Kumar Mangalam Birla buys Rs 425 cr bungalow

Kumar Mangalam Birla, Chairman of the Aditya Birla Group has bought the iconic Jatia House in the plush Malabar Hill area for Rs 425 crore.

According to media reports, Birla has bought a sea-facing Jatia House at Little Gibbs road, Malabar hill in Mumbai, for his personal use. The sprawling bungalow is spread across 31,495 sq ft and 25,000 sq ft built-up area. The posh bungalow was sold on Monday.

Present owners of the bungalow, the Jatias of the MP Jatia Group of companies, appointed international property consultant JLL to carry out the deal.

The bungalow has large open spaces and a large parking area.

Birla has reportedly paid 10 per cent of the amount and the remaining amount will be paid soon.