Sajjan Jindal to sell Morena House

Sajjan Jindal’s JSW Group has put the Morena House on the block, sources with direct knowledge said. The sprawling bungalow at up market, Carmichael Road in Mumbai was bought by Sajjan Jindal at around Rs 125 crores. This bungalow used to house the Belgian Consulate till 2008.

Morena House was convenient for JSW as it is situated right behind Jindal Mansion on Peddar Road. Morena House is presently used as an office for some JSW officials. With JSW Group’s head office coming up at BKC all the employees are expected to move there. Sources also suggest that there are some more properties bought by the group to accommodate additional officials close to the BKC office.

Sajjan Jindal did not comment on the developments. Property experts said, this deal may not be driven by the normal market forces and may command a premium as the supply of property is lower than the demand in the area.