Cloud tech pioneer buys sea-facing apartment in Versova for ₹38 cr

Mumbai: Monish Darda, the co-founder and the chief technology officer of Washington-based software company — Icertis, has purchased a 3,055 sq ft sea-facing apartment in Vartamaan tower on Juhu Versova Link Road in Versova for a sum of ₹37.98 crore.

Darda purchased the apartment from Steesha S Bhojwani through her power of attorney Varun Ratanpal on January 18, 2023, according to registration documents accessed by Zapkey.com

Darda’s apartment is located on the 12th floor and the deal includes four stilt car parking spaces of 10 square meters each, and 6.39% undivided right, title and interest share in land and common areas of the building. The deal also includes voting rights, and representation in the apartment owners’ association, according to the registration document. A stamp duty of ₹2.27 crore was paid on registration.

Formerly called Mannat, Vartamaan is a favourite for Bollywood celebrities and is a luxury project developed by Bandra-based developer Samir Bhojwani.

Darda is known as the pioneer of cloud-technology, and serial entrepreneur with 30 years of experience in the enterprise software space. He co-founded the company with the CEO of Icertis, Samir Bodas.

Darda has overseen the development of Icertis Contract Intelligence platform, a leading contract management solution in the cloud, which is used by leading global companies such as Microsoft, Airbus, Johnson & Johnson, Daimler and pharma giant Sanofi among others, according to his profile on the company website.

Messages to the buyer and the developer for a comment went unanswered. A real estate analyst said, “The developer is known for giving additional usable area apart from a chargeable area in all his luxury properties. Bhojwani had given apartments only on rent initially and has started selling only recently.”

In October 2020, actor Hritik Roshan had purchased two apartments including a duplex, spanning across 38,000 square feet on the 14th, 15th and 16th floor of the building for ₹97.50 crore. The deal included 6,500 square feet open terrace and exclusive lift apart from 10 car parking spaces.

In November 2021, Super Cassettes Industries, which owns the T-Series brand, purchased a sea-facing 3,665 sq ft apartment in Vartamaan for ₹25 crore.