Mumbai, India’s bustling financial hub, has once again made headlines with a jaw-dropping real estate transaction. A lavish apartment in the city was recently sold for a staggering sum of Rs. 96 crore. The buyer, Sumir Chadha, who is the co-founder and managing director of the esteemed investment firm Best Bridge Capital, sealed the deal for this opulent property.
Mumbai has long been renowned for its extravagant residences, and this sale adds to the city’s reputation for luxury living. Notably, Mumbai is also home to the famed Antilia, owned by Mukesh Ambani, which holds the distinction of being the world’s second-most expensive dwelling with a value of Rs. 15,000 crore. The city frequently witnesses high-profile individuals acquiring properties worth millions, showcasing their success and power.
The recent transaction that has everyone talking involves a sprawling apartment situated in Mumbai’s Worli area. This 60th-floor abode was presented to the market by Oberoi Realty Ltd., and it captured the attention of Sumir Chadha, a buyer with a discerning taste for luxury. Alongside the impressive Rs. 96 crore price tag, Sumir Chadha also shouldered a stamp duty of Rs. 3.59 crore for this exceptional dwelling. The official agreement for this transaction was formalized on August 18, 2023.
Now, let’s take a peek inside this lavish apartment that has fetched such a substantial amount. The residence boasts an extensive built-up area of 7,459 square feet, providing ample space for grand living. Within this, a carpeted area measuring 6,799 square feet ensures comfort and luxury in every corner. The architectural marvel was brought to life by the esteemed Oasis Realty, a company known for its exceptional projects.
Valued at an astounding rate of approximately Rs. 1.29 lakh per square foot, this 60th-floor apartment stands as one of the most expensive residential transactions in history. Notably, the value surges even higher to more than Rs. 1.42 lakh per square foot when considering the carpet area of 6,779 square feet.
In a noteworthy property deal from earlier this year, the immediate family and close associates of Radhakishan Damani, the owner of D Mart, secured a substantial package comprising 28 apartments in Tower B of Three Sixty West. The price tag for this remarkable acquisition was a staggering Rs. 1,238 crore, further underlining Mumbai’s reputation as a hub for high-value real estate transactions.