Mega real estate deal: Rekha Jhunjhunwala-backed firm purchases office space worth Rs 600 cr in Mumbai's BKC

Kinnteisto LLP, the firm run by Rekha Jhunjhunwala, wife of late ace investor Rakesh Jhunjhunwala, purchased office spaces in Mumbai's Bandra Kurla Complex (BKC) at a cost of a whopping Rs 600 crore, said a report on Wednesday. 

Jhunjhunwala's firm bought 1.26 lakh sq ft of area across four floors in the building named The Capital, which will give access to 124 parking slots, reported Moneycontrol citing documents accessed by Propstack, a real-estate data platform. The seller is Wadhwa Group Holdings Pvt Ltd. BKC is India's costliest commercial district.

Rekha Jhunjhunwala, also the director of Rare Enterprises Pvt Ltd, told Moneycontrol that the commercial spaces have been bought for the family with a long-term perspective.

"These assets generate good yields, are leased to marquee tenants. And being well located, are quite secure in nature," she said.

Rakesh Jhunjhunwala died on August 14, 2022 at the age of 62 and he was worth $5 billion at the time, and is also survived by two sons and a daughter. 

In a separate deal, Kinnteisto LLP also bought office space of 68,195 sq ft carpet area in Andheri East's Chandivali area for Rs 138 crore, the report said. The office space at the Boomerang building was bought from Kanakia Spaces Realty Pvt Ltd, which gives access to 110 car parking slots. 

Mumbai-based Kinnteisto, incorporated in May 2023 with the Ministry of Corporate Affairs, has two designated partners— Rekha Jhunjhunwala and Rajeev Gupta.