The director of Inox Group – Mr. Siddharth Jain recently purchased a quadruplex apartment in the top-class and rich area of Mumbai, Worli for around Rs. 144 crores according to official sources.
A quadruplex house refers to any residential property that contains four separate units or households and are generally purchased by one person or group.
This property connects the forty second floor all the way to the forty sixth floor making it a quad story mega apartment. The builders and architects of this property is the very highly regarded and sought after Raheja Universal Builders which is an upscale construction developers company based in Mumbai.
The building is home to solely the richest people in Mumbai and it boasts various amenities such as a top-class gymnasium, a huge swimming pool, a supermarket, many children’s parks and play areas and even round the clock top level security guards and infrastructure such as CCTV Cameras and gates that can only be open by residents.
Therefore, purchasing four houses in this building shows that you are extremely successful and that you literally have money to burn. The property was purchased by Mr. Siddarth Jain at around Rs. 144 crores and he paid a hefty stamp duty which amounted to over Rs. 7 crores.
Jor Bagh is one of the poshest areas in the entire region of South Asia and a six-bedroom house there is estimated to be around Rs. 115 crores. Therefore, you can clearly understand that the property that is now owned by Mr. Jain is one of the most valued, posh and upscale ones you can get your hands on not only in India but South Asia as a whole.
On the 28th of March this year, both INOX and PVR announced that they will be merged into a single entity known as PVR INOX Ltd. Over the past two to three years, the entire cinema screening industry experienced a period of huge slumps due the coronavirus pandemic and multiple lockdowns imposed by the government all across the nation.
The pandemic now seems to be a thing of the past now and the merger is set to take over the country and dominate the cinema screening field of the country. Therefore, the net worth of director, Mr. Siddharth Jain will only increase with this new stock swap deal between the two firms.
Recently, Indian and RCB batsman Virat Kohli and his wife, actress Anushka Sharma rented a house in the same building on the fortieth floor paying around Rs. 18 lakh a month.