Jones Lang LaSalle (JLL), an international consultancy firm which carried out the deal, has confirmed the sale. The firm also confirmed the property will be used for the industrialist's personal purpose.
    
"Jatia House, which has a built-up area of of about 25,000 sq ft has been sold at Rs 425 crore to Birla," a JLL official said.
    
This is the largest deal after the iconic Maheshwari House on Mumbai's Napean Sea Road which was bought by industrialist Sajjan Jindal of JSW in 2011.

According to PWC Executive Director Shashank Jain, when properties are bought for personal-use, the commercial valuation is generally not taken into consideration.
    
The Jatia House was owned by Y Jatia and was occupied by brothers Arun and Shyam Jatia, who run the Pudumjee Industries. The property was bought in 70s from M C Vakeel.

 

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