Mumbai: The high-end residential market in Mumbai has witnessed a significant transaction with promoters of Metro Brand Ltd. acquiring a total of five luxurious apartments in the prestigious Palais Royale, Lower Parel. According to registration documents accessed by IndexTap.com., the total value of these transactions amounts to a staggering Rs 405 crore
The initial two deals, previously reported, saw Ziya Malik and Alisha Rafik Malik each purchasing apartments at the esteemed Palais Royale for Rs 81 crore each. These transactions, dated December 20, 2024, involved the acquisition of Flat No. 61, South East, and Flat No. 61, North East, with areas of 7,687 sq. ft. and 7,672 sq. ft., respectively. Both properties include five car parkings, and the per square foot (PSF) prices were Rs 1,05,366 and Rs 1,05,579.
Following these initial purchases, three additional transactions were recorded, further solidifying the presence of Metro Brand Ltd.'s promoters in this luxurious development. On December 23, 2024, Farah Rafik Bhajni purchased Flat No. 61, South West, also measuring 7,687 sq. ft. and including five car parkings, at a PSF rate of Rs 1,05,366. Subsequently, on December 24, 2024, Shabina Malik Hadi acquired Flat No. 61, North West, with an area of 7,672 sq. ft., five car parkings, and a PSF rate of Rs 1,05,579.
The most recent transaction was recorded on December 26, 2024, when Zara Rafik Malik purchased Flat No. 62, North West, which spans 7,672 sq. ft. and includes five car parkings, at a PSF rate of Rs 1,05,579.
Each of these transactions involved a substantial stamp duty of Rs 4.05 crore, emphasizing the significant investment made by the promoters of Metro Brand Ltd. The total agreement value for all five apartments now stands at Rs 405 crore.
These acquisitions highlight the continued interest and investment in Mumbai's luxury real estate market, particularly in prime locations like Lower Parel. Palais Royale, renowned for its opulence and state-of-the-art amenities, remains a coveted address for the city's elite.
