Cyrus Poonawalla Purchases Mumbai's Lincoln House for 750 Cr

MUMBAI: Bulge-bracket property deals by the rich and the famous are not new to the land-starved megapolis, but the weekend sale of the iconic Lincoln House here to the Pune-based industrialist Cyrus Poonawalla for Rs 750 crore is nothing but mind-boggling.

The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US Consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest ever real estate deal in the country’s financial capital.

Founded in 1966, Serum Institute of India is the largest producer of drugs for snake bite.

 The high-profile deal comes within a week of leading industrialist Kumar Mangalam Birla setting a record last week when he paid Rs 425 crore for Jatia House in the plush Malabar Hill area.
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