Chandru Raheja – Billionaire
Chandru Raheja
REAL TIME NET WORTH — as of 5/1/17
$2.6 B
Mumbai real estate magnate Chandru Raheja’s privately held K. Raheja Corp., run by sons Ravi and Neel, recently sold a 15% stake in its commercial-property unit to private equity firm Blackstone for $260 million. This is likely to be a precursor to a REIT listing of these assets. The developer, known for its IT parks, has snatched prime land parcels recently; it bought a 62-acre plot for $53 million in the Navi Mumbai area and another 3-acre site from Siemens, together with Singapore’s sovereign wealth fund GIC, for $91 million. Other assets include hotels, malls and department store chain Shoppers Stop. One of four brothers, Raheja helped turn his family’s property management firm into a leading real estate developer in Mumbai. After a family split in 1996, he ventured out on his own.
Source:forbes
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