JK House in South Mumbai, owned by textile major Raymond, is being offered at a 90% discount to Chairman Gautam Hari Singhania and his close relatives. The property is touted as the second-tallest private residence after Mukesh Ambani's Antilia. However, proxy advisory firm IiAS has slammed the move as a “rip-off”, saying it will cost ₹650 crore in opportunity lost.