Billionaire industrialist Yohan Poonawalla and his wife Michelle have purchased a 30,000 sq ft standalone property in South Mumbai's Cuffe Parade area for over Rs 500 crore, as per an ET report. This sprawling mansion, one of the most expensive residential deals in recent times, will be transformed into their secondary home and called the 'Poonawalla Mansion'.
Yohan Poonawalla, chairman of Poonawalla Engineering Group and director of Poonawalla Stud Farms and Poonawalla Racing and Breeding, comes from a prominent business family. His father, Zavaray Poonawalla, co-founded the Serum Institute of India, a leading vaccine manufacturer. The Poonawallas are also renowned for owning one of Asia's largest stud farms.
Michelle Poonawalla, Managing Director of the Poonawalla Engineering Companies, is a businesswoman. Her design firm, MYP Design Studio, will lead the transformation of the newly acquired property into the 'Poonawalla Mansion'.
The mansion's spacious layout, featuring expansive terraces and multiple floors, offers a significant level of privacy and exclusivity. This luxurious setting provides the perfect backdrop for the couple's extensive art collection. A part of the residence will be transformed into a private art gallery, showcasing Michelle Poonawalla's unique oil paintings and other prized pieces. A curated selection of Yohan Poonawalla's automobile collection will also be displayed within the mansion.
South Mumbai has recently witnessed a surge in celebrity property acquisitions. Cricketers Virat Kohli, Rohit Sharma, and Yuvraj Singh have all made significant purchases in the area. Virat Kohli bought a luxury apartment in Worli's 'Omkar 1973' project for Rs 34 crore, while Rohit Sharma acquired a Rs 30 crore property at Ahuja Towers, also in Worli. Yuvraj Singh bought a Rs 64 crore property in the same neighbourhood.
Film producer and director Dinesh Vijan has also joined the list of celebrity property owners in South Mumbai, purchasing a 9,000 sq ft residential property. Other deals include Suhana Khan's purchase of 1.5 acres of agricultural land in Alibag for Rs 12.91 crore and Alia Bhatt's production house buying a 2,497 sq ft apartment in Bandra for Rs 37.80 crore.
