Mumbai News: Parle Products' Promoter Ambika Aibara Buys Sea-View Units For ₹47.3 Crore In Mahalaxmi

Mumbai: Ambika Chauhan Aibara, member of the Parle Products' promoter family, has acquired two sea-view luxury apartments in south Mumbai's Mahalaxmi area for a total of ₹47.3 crore.

Sprawling 6,180 sq ft, the units are located on the 24th and 25th floors of the swanky Raheja Modern Vivarea Towers and come with exclusive access to six parking slots.

The two apartments

Priced at ₹23.65 crore each, both the apartments were purchased from K Raheja Corp’s residential development arm. The total stamp duty paid for the transactions amounted to ₹2.84 crore. Aibara, who serves as executive director of Parle Products, is reported to have finalised the deal in December last year, while officially registering it on the 21st of the same month.

Recently, the Halan family is reported to have acquired eight sea-view apartments in the same tower for nearly ₹104 crore. Similarly, promoters of Creative Group of Industries also had purchased eight sea-view units for almost ₹155 crore.

Raheja Modern Vivarea Towers

As the name suggests, Raheja Modern Vivarea project is part of a joint development pact with Modern India. The under-construction property covers 1 million sq ft across a three acres land parcel. Helmed by K Raheja Corp Homes, the plan involves the monetisation of land previously occupied by a private textile mill.

Raheja Vivarea is the developer's other premium residential project spanning 14 acres. It is known as a hub for corporate executives. According to a report, the last registered transaction in Raheja Vivarea, in October 2023, was priced at ₹90,000 per sq ft. Recently, Rahul Bajaj’s family also invested nearly ₹104 crore to acquire five sea-view apartments in Raheja Vivarea.