(Image source from: Instagram.com/yohanpoonawalla)

A prominent business family, the Poonawallas, have recently purchased a grand, standalone property in the esteemed Cuffe Parade area of South Mumbai. Billionaire industrialist Yohan Poonawalla and his wife, Michelle, have acquired this sprawling 30,000 square-foot mansion for over ₹ 500 crore, making it one of the most expensive residential deals in recent times. The property will serve as their secondary home, aptly named the "Poonawalla Mansion." Yohan Poonawalla, the chairman of Poonawalla Engineering Group and a director of Poonawalla Stud Farms and Poonawalla Racing and Breeding, hails from a renowned business background. His father, Zavaray Poonawalla, co-founded the Serum Institute of India, a leading vaccine manufacturer. The Poonawallas are also renowned for their ownership of one of Asia's largest stud farms. Michelle Poonawalla, the Managing Director of the Poonawalla Engineering Companies, is a businesswoman in her own right. Her design firm, MYP Design Studio, will spearhead the transformation of the newly acquired property into the "Poonawalla Mansion."

The mansion's spacious layout, featuring expansive terraces and multiple floors, provides a high degree of privacy and exclusivity. This luxurious setting will serve as the perfect backdrop for the couple's extensive art collection. A part of the residence will be converted into a private art gallery, showcasing Michelle Poonawalla's unique oil paintings and other prized pieces. The affluent district of South Mumbai has recently witnessed a surge in high-profile real estate acquisitions. Renowned cricketers such as Virat Kohli, Rohit Sharma, and Yuvraj Singh have all made significant investments in the area. Virat Kohli has acquired a luxurious apartment worth ₹ 34 crore in Worli's prestigious 'Omkar 1973' project, while Rohit Sharma has purchased a ₹ 30 crore property at Ahuja Towers, also located in Worli. Yuvraj Singh has added a ₹ 64 crore property to his real estate portfolio in the same neighbourhood. The trend extends beyond the world of sports, as film producer and director Dinesh Vijan has joined the ranks of celebrity property owners in South Mumbai, acquiring a sprawling 9,000 sq ft residential property. Suhana Khan, the daughter of renowned Bollywood actor Shah Rukh Khan, has purchased 1.5 acres of agricultural land in Alibag for ₹ 12.91 crore, and Alia Bhatt's production company has acquired a 2,497 sq ft apartment in Bandra for ₹ 37.80 crore.