birla lives with his family in a threestorey mansion in the prestigious carmichael road enclave mumbai industrialist kumar mangalam birla is believed to have emerged as the highest bidder for jatia house a sprawling bungalow on malabar hill as reported by toi on september 2 of last year amit jatia who holds the mcdonalds india franchise and is part of the another branch of the jatia family bl jatia group purchased razak haven an old threestorey building at nepean sea road for around rs 175 crore a spokesperson for the aditya birla group of which kumar birla is chairman also declined comment saying it was a personal matter kumar birla to bid for units offloaded by lafarge holcim jatia house is a twostorey bungalow with a builtup area of over 30000 sq ft on land measuring a little under an acre in 2011 industrialist sajjan jindal bought maheshwari house a threestorey seafacing bungalow with a porch and a garden at nepean sea road for rs 400 crore a price that is now set to be eclipsed by the jatiabirla deal read in hindi the family said it would not raze the historical property and plans to move in jatia house on malabar hill is close to another landmark bungalow meherangir once the home of homi bhabha bhabha father of indias atomic energy programme the jatia brothers have been trying to sell the property for the past two years the bungalow was built in the 1950s and owned by arun and shyam jatia of pudumjee pulp and paper mills ltd part of the mp jatia group of companies birla is said to have no plans to redevelop the jatia property read also the deal was brokered by global property consultant jll india which declined comment when contacted most of the family members have moved away and the few who remain found the property too big to live in said the person quoted earlier in fact a property redeveloper had almost bought the bungalow last year but then backed out because of regulatory issues said a person in the know the 17150 sq ft property was bought last year in an auction by the family of smita crishna sister of industrialist jamshyed godrej for rs 372 crore sources said four other bidders two industrialists from mumbai and one from delhi and a developerwere in the race when bids were opened last week knowledgeable sources in the real estate market said birla had quoted around rs 425 crore making it probably the most expensive bungalow property to change hands in mumbai till now last year toi had reported how some of mumbais uberwealthy were zeroing in on bungalow properties as the ultimate status symbol in 2013 mp aggarwal chairman of sajjan india paid rs 180 crore to the fazalbhoy family to buy glamis villa a bungalow on bhulabhai desai road off breach candy the jatias who have lived in the bungalow for about