MUMBAI: Tata Sons has leased a luxury bungalow in south Mumbai’s Colaba rekindling its association with a property that has long been linked to the Tata family. The bungalow, known as ‘The Cabins’, located on Shahid Bhagat Singh Road was used by the late Ratan Tata.
The bungalow has a super built-up area of 13,200 sq ft, comprising a basement, ground floor and three upper floors, making it one of the larger standalone residential properties in the Colaba area.
The property owner is Ewart Investments Ltd, a subsidiary of Tata Sons. The lease agreement has been signed for a 60-month tenure, effective from October 10, 2024, and running until October 9, 2029. Interestingly, the lease agreement was inked in February.
The long-term lease involves a monthly rent of Rs 17.57 lakh and an interest-free security deposit of Rs 10 crore, showed the registration documents accessed through Zapkey.com, a realty data analytics platform.
The transaction also involves an interest-free security deposit of Rs 10 crore, reflecting the premium nature of the property and its location in one of the most exclusive localities of the country’s financial capital.
The agreement also includes payment of stamp duty worth Rs 4.63 lakh that was paid for the five-year lease agreement, calculated based on the total rent payable during the tenure as well as the interest component on the refundable deposit.
The property itself has a long history. The original structure on the site was declared ‘dangerously dilapidated’ in 2004 by the Mumbai Building Repairs & Reconstruction Board, following which it was rebuilt. The reconstruction was carried out after the project received a No Objection Certificate (NOC) in 2008.
Tata Sons did not comment for the story.
Located along Shahid Bhagat Singh Road in Colaba, the bungalow sits in one of Mumbai’s most sought-after residential precincts, close to key commercial and heritage landmarks in south Mumbai.
Group patriarch Ratan Tata passed away on October 9, 2024, at the age of 86. He led the Tata Group and Tata Sons as chairman from 1991 to 2012, during which he played a key role in expanding the conglomerate’s global presence through landmark acquisitions such as Tetley, Corus Group, and Jaguar Land Rover. Known for his philanthropic commitment, he was also Chairman of Tata Trusts, which supports initiatives in healthcare, education, and rural development.
