Radhakishan Damani’s firm leases luxury apartment in Mumbai’s Worli for ₹28.5 lakh a month, pays ₹1.71 crore deposit
A firm linked to billionaire investor and DMart founder Radhakishan Damani has leased a luxury apartment in Mumbai’s Worli to IVL Dhunseri Petrochem Industries Private Limited. The starting monthly rent is ₹28.5 lakh, according to property registration documents accessed by Zapkey.
The 6,831-square-foot apartment is located on the 19th floor of Tower B of Three Sixty West, a luxury residential project on Dr Annie Besant Road in Worli. The lease was registered on September 28, 2026, for a period of 36 months and includes four car parking spaces.
The tenant has paid a security deposit of ₹1.71 crore, the registration documents show.
Rent to rise to ₹31.42 lakh in third year
The lease agreement provides for an annual increase in the monthly rent.
The starting monthly rent of ₹28.5 lakh will rise to ₹29.925 lakh during the second year and further increase to ₹31.42125 lakh in the third year. The total rental outgo over the three-year lease period is estimated at around ₹10.78 crore.
The transaction attracted a stamp duty of ₹2.83 lakh, while ₹1,000 was paid towards registration fees, according to the documents.
The latest transaction adds to a series of high-value rental agreements involving luxury apartments in Mumbai’s Worli neighbourhood.
Damani-linked firm had leased another Worli apartment
In May 2026, Derive Trading and Resorts Private Limited leased another apartment in Three Sixty West to One SGG Ventures LLP, an entity associated with the Sanjay Ghodawat Group, for ₹27.5 lakh per month.
The transaction was also among Mumbai’s high-value residential rental deals, according to property registration documents accessed by Zapkey.
One SGG Ventures is part of the Kolhapur-based Sanjay Ghodawat Group, which has business interests spanning energy, aviation, consumer products, education, real estate, retail and textiles.
Tenant is a PET resin manufacturer
IVL Dhunseri Petrochem Industries is a joint venture between Dhunseri Ventures and Indorama Ventures Public Company Limited. The company manufactures polyethylene terephthalate (PET) resin, according to Zapkey.
The latest apartment has been leased from Derive Trading and Resorts Private Limited. Transaction records cited by Zapkey identify the company as an investment entity linked to the family office of Radhakishan Damani.
Damani family bought 28 apartments in Three Sixty West
Damani and members of his immediate family, along with close associates, acquired 28 luxury apartments in Oberoi Realty’s Three Sixty West project in 2023 for a combined consideration of ₹1,238 crore.
The apartments together have a total carpet area of 1,82,084 square feet and include 101 car parking spaces.
The large-scale acquisition had emerged as one of the marquee luxury residential property transactions in Mumbai, underscoring the significant demand for high-end homes in projects such as Three Sixty West.
