually closing down in 2016 due to the shift to online music platforms.
Related News Articles
Indian Realty Giants Unload Properties Worth Rs 1.17 Lakh Crore in FY24
Leading real estate companies in India, such as Macrotech Developers and Signature Global, have sold properties worth a staggering Rs 1.17 lakh crore in FY24.
Soaring Demand Drives Up Property Prices in Delhi-NCR and MMR
Average housing prices in Delhi-NCR and Mumbai Metropolitan Region (MMR) have risen by nearly 50% in the last five years, driven by higher demand and infrastructural developments.
Aditya Birla Real Estate: Pune Launch on the Cards, Expanding in Thane and Sarjapur
In a recent post-earnings call, the management of Aditya Birla Real Estate Ltd, formerly known as Century Textiles and Industries Ltd, announced the upcoming launch of a new project in Pune, along with plans to expand in Thane and Sarjapur.
ACRES 2025 Showcases Over 400 Property Projects in Egypt Pavilion
Organised by the Sharjah Chamber of Commerce and Industry (SCCI) in collaboration with the Sharjah Real Estate Registration Department (SRERD), the ACRES 2025 event is set to feature an extensive array of property projects from Egypt, highlighting the cou
The 23-Year Journey: How a UP Man Purchased Dawood Ibrahim’s Mumbai Shop
Hemant Jain took a significant risk in 2001 by purchasing a Mumbai shop linked to Dawood Ibrahim. Despite numerous bureaucratic obstacles, he finally managed to register the property after a grueling 23-year battle.
What Are the Top 20 Expectations for the Budget 2025-26?
As the Union Budget 2025-26 approaches, scheduled to be presented by Finance Minister Nirmala Sitharaman on February 1 (Saturday), the real estate industry and other sectors are bracing for significant changes and potential boosts. Here’s a detailed look