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Business News/ Money / Real Estate News: Shahid Kapoor spends over 60 crore to buy another posh apartment in Mumbai at 1 lakh per sq ft
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Real Estate News: Shahid Kapoor spends over ₹60 crore to buy another posh apartment in Mumbai at ₹1 lakh per sq ft

Shahid Kapoor and Mira Kapoor bought a sea-view apartment in Mumbai's Worli area for over ₹60 crore, including stamp duty of ₹1.75 crore. The 24th-floor apartment was sold at the rate of ₹1 lakh per sq ft.

Shahid Kapoor and Mira Kapoor have spent over ₹60.41 crore to buy a sea-view apartment in Mumbai's Worli area. (Instagram/@mira.kapoor)Premium
Shahid Kapoor and Mira Kapoor have spent over 60.41 crore to buy a sea-view apartment in Mumbai's Worli area. (Instagram/@mira.kapoor)

Shahid Kapoor and his wife, Mira Kapoor, bought a sea-view apartment in Mumbai's posh Worli area. The Bollywood star couple paid more than 60 crore for it, the Hindustan Times reported. According to registration documents accessed by IndexTap.com, the apartment is in the Oberoi 360 West project.

Also Read: Mumbai expected to see a fall in property prices this year and next

The property transaction, worth 58.66 crore, was done on May 24, as per HT. Kapoor purchased a new apartment on the 24th floor from Chandak Realtors.

This is Shahid's second purchase in this tower. In 2018, Kapoor and his wife bought a duplex on the 42nd and 43rd floors of the same tower for more than 58.57 crore. 

Chandak Realtors bought this apartment for 35.31 crore in February 2023. It has now been sold to the Kapoors.

In February 2023, Chandak Realty bought 28 apartments in a large transaction. D'Mart owner Radhakishan Damani, along with his family and close associates, paid 1,238 crore for them.

According to HT, the deal was completed on May 24. Chandak Realtors handled it. Kapoor paid 1.75 crore as stamp duty to register it. The purchase also comes with three exclusive car parking spots in the tower.

Also Read: How much does a house cost in Mumbai?

"The particular apartment was purchased by the Chandak Realty at a price of around 65,000 per sqft and it has now been sold at a price of over 1 lakh per sq ft. This is over 50% appreciation in a period of one year," HT Digital quoted a real estate consultant, who did not wish to be named, as saying.

Mumbai real estate

After nearly two years of slow activity, luxury homes are becoming popular again in Mumbai, India's most expensive property market. This is because more people want to buy these types of homes.

Piramal Realty, from the Ajay Piramal Group, started a new project in Mumbai's Byculla area. More than four years ago, Piramal Realty bought the seven-acre land from Mafatlal Industries for 605 crore. Piramal Realty plans to spend 4,300 crore on this project over the next five years.

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ABOUT THE AUTHOR
Sounak Mukhopadhyay
Sounak, spinning the digital news scene since 2012, crafts trendy articles for LiveMint.
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Published: 28 May 2024, 12:09 PM IST
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