Rs 120 Crore Mumbai Penthouse Owner Rejects Bollywood Buyers, Cites ‘More Than Money’ Criterion
Rs 120 Crore Mumbai Penthouse Owner Rejects Bollywood Buyers, Cites 'More Than Money' Criterion
The luxury property seeks a buyer with strong family values and social compatibility.
A lavish penthouse in Mumbai’s Lower Parel, priced at an eye-watering Rs 120 crore, remains unsold despite significant interest, particularly from Bollywood celebrities. The penthouse spans a massive 16,000 square feet on the 60th floor of One Avighna Park and features six bedrooms, a glass-walled elevator, a rooftop pool, a gym, and parking for up to eight vehicles. However, the stringent criteria set by its owner, Nishant Agarwal, head of the real estate company that developed the building, has deterred potential buyers.
According to Agarwal, the sale of this property isn’t just about the highest offer. “This property cannot be purchased simply with money. We need to ensure that the buyer is the right person,” he told Bloomberg. Agarwal is determined to find a buyer who fits the profile of a socially reputable individual with strong family values and humility.
Celebrity real estate broker Ravi Kewalramani, hired to facilitate the sale, revealed that the screening process includes background checks, reputation assessments and even visits to potential buyers’ offices to evaluate their businesses. Bollywood stars and other high-profile individuals have expressed interest but many were rejected for failing to meet these stringent requirements. “We want a family that can integrate well with the neighbours, someone who is humble and doesn’t flaunt their wealth,” Kewalramani explained.
While the penthouse’s features are undeniably luxurious, its exclusivity is now tied to the social values and lifestyle of its prospective owner. Agents have been tasked with assessing the personality and cultural fit of buyers as much as their financial standing. Agarwal’s vision for the property involves preserving the elite yet harmonious environment of the building’s community.
If a suitable buyer is not found, Agarwal is considering renting out the penthouse for Rs 40 lakh per month, but only after applying the same meticulous vetting process to tenants.
The unusual sale conditions reflect a growing trend among ultra-luxury property owners, where factors like community compatibility and personal values are increasingly prioritized over financial capacity alone. This move could redefine how high-end properties are marketed and sold in Mumbai’s elite circles.
Despite its unmatched grandeur and prime location, this penthouse’s future remains uncertain, awaiting the “perfect” owner who meets both financial and social benchmarks.
