Dream11 co-founder’s wife buys apartment worth Rs 72 crore: Report
22nd December 2021
Rachana Jain, the wife of fantasy sports platform Dream11 co-founder Harsh Jain, has purchased a luxury duplex apartment in a project 33 South on South Mumbai’s Peddar Road for Rs 72 crore at nearly Rs 1 lakh per sq. ft, reported the Economic Times. The seller is Jivesh Developers & Properties, a company owned by real estate developer Sameer Bhojwani and is a joint development between JSW and Bhojwani.
The purchaser has paid stamp duty worth Rs 2.88 crore for two transactions registered on Monday as per real estate intelligence portal Zapkey. This property is a single amalgamated duplex on the 29th and 30th floors and the apartments in the north and south wing of the tower have been registered separately. These apartments have been amalgamated with permission from the Municipal Corporation of Greater Mumbai.
As per reports, the buyer will get around 7.14% ownership interest in the plot on which the project is built and will also get exclusive access to seven car parking slots. Mumbai’s civic body has recently sanctioned a plan for additions and alterations of apartments in existing buildings by availing additional Floor Space Index (FSI) or Transfer of Development Rights (TDRs) and additional fungible FSI as per the Development Control and Promotion Regulations (DPCR) 2034.
The project has witnessed several record-setting transactions in the last few months. In December, the Motilal Oswal family trust bought two duplex apartments spread over 6,800 sq ft on the 13th and 17th floors of the same high-rise building for Rs 101 crore. In March, Enam Asset Management Company’s cofounder, Jiten Doshi, bought two luxury duplex apartments in this project for Rs 61 crore, or Rs 1.67 lakh per sq ft, making it one of the costliest residential property deals in the country.
Meanwhile, Dream Sports, the parent firm of fantasy sports platform Dream11, recently completed an investment of $840 million at a valuation of $8 billion. The round was led by Falcon Edge, DST Global, D1 Capital, Redbird Capital, and Tiger Global. As per reports, Dream11 is looking to launch a rummy vertical. Harsh Jain has recently set up an investment fund to back early and mid-stage startups.