The late industrialist Ratan Tata’s beachfront villa on Mahe, the largest island in Seychelles, has been put up for sale. According to his will, Tata left the property to RNT Associates, his Singapore-based fund that supports Indian startups. Independent valuers appointed by the executors of the will had placed a relatively modest valuation of ₹85 lakh on the villa, according to reports.
Sources indicate that Aircel founder C. Sivasankaran, along with his family or associates, has shown interest in buying the property for $6.2 million (roughly ₹55 crore). When approached, Sivasankaran told TOI, “I don’t know what you are talking about.” The sources clarified that while talks have occurred, no formal deal has been signed.
Sivasankaran, a citizen of Seychelles, had helped Tata acquire the villa in the past. Under local law, only citizens can purchase property, but Tata received an exception due to his international stature as an industrialist and philanthropist. Tata Motors’ contributions to Seychelles’ transportation needs were even recognized with a commemorative stamp in 1982.
Previously, Tata’s Denis Island property was managed by Indian Hotels (Taj) for some years after 2004. Today, neither Tata Motors nor Taj maintains business interests in Seychelles.
Sivasankaran, 69, has shared insights into his long-standing friendship with Tata, recalling daily visits to Tata’s modest 3-BHK home in Mumbai, where they spent about 45 minutes together—often while Tata exercised. On one flight from Singapore to Seychelles, when an engine failed, Tata reportedly remained calm and told the pilots to do their job, while Sivasankaran panicked and even emailed his Gmail password to his son. Their friendship also led Sivasankaran to invest in Tata Group’s telecom venture.
If the villa is sold, the proceeds will be split equally between the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust, as per the Bombay High Court order dated June 16, 2025.
The significant difference between the property’s valuation and the offer from Sivasankaran’s family suggests a willingness to pay a premium. His son, Saravana Sivasankaran, 41, founder of Marlo Technologies, is reportedly involved in the process. The family aims to acquire the property free of any pending construction charges or taxes.
How the deal will be finalized remains unclear, given Sivasankaran’s ongoing bankruptcy proceedings in the Seychelles Supreme Court. He has said that once his case is heard, he expects to recover his funds.
Known as a serial entrepreneur, Sivasankaran has previously owned two islands in Seychelles and several international properties. He built Sterling Computers, Dishnet DSL, and the Fresh & Honest coffee chain, with his net worth once estimated at over $4 billion. Despite public perception, he has stated, “I am not poor. Many people in India think I am poor. No, I am broke.”
