Home / Business and Economy / Tata Sons Leases Historic Colaba Bungalow for Ratan Tata
Tata Sons Leases Historic Colaba Bungalow for Ratan Tata
11 Mar
Summary
- Tata Sons leased a luxury 13,200 sq ft bungalow in Colaba.
- The 60-month lease costs Rs 17.57 lakh monthly with a Rs 10 crore deposit.
- The bungalow was previously used by the late Ratan Tata.
Tata Sons has secured a lease for 'The Cabins', a luxury bungalow in Mumbai's affluent Colaba area, situated on Shahid Bhagat Singh Road. This action signifies a renewed association with a property historically linked to the Tata family and specifically to the late Ratan Tata.
The expansive bungalow boasts a super built-up area of 13,200 sq ft, encompassing a basement, ground floor, and three additional floors. This makes it one of the larger standalone residential properties available in the desirable Colaba precinct.
The lease agreement, finalized in February, is for a 60-month tenure commencing October 10, 2024, and concluding on October 9, 2029. The monthly rent is set at Rs 17.57 lakh, supported by an interest-free security deposit of Rs 10 crore.
Registration documents indicate stamp duty payment of Rs 4.63 lakh for this five-year lease. The property has a history of structural concerns, with the original building declared dilapidated in 2004 and subsequently rebuilt after obtaining necessary approvals in 2008.
Group patriarch Ratan Tata, who passed away on October 9, 2024, at 86, was a pivotal figure, leading the Tata Group and Tata Sons from 1991 to 2012. His tenure was marked by global expansion through significant acquisitions and a strong commitment to philanthropy via Tata Trusts.
