MUMBAI: Tata Sons has leased a luxury bungalow in Colaba, south Mumbai, reinstating its ties to a property historically associated with the Tata family. Known as ‘The Cabins’ and situated on Shahid Bhagat Singh Road, the bungalow was formerly utilized by the late Ratan Tata.
This expansive bungalow features a super built-up area of 13,200 sq ft, including a basement, ground floor, and three upper levels, marking it as one of the larger standalone residential properties in the Colaba region.
The owner of the property is Ewart Investments Ltd, a subsidiary of Tata Sons. A lease agreement has been finalized for a duration of 60 months, commencing on October 10, 2024, and concluding on October 9, 2029, with the agreement signed back in February.
The long-term lease terms include a monthly rental fee of Rs 17.57 lakh, alongside an interest-free security deposit of Rs 10 crore, as detailed in registration documents obtained from Zapkey.com, a real estate data analytics platform.
This premium property transaction also involves an interest-free security deposit of Rs 10 crore, reflecting the property’s esteemed nature and its prime location within one of the most exclusive neighborhoods of India’s financial hub.
The lease also covers a stamp duty payment of Rs 4.63 lakh, calculated based on the total rent throughout the lease duration as well as the interest on the refundable deposit.
The property holds significant historical value; it was declared ‘dangerously dilapidated’ in 2004 by the Mumbai Building Repairs & Reconstruction Board, leading to its subsequent reconstruction after receiving a No Objection Certificate (NOC) in 2008.
Tata Sons has chosen not to comment on this story.
The bungalow is ideally located on Shahid Bhagat Singh Road in Colaba, one of Mumbai’s most coveted residential areas, in proximity to key commercial and heritage sites in south Mumbai.
Ratan Tata, the group patriarch, passed away on October 9, 2024, at 86. Under his leadership as chairman from 1991 to 2012, Tata Group significantly expanded its global footprint with high-profile acquisitions such as Tetley, Corus Group, and Jaguar Land Rover. Renowned for his philanthropic efforts, he also chaired Tata Trusts, which funds initiatives in healthcare, education, and rural development.
