N Chandrasekaran, Chairman of the Tata Group, has bought a duplex in Mumbai's affluent Peddar Road neighbourhood for Rs 98 crore.
Digital Desk: N Chandrasekaran, Chairman of the Tata Group, has bought a duplex in Mumbai's affluent Peddar Road neighbourhood for Rs 98 crore. Chandrasekaran and his family have been renting the duplex residence for five years.
The apartment is in the 33 South luxury high-rise on Peddar Road in Mumbai. According to the source, it covers the 11th and 12th floors of the 28-story tower and has a carpeted surface of roughly 6,000 square feet.
Chandrasekaran, his wife Lalitha, and their son Pranav recently registered the flat where the Tata Sons chairman and his family resided on a five-year lease.
Jivesh Developers Pvt Ltd, a business managed by Samir Bhojwani, is said to have sold it to them.
"The Chandras have been living here for several years on a Rs 20 lakh monthly leasing charge." According to individuals acquainted with the arrangement, after taking over as chairman of Tata Sons on February 21, 2017, Chandrasekaran moved into 33 South Condominium.
After Tata Sons reappointed him as chairman for another five years in February, N Chandrasekaran allegedly opted to acquire the duplex in a 98-crore deal.
He joined Tata Sons Board of Directors in October 2016 and was elected Chairman in January 2017.
On February 11, 2018, Tata Sons' board unanimously approved a five-year extension of his term.
Chandrasekaran was one of India's highest-paid corporate executives, earning Rs 91 crore annually.
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