This is a residential building built way back in 1952. The unique feature about it is that it is owned by LAXMI HOUSING CO PVT LTD, a unique feature being that each shareholder member has a transferable title to his premises. This ownership model crefted by Shri M P CHITALE, A RENOWNED CHARTERED ACCOUNTANT, who has been the president of the ICAI, THE PROFESSIONAL BODY registered under an Act of Parliament. This model was replicated by SHRI NANI PALKHIWALA when the 1st building in Nariman Point, NIRMAL was constructed way back in about 1980.
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