MUMBAI: A cryptic announcement by Pune-based industrialist Yohan Poonawalla and his wife Michelle about a property acquisition in south Mumbai has set tongues wagging in the city’s real estate market. A spokesperson representing the couple said they purchased a mansion in the most coveted and exclusive area of Cuffe Parade in south Mumbai. The standalone property, spanning approximately 30,000 square feet, joins a prestigious collection of mansions in the area that are typically priced between Rs 400 crore and Rs 750 crore.
Despite persistent queries from TOI, the spokesperson refused to divulge the name of the mansion the Poonawallas bought. However, sources in the property market speculated that it could be the early 20th century heritage property Taraporewala Mansion where the writer Mulk Raj Anand once lived. Sources said the ground-plus-three-storey property was on sale for several years but added its price could be in the range of Rs 100 crore to Rs 150 crore only.
“MYP Design Studio, under Michelle Poonawalla’s creative helm, will orchestrate the transformation of this architectural gem into the opulent Poonawalla Mansion , the couple’s secondary residence, their primary home being Poonawalla House in Pune. This project marks a new chapter in the couple’s illustrious journey, promising a harmonious blend of historic grandeur and contemporary luxury,” said a press release. The couple plans to showcase Michelle’s art collection from renowned artists as well.