CaratLane Founder Acquires Chennai Property for Rs 36.5 Crore

Mithun Sacheti Acquires High-Value Residential Property in Chennai for Rs 36.5 Crore

Mithun Sacheti, the founder and former chief executive officer of jewellery brand CaratLane, has acquired a high-value residential property in Chennai for Rs 36.5 crore, according to property registration data accessed via Zapkey, a real estate data analytics firm. The transaction, registered on March 6, 2026, involves an independent house located on J.J. Road in Teynampet, one of Chennai's prime residential localities.

The deal was executed between the buyer and sellers M. S. Mukundan and M. S. Rajarajeshwari. The total land parcel measures 7,044 square feet, with a combined built-up area of 5,210 square feet. The acquisition comprises two adjoining residential properties along with a shared access passage, the documents showed. One of the properties, owned by Mukundan, spans 3,120 square feet of land and includes a G+1 residential structure with a built-up area of about 2,480 square feet. The second property, owned by Rajarajeshwari, covers 3,132 square feet of land and has a built-up area of approximately 2,729 square feet. In addition, a 792 square feet common passage is jointly owned by the sellers and forms part of the transaction.

Sacheti has spent over two decades in the jewellery business, beginning with his family-run Jaipur Gems before founding CaratLane. In 2023, he exited CaratLane in a deal with Titan valued at nearly $2 billion, marking one of the largest liquidity events in India's consumer sector. Beyond his entrepreneurial journey, Sacheti is an active angel investor with stakes in companies such as VIP Industries, Ippopay, Bombay Shirt Company, Oro Safe and Nazara Technologies. He is also a general partner and co-sponsor at Singularity Growth, a venture capital firm, and a limited partner in Flipkart co-founder Binny Bansal's 021 Capital.

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According to sources, Sacheti is exploring a full acquisition of Orra Fine Jewellery, as he looks to re-enter the sector. Sacheti already owns a property in Chennai. There was no immediate response available from Sacheti.

Teynampet, located in central Chennai, is known for its proximity to commercial hubs, premium residential neighbourhoods and key arterial roads, making it a sought-after location for high-value real estate transactions. Market observers said that such acquisitions by high-net-worth individuals and entrepreneurs reflect continued demand for premium residential assets in established urban micro-markets. Industry experts note that independent homes in core city locations remain limited in supply, often commanding higher valuations compared to apartment developments.

The deal adds to a series of high-value residential transactions seen in metro cities, where affluent buyers are increasingly investing in standalone properties and land parcels in prime areas for long-term use and capital appreciation.

Comparison of Land Parcels

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