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Bollywood actor Ranveer Singh and his dad Jugjeet Sundersingh Bhavnani’s firm Oh Five Oh Media Works LLP has bought a sea-facing luxury quadruplex worth 119 crore in Mumbai's Bandra. 

The deal, one of the most expensive for a residential unit in the country, has made Singh Bollywood superstar Shah Rukh Khan’s neighbour.

The apartment is spread over the 16th to 19th floors of the under-construction Sagar Resham Co-operative Housing Society, located on BJ Road, Bandstand, according to documents provided by Indextap.com.

It has a total 11,266 sq ft of carpet area and a 1,300 sq ft exclusive terrace. In addition to this, Singh will also get access to 19 car parks in the building. 

He has paid 118.94 crore for the apartment and 7.13 crore as stamp duty for the registration. This means, the per sq ft rate without considering the terrace area comes at 1.05 lakh.

“An old building is now being redeveloped (Sagar Resham). The lower floors will be occupied by the existing residents. The 16th floor is a 4BHK, whereas the remaining three floors 17 to 19 are a penthouse," Hindustan Times quoted a Bandra-based realtor as saying. 

Further, Yashika Rohiira of Karma Realtors was quoted to have said: “The project is a premium one-of-a-kind project on Bandstand, and also additionally derives value of being Shahrukh Khan’s neighbour."

This comes as India's residential real estate segment continues to see growth this year.

According to global property consultancy firm Knight Frank, India's residential real estate segment has recorded a 9-year high in terms of sales volume during the first half of 2022 (January-June).

The residential space saw an annual growth of 60% during the period to 158,705 housing units across top eight cities in the country, as compared to 99,416 in the first half of 2021.

Previously, such volumes were reported in 2013.

During January-June 2022, launches of new housing units recorded a growth of 56% year-on-year at 160,806 units.

For the commercial office segment, the Indian market grew substantially and delivered a strong performance as it recorded transactions to the tune of 25.3 million square feet, up by 107 per cent. It indicated the potential of the market on the back of a waning pandemic and promise of a sustained economic recovery.

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