Tata Group Chairman N Chandrasekaran buys duplex he was renting for 5 years; know More
Mumbai, May 7: Tata Group chairman N Chandrasekaran and his family have purchased a magnificent duplex home in Mumbai's Pedder Road.
Notably, this is the first high amount personal transaction he has made after becoming the Tata Group chairman for the second time.
As per the reports, market observers have termed the Rs 98 crore duplex in a luxurious tower as a ‘high profile’ transaction.
Chandrasekharan and his family were staying in the duplex on lease for the last five years. The house, which he has acquired is spread across 6,000 square feet on two floors of the building.
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Chandrasekaran made the purchase after Tata Sons recently reappointed him as chairman for another five years, till February 20, 2027. With an annual remuneration of around Rs 91 crore in fiscal 2021, Chandrasekaran is one of the country's highest-paid corporate bosses.
As per the media reports, the deal has been registered around three days ago in the name of Chandrasekaran (58), his wife Lalitha and son, Pranav.
According to a report by the Times of India, Chandrasekharan along with his family was already residing at the duplex for some years on a monthly lease rental of Rs 20 lakh. The Tata chairman moved into 33 South Condominium after he assumed the charge of the top post at Tata Sons on February 21, 2017."
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-PTC News
