Shaila Merchant buys a luxurious sea-facing apartment in Mumbai for ₹20.76 crore. The Prestige Ocean Tower home comes with modern amenities and Arabian Sea views.
Luxury Purchase by Shaila Merchant
Shaila Merchant, mother-in-law of Anant Ambani and a prominent figure in the Merchant family, recently purchased a luxurious sea-facing apartment in South Mumbai. The premium property, located in the upscale Prestige Ocean Tower, was bought for a staggering ₹20.76 crore, according to a report from Hindustan Times. The deal, which was registered on October 14, 2024, also includes four car parking spaces.
This purchase follows the high-profile wedding of Anant Ambani and Radhika Merchant earlier this year, which brought together two of India’s most affluent families – the Ambanis and the Merchants. The acquisition further strengthens the real estate portfolio of the Merchant family, who are already prominent figures in the business and real estate sectors.
Details of the Property
The luxurious apartment spans an impressive 2,482 square feet and includes an additional 83-square-foot balcony that offers spectacular, unobstructed views of the Arabian Sea. The property is part of the prestigious Prestige Ocean Tower, one of Mumbai’s most sought-after addresses. In addition to its panoramic sea views, the residence is located within a development that boasts a wide range of modern amenities.
Residents of Prestige Ocean Tower enjoy access to a well-equipped gym, yoga areas, a tropical-themed garden, an infinity pool, a dedicated pet park, and exclusive facilities such as a spa and salon. There is even a private theatre for entertainment, ensuring that every lifestyle need is met within the complex. With these luxurious features, the property exemplifies a blend of comfort, modernity, and high-end living, making it a prime choice for individuals seeking a premium lifestyle in Mumbai.
To complete the transaction, Shaila Merchant paid a stamp duty of ₹1.03 crore and a registration fee of ₹30,000, reflecting the high-value nature of the purchase.
Shaila Merchant’s Business Ventures and Wealth
Shaila Merchant’s business acumen is well recognized, and this real estate acquisition further cements her presence in the world of elite investments. She plays a significant role in the Merchant family’s business activities, particularly alongside her husband, Viren Merchant, who is the CEO of Encore Healthcare. Under his leadership, Encore Healthcare has become a major player in the pharmaceutical industry. As reported by The Times of India, Viren Merchant’s net worth is estimated at around ₹750 crore, underscoring the family’s considerable financial influence.
In addition to her role in Encore Healthcare, Shaila Merchant holds positions on the boards of several other companies, including Atharva Impex Private Limited and Swastik Exim Private Limited. According to The Financial Express, her personal net worth is estimated to be over ₹10 crore. This latest property acquisition adds another valuable asset to the Merchant family’s growing portfolio.
The Ambani-Merchant Union
Anant Ambani and Radhika Merchant’s wedding earlier this year was a grand affair, symbolizing the union of two of India’s wealthiest and most powerful families. The couple tied the knot on July 12, 2024, at the Jio World Centre in Mumbai, after months of pre-wedding celebrations held in various parts of India and abroad. According to The Times of India, the Ambani family spared no expense, with reports estimating that the wedding cost around ₹5,000 crore, making it one of the most extravagant weddings in India.
To celebrate their son’s marriage, Mukesh and Nita Ambani gifted the newlyweds a sprawling villa in Dubai, valued at approximately ₹640 crore, as reported by The Financial Express. This opulent gift added to the already luxurious lifestyle enjoyed by the couple, marking a new chapter in their lives.
The Ambani and Merchant families continue to dominate headlines not only for their business ventures but also for their personal milestones, luxurious acquisitions, and high-profile lifestyles.
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