MUMBAI: In the biggest residential transaction in recent times, a business family has concluded a bulk deal to buy four apartments in an upcoming residential tower at Nepeansea Road for Rs 240 crore. Real estate sources said the Taparia family’s flats bought from the Runwal Group are between the 28th and 31st floors of the luxury tower The Residence.
The deal, made last month, works out to around Rs 1.2 lakh per sq ft (super built-up area; each flat has a carpet area of 4,500 sq ft). The tower is located close to Kilachand House, touted as Mumbai’s last standing grand palace.
The Taparias once owned the contraceptive maker Famy Care, which they sold three years ago for about Rs 4,600 crore. The business family was also reportedly among the highest individual taxpayers from Mumbai.