Curation Team
Amit Rathi, co-founder of global quantitative multi-asset trading and investments platform QiCAP.Ai, has purchased a luxury apartment in Mumbai’s plush Worli locality for around Rs 90 crore.
Rathi, who is part of Anand Rathi Financial Services’ promoter family, has acquired the luxury property on the 62nd floor of the country’s tallest residential tower. A few financial services industry professionals have also bought apartments here recently.
The deal values the apartment spread over 7,687 sq ft at nearly Rs 1.17 lakh per sq ft, pushing it into the tally of most expensive residential deals anywhere in the country.
The buyer has purchased the apartment in the project Palais Royale directly from the developer Honest Shelters and paid stamp duty worth Rs 5.39 crore for the registration of the deal that took place on March 22, showed the documents accessed through Zapkey.com.
Rathi, erstwhile non-executive director of Anand Rathi Wealth, had resigned from the company in October 2022. He has started his own ventures QiCAP.Ai and QI Brokerage.
ET’s email query to Rathi and calls to Honest Shelters’ Director Pawan Mittal remained unanswered until the time of going to press.
The project, which started in 2008-09, was stuck for more than a decade owing to earlier litigation before restarting the work in 2021. It has now received a part occupation certificate and is scheduled to be delivered soon.
Pune-based Honest Shelters had acquired this project for over Rs 700 crores in an e-auction conducted in 2019. It has then undertaken to comply with all responsibilities and obligations related to completion of the project and handing over possession of apartments to the homebuyers.
The sale made by the project’s secured lender was upheld by the Supreme Court in 2023 and Honest Shelters has since made requisite changes in the project to be in full compliance with the building codes and complete the project, which is slated to be delivered now.
