In a significant development for Mumbai's luxury real estate market, Shree Naman Residency Pvt Ltd has announced two major transactions in the upscale neighborhood of Worli. The apartments have been purchased by Parekh family that owns Barnsley Football Club in Yorkshire.
The first transaction involves apartment No. 22 at Naman Xana, located on Khan Abdul Gaffar Khan Road, Worli. This premium property, spanning 7,104 square feet, was sold to Kalpana A Parekh for a staggering Rs 65 crore. The deal, finalised on December 7, 2024, includes stamp duty of Rs 3.25 crore. The apartment boasts four bedrooms and features a per square foot price of Rs 91,496.
In an even more notable sale, Duplex apartments 23 and 24 at the same address were acquired by Neerav A Parekh for Rs 105 crore. This luxurious duplex, encompassing a total area of 10,441 square feet, was sold on December 5, 2024. The transaction included a stamp duty of Rs 6.30 crore. The duplex offers six bedrooms and sets a new benchmark with a per square foot price of Rs 1,00,561.
These record-breaking deals underscore the premium valuation and desirability of properties in Worli, an area known for its exclusivity and prime location. The transactions reflect the high stakes and competitive nature of Mumbai's luxury real estate market, where prime properties continue to attract substantial investments despite broader economic conditions.
The substantial investments made by Kalpana A. Parekh and Neerav A. Parekh highlight the enduring appeal of Worli's luxury apartments. These transactions are expected to have a significant impact on the market, potentially driving up prices and setting new standards for high-end real estate in Mumbai.
For Shree Naman Residency Pvt Ltd, these sales represent a significant achievement, reinforcing their position as a leading developer in Mumbai's luxury housing sector. The company has a reputation for delivering premium properties that meet the high expectations of their affluent clientele.
As the market looks ahead, these transactions are likely to be closely watched by investors and industry experts, providing valuable insights into the dynamics of Mumbai's luxury real estate sector.
