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NRI businessman Jai Mahtani Buys luxury sea view apartment in JSW Realty’s super-premium project Morena House in the south Mumbaiis luxurious Carmichael Road 83.37 crores for Rs.
The deal for the apartment, spread over a carpet area of 5,211 sq ft, is priced at around Rs 1.60 lakh per sq ft, making it one of the costliest property transactions in the country. The buyer has paid Rs 5 crore as stamp duty alone for the registration of the deal.
Mahtani is one of the directors of the London-based headquarters monohill Ltd., is a privately held construction company with offices in UK, Dubai, Hong Kong and India. The company is a vertically-integrated manufacturer of polymers, chemicals, industrial resins, pigmentsand solvents, and its markets include Africa, Asia and Europe.
As part of the agreement, which was concluded and registered on January 20, Mahtani will receive exclusive access to four parking slots, documents obtained through Indextap.com, a real estate advisory firm, show.
Windsor Residency, a division of JSW Realty has developed luxury Residential Project Morena House on the plot of Morena House, which the company had bought in 2008. Prior to this, the bungalow with a single-storey terrace was used for the Belgian Consulate.
ET’s separate email queries to Mahtani and JSW Realty remained unanswered till the time of going to press.
Pranab Modi and Purvi Asher, part of the promoter group of the leading pharmaceutical company, in July 2021 JB Chemicals & Pharmaceuticals bought two sea-view luxury apartments for Rs 138 crore.
In December 2020, Gautam Daftary of Bharat Serums & Vaccines bought an entire floor with two large sea-view apartments in an almost completed project on Carmichael Road for Rs 101 crore, one of the costliest residential transactions concluded that year. there was one.
Hasit Dani, a member of Asian Paints The promoter family also bought a duplex apartment for Rs 95 crore in a project being built on the plot of Alhambra, a former Hindustan Unilever guesthouse on Carmichael Road. The deal was worth over Rs 1.49 lakh per sq ft.
While registration data is suggesting greater traction in housing sales in suburban areas, these luxury deals in south and south-central Mumbai are also taking the country’s costliest property market to new highs.
Mumbai, the country’s largest and costliest property market, continued to post a strong pace of real estate sales in January despite a rise in mortgage rates and property prices as consumer sentiment towards home buying remained strong.
The registration performance has made the month the second best January ever, while the stamp duty collection figures are the best for any January. The peak of registrations in the first month of the year was seen in January 2021, when the benefit of lower stamp duty was reaped.
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