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    When Mukesh Ambani gifted his trusted aide Manoj Modi a 22-storey home, worth Rs 1,500 cr

    Mukesh​ Ambani has always trusted Manoj Modi with Reliance's business expansion.​Agencies
    Mukesh Ambani has always trusted Manoj Modi with Reliance's business expansion.

    Story outline

    • Mukesh Ambani gifted a multi-storey building, worth Rs 1,500 cr, to his trusted aide Manoj Modi
    • Modi helped Ambani grow the Reliance business and execute complex projects
    • As a token of 'thank you', Ambani bought a 22-storey home for Modi in Mumbai's posh location
    • Prices of residential places at Nepean Sea Road are between Rs 45K per sq ft to Rs 70K per sq ft
    • The building spreads across 1.7 lakh square feet
    India and Asia's richest person Mukesh Ambani, who has a net worth of more than $85 billion (nearly Rs 7 lakh crore), is a man with a big heart.

    If reports are to be believed, the Reliance Industries Chairman gifted a 22-storey building to his close aide Manoj Modi, who was also referred to as his 'right hand', in Mumbai's posh location. It was reported that the luxury property was gifted to Modi a few months ago.

    A report by Magicbricks.com said that the property, named 'Vrindavan', is located at Nepean Sea Road near Malabar Hill in South Mumbai.

    The property prices of residential spaces in this premium location are priced between Rs 45,100 per square foot to Rs 70,600 per square foot. According to The Global Realty analysis, the price of Modi's new Nepean Sea Road property is estimated to be at Rs 1,500 crore.

    JSW Group Chairman and Managing Director Sajjan Jindal is also a resident of the sea-facing building, Maheshwari House, at Nepean Sea Road, which he bought at Rs 400 crore in 2011.

    The building spreads across 1.7 lakh square feet, and each floor measures around 8,000 square feet, as per the Magicbricks report.

    To design the luxury space, Modi appointed the architecture and interior design firm - Talati & Partners LLP. It is believed that some of the furniture in the house has been imported from Italy.

    The first seven floors of the multi-storey building have been dedicated to car parking. The Chemical Engineering graduate shares the living space with his family and two daughters.

    On the other, Modi who had two apartments located in Raheja Vivarea in Mahalaxmi, Mumbai, recently sold the flats on the 28th and 29th floors. The registration document shows that the apartments were sold for Rs 41.5 crore. Both apartments are spread over 2,597 square feet, each.

    Modi, who serves as the Director at Reliance Jio and Reliance Retail, has a track record of executing complex projects with the big boss. Ambani has always trusted Modi with his business expansion.

    Previously, Modi has handled critical projects for Reliance like Hazira petrochemical complex, the Jamnagar refinery, the first telecom business, Reliance Retail and the 4G rollout.
    ( Originally published on Apr 27, 2023 )

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