The sale of a Rs 252 crore triplex penthouse to Bajaj Auto chairman Niraj Bajaj, once again put the spotlight on Malabar Hill as the most sought after real estate in India. As the demand for luxury homes surges in India, Worli has emerged as a preferred locality for CEOs, but the priciest houses remain in Malabar Hill.
The Rs 369 crore purchase of six sea-facing flats in Lodha Malabar by the family of industrialist JP Taparia confirms this.
What comes with the units
In what can be called one of India's biggest residential property deals, the Taparia family got 20 car parkings and paid Rs 19.07 crore as stamp duty.
The units being triplexes, the per square feet price went up to Rs 1.36 lakh per square feet.
This deal will also make the family of the Famy Care contraceptive maker, neighbours of the Bajaj Auto Chairman, who'll acquire the penthouse.
Demand surge ahead of new rules
Luxury property sales have gone up after February 1, after an announcement that reinvestment of capital gains from property sales will be capped at Rs 10 crore from April 1, 2023.
The past few months have also seen a Rs 230 crore home purchase by Welspun Chairman BK Goenka, and a sale of 28 flats in the same tower to DMart founder Radhakishan Damani's family members.
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