Radhakishan Damani Residence: A Glimpse into the Life of a Retail Mogul

Introduction | Early Life and Education of “The Retail King”

Radhakishan Damani is an Indian Billionaire, a great businessman, and a smart investor. If you live in Mumbai you must be familiar with DMart, a retail outlet that has everything from everyday household items, and food, to electronics and clothes. Radhakishan is known as ‘the retail King’ of India. After an unexpected surge during COVID-19 in the Share prices of DMart, Damani became one of the richest men in India. Currently, he has claimed the throne of the fifth richest man nationwide.

Damani has made some outstanding investments, and his foresight to pick out deals that will be profitable in the future has brought him to a height no one would have imagined. Radhakishan Damani has a diverse portfolio, due to his long-time investment approach and the fact that he invests in fundamentally strong companies. He owns various luxurious residences and has significant real estate holdings.

Background

Radhakishan Damani was born in Mumbai in the year 1955 and was raised in a modest single-room apartment in Mumbai. He attended the University of Mumbai to study commerce but quit after a year. After his father’s death, he left his ball-bearing business and became an investor and a broker in the stock market. He made great profit during the Harshad Mehta time when he was artificially increasing the stock market price, Damani short-sold the stocks and gained impressive profits.

Damani wanted to start his own hypermarket chain, so he quit working as a broker in the year 2000 and established his first store in Powai in 2002. His store began to grow and by 2010 there were 25 stores, after which “Dmart” became popular and went public in 2017. Now there are over 320 stores all over India, all from a single store in Mumbai.

By 2020 Damani was ranked the fourth-richest Indian with a net worth of $16.5 billion. And in October 2024, Radhakishan Damani along with his family was ranked sixth in Forbes as India’s 100 richest tycoons, with a net worth of $31.5 billion.

Damani is a visionary thinker who transformed into a retail innovator from a stock market expert.

As of now, Damani’s net worth is estimated to be around Rs.165,437.7 crore, which makes him India’s most influential and wealthiest entrepreneur.

Radhakishan is a disciplined man who knows the value of investment, and strategic thinking. And it is also reflected in the profitable real estate investments he has made in his life.

Location of the Residence

City and Neighborhood

Radhakishan Damani lives in Mumbai, which is the largest city and the financial center of India. Because of being a port city, it has always been a trading center and a resting place for all the merchants who came to its shore. While Mumbai as a whole is a beautiful city, Damani’s house in the upscale neighborhood of Malabar Hills boasts luxury. Several prominent celebrities, business tycoons, and politicians reside in this prestigious neighborhood. The area is full of greenery, has a serene environment, and also is in close proximity to essential amenities. Damani, who is a man of discipline and routine, made a profitable investment in his house in Malabar Hills.

The area is well-connected to different parts of the city and features excellent infrastructure, with schools, hospitals, and malls located nearby. Whereas Parks and gardens add charm to Malabar Hills, making it a serene haven away from the bustling life of Mumbai city. Malabar Hills is a perfect place for someone who loves a peaceful life while not being too far away from the facilities of the city.

About the house In Malabar Hills| Radhakishan’s Recent investment

Radhakishan Damani bought his house in Mumbai in 2021 and since then the house has been a talk of Indian financial space, as it is one of the most expensive deals ever made in the real estate industry. The house is over 100 years old, spread over an area of 1.5 acres, and has a built-up area of over 60,000 square feet. Previously the property was co-owned by Varsha Mehta, Saurabh Mehta, and Jsayesh Shah, business partners and trustees at Premchand Roychand and Sons LLC partner Phoenix Family Trust.

The beautiful house is located in south Mumbai in one of the poshest areas, the Malabar Hill area on the Narayan Dabholkar Road. While this house is a luxury in itself, Radhakishan is currently residing at his house on Altamount Road in south Mumbai.

The housewaspriced at rs 1001 crore while the market value of the house was 724 crore, with a stamp duty of rs 30.03 crore, purchased by Damani and his brother. Business tycoons like Ratan Tata and Mukesh Ambani also have their residences in the area, which earned the area the name “VIP neighborhood”.

The bungalow is a two-story building built in the Art Deco style, which originated in France in the 1920s and features simple and clean shapes, with a streamlined look and geometric patterns, an open terrace, and a large compound. However, it is undecided if the house will be renovated in modern style or remain in its original form.

House in Thane

Radhakishan Damani is an investor through and through. He has not just dipped his hand in the stock market, but also in Real estate. Apart from His apartments in Worli and a house On Malabar Hills, and Altamount Road Damani has also bought a house in the Thane region of Mumbai, estimated to be around 250 crores. The house is spread over an area of 8 acres. And in the realm of real estate it is estimated that the winds will be in the favor of the business tycoon and the property price will skyrocket in value.

Investment in Alibaug

Damani also owns a 156-room Radisson Blu resort near the beachfront in Alibaug which also is a spectacular location. And knowing Radhakishan Damani, and his investments the house must have a great value and would probably appreciate in value in the near future.

A noteworthy Deal in Mumbai

Radhakishan damani has made a deal which has increased his Real estate Portfolio. He and his family members have invested in 23 luxurious homes in high-end residential projects in Mumbai. The deal worth Rs 1200 crore is one of the biggest deals that Damani has made. This residential project known as Three-sixty West is located at Dr. Annie Besant Road, Worli.

The size of each apartment is 5000 sq ft. and they made the deal for approximately 50- 60 crore whereas the apartments were sold for approximately 70-80 crore earlier.

The project features two towers, one will be a hotel owned by Ritz-Carlton and the other will have luxurious residences managed by Ritz-Carlton.

Damani has also bought an area of over 8.8 acres for rs 500 crore from CCI projects near Sanjay Gandhi National Park.

Some Interesting facts about Damani and his investment.

• Radhakishan Damani has invested in several real estate properties.
• He is the founder of DMart’ and has made significant profits during Covid 19.
• Damani owns a luxurious mansion in Malabar Hills, which is over 1001 crore and spread over an area of 1.5 acres, and one of the most expensive deals made in the real estate industry.
• He also owns an area near Sanjay Gandhi National Park of around 8.8 acres for Rs 500 crore.
• Radhakishan also has an apartment on Altamount Road in south Mumbai.
• Damani also has a property in Dr. Annie Besant Road, Worli.
• Radhakishan also has an apartment in Alibaug at the beachfront.
• Damani has also invested in a property in Thane estimated to be around 250 crore.
• Radhaikishan Damani has a net worth of $31.5 billion.
• Damani has also been featured in Forbes as India’s 100 richest tycoons.

Conclusion

Who would have thought That Radhakishan Damani, who was born into a middle-class family in Mumbai would become one of India's richest men? And no he wasn’t born with a silver spoon, it was through his hard work, resilience, and smart decisions that brought him to this height. Despite not having a formal higher education, he paved his way through all obstacles and made a name for himself. He is a visionary who despite being a billionaire shows humility and simplicity.

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