Mumbai: The city’s luxury realty market is witnessing a new high, with the latest deal, registered last week, fetching the developer ₹151 crore for two flats in a luxury building in Worli. The deal took place in the ultra-luxury project Three Sixty West, which is home to several top business and Bollywood celebrities including Shahid Kapoor.
According to documents made available by Indextap.com, the deals were registered on September 8. The first flat is located on the 58th floor of the building, whereas the second one is on the 59th floor. Each flat costs ₹75.5 crore and measures 8,036 sq ft, thus taking the total consideration of the apartment to ₹151 crore and the total area to 16,072 sq ft.
The stamp duty paid for the registration of both apartments is ₹9.06 crore. The buyer here is a firm named IGE (India) Pvt ltd, whereas the seller is Oasis Realty.
Along with the home, the new occupants of the flats will have access to six car parks.
This property received its Occupancy Certificate (OC) last month, and experts say that because of this too the prices of homes in the building have seen a considerable rise.
“On checking the transactions of project 360 West we saw most sale transactions in years 2020-2021 were in the range of ₹65,000- ₹70,000 per sq ft wherein a 7,530 sqft apartment traded at approx. ₹47-50Cr. This project received its OC last month, post which the project has seen a phenomenal rise in trade value. The recent transaction in September 2022 of a unit size of 8,036 sq ft traded at ₹75.5cr, which is approx. 95,000 per sq ft. Once again, this reiterates that HomeBuyers prefer Ready Properties and there is still an unsatiated appetite for luxury homes in Mumbai,” said Abhishek Kiran Gupta, CEO & Co-founder, Indextap.com
{{/usCountry}}“On checking the transactions of project 360 West we saw most sale transactions in years 2020-2021 were in the range of ₹65,000- ₹70,000 per sq ft wherein a 7,530 sqft apartment traded at approx. ₹47-50Cr. This project received its OC last month, post which the project has seen a phenomenal rise in trade value. The recent transaction in September 2022 of a unit size of 8,036 sq ft traded at ₹75.5cr, which is approx. 95,000 per sq ft. Once again, this reiterates that HomeBuyers prefer Ready Properties and there is still an unsatiated appetite for luxury homes in Mumbai,” said Abhishek Kiran Gupta, CEO & Co-founder, Indextap.com
{{/usCountry}}This building in the past has seen some major big-ticket deals.
In March 2018, industrialist Niraj Bajaj paid ₹120 crore for a flat on the 50th floor of Three Sixty West. In the same year that is 2018, Shahid Kapoor bought a flat on the 42nd & 43rd floors of the building for ₹55.6 crore. In September 2020, BJP MLA Kirti Kumar (Bunty) Bhangdiya from Chimur constituency in Vidarbha’s Chandrapur district bought a flat on the 26th floor of this building for ₹42.5 crore.
In November 2021, Umesh Dharnidharka and Nisha Dharnidharka, well-known faces of Mumbai’s business circle paid ₹51 crore for a flat on the 30th floor of the building.
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