The city of Mumbai is no stranger to unimaginably mind-numbing property rates. And every few weeks, another leaf of luxury lands on the island city. The most recent of all comes from Mumbai-based FMCG company Marico. The group was founded by Harsh Mariwala in 1990.
Rs 65 Crore Flat in Mumbai's BKC
One of the members of the Mairwala family, Priyanjali Mariwala, who owns the company known for its Parachute Coconut Oil, is reported to have purchased an apartment in Mumbai.
This flat, according to reports from the Economic Times, was purchased in the special business district of the Bandra-Kurla Complex.
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The price of this apartment is estimated to be around Rs 65 crore. The flat purchased is a project from the real estate major Suntech Group. |
The price of this apartment is estimated to be around Rs 65 crore. The flat purchased is a project from the real estate major Suntech Group.
The apartment is said to be spread across a mammoth 8,300 sq ft. This is a huge number when one considers the fact that, according to a recent survey, the average size of a house or a flat in the city of Mumbai is estimated to be 743 sq ft.
Rs 78,690 per sq ft
This particular apartment, which is now owned by Priyanjali Mariwala, is situated on the first floor of Signature Island, opposite the Trident Hotel in BKC.
And the new owner is said to have paid a massive Rs 78,690 per sq ft. It comes with other luxury amenities, including 4 separate parking lots in a city where there is no space to drive, let alone park. |
And the new owner is said to have paid a massive Rs 78,690 per sq ft. It comes with other luxury amenities, including 4 separate parking lots in a city where there is no space to drive, let alone park.
In the hefty transaction, Mariwala also paid a lump-sum stamp duty of Rs 3.26 crore. It is to be noted that, in Maharashtra, a female buyer of a property has the privilege or concession of 1 per cent in the stamp duty that they pay.
While most of the market saw a relatively slow day, Marico's shares closed in green on Friday, July 5. The company's shares rose by an impressive 1.14 per cent or Rs 6.95, closing at Rs 615.00 per share.
