Damani Firm Leases Mumbai Luxury Apartment For ₹27.5 Lakh Monthly

Derive Trading and Resorts Private Limited, a company linked to billionaire investor and DMart founder Radhakishan Damani, has leased a luxury apartment at Mumbai's prestigious Oberoi 360 West development in Worli. The property has been rented to One SGG Ventures LLP, an entity belonging to the Sanjay Ghodawat Group.

According to property registration documents accessed by Zapkey and cited in the report, the apartment has been leased at a monthly rent of ₹27.5 lakh, making it one of the notable high-value residential rental transactions recorded in Mumbai's luxury housing market this year.

Five-Year Lease Agreement Signed

The leave-and-license agreement was executed on May 27, 2026. The lease tenure has been fixed at five years and includes a 5% annual escalation clause.

Based on the agreed rental structure and yearly escalation, the total rental commitment over the lease period is expected to exceed ₹18 crore. The agreement also includes a security deposit of ₹1.65 crore.

Apartment Spans More Than 6,800 Sq Ft

The leased residence is located on a higher floor of the luxury residential tower and measures approximately 6,831 square feet. The agreement also provides the tenant with four car parking spaces.

Oberoi 360 West is among Mumbai's most prominent luxury residential developments and is known for its premium apartments, duplex residences and penthouses overlooking the Arabian Sea.

Tenant Belongs to Sanjay Ghodawat Group

The tenant, One SGG Ventures LLP, is part of the Kolhapur-headquartered Sanjay Ghodawat Group. The diversified business group has interests across sectors including aviation, energy, consumer products, education, retail, real estate and textiles.

The entity was originally incorporated as One SGG Ventures Private Limited before being converted into a limited liability partnership.

Connection to Earlier Oberoi 360 West Acquisition

The report noted that in 2023, Radhakishan Damani, along with family members and close associates, acquired 28 luxury apartments in the Oberoi 360 West project for a total consideration of approximately ₹1,238 crore. The latest lease transaction involves one of the apartments associated with that acquisition.

• Monthly rent fixed at ₹27.5 lakh.
• Lease tenure of five years.
• Annual rent escalation of 5%.
• Security deposit of ₹1.65 crore.
• Apartment size of 6,831 sq ft with four parking spaces.

Luxury Rental Market Remains Active

According to the report, rentals at Oberoi 360 West typically range between ₹25 lakh and ₹30 lakh per month, while apartment values in the project are generally estimated between ₹85 crore and ₹90 crore, depending on floor level, size and views. The latest transaction highlights continued demand for premium residences among business families and corporate entities seeking marquee addresses in Mumbai.

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