BENGALURU, June 1 -- Derive Trading and Resorts Pvt. Ltd, in which retail chain DMart founder and chairman Radhakishan Damani is a director, has leased a luxury apartment in Mumbai's upscale Worli locality to One SGG Ventures LLP for a monthly rent of Rs.27.5 lakh, in one of the most expensive residential rental transactions in recent times.

The 6,831 sq ft sea-facing apartment, which comes with four car parks, is located in Three Sixty West, one of Mumbai's best-selling luxury housing projects developed by Oberoi Realty Ltd. The tenant will pay Rs.3.3 crore in annual rent, along with a 5% escalation every year. The lease deed, signed on 27 May, is for a five-year tenure, according to real estate data platform Zapkey. The agreement also ...