Welspun chairman buys penthouse in Worli for ₹230 crore

The transaction came days after D Mart owner Radhakishan Damani, his immediate family and close associates purchased 28 units in a bulk deal for a total of ₹1,238 crore in the same project

Mumbai: Welspun Group chairman BK Goenka has purchased a penthouse in Oberoi Realty’s luxury project Three Sixty West at Worli for ₹230 crore, making it the second biggest transaction of 2023 in the city.

Welspun Group chairman BK Goenka has purchased a penthouse in Oberoi Realty’s luxury project Three Sixty West at Worli for ₹230 crore, making it the second biggest transaction of 2023 in the city. The penthouse on the 63rd floor in Tower B is spread across a carpet area of 29,885 sq ft. (Hindustan Times Media)

The transaction came days after D Mart owner Radhakishan Damani, his immediate family and close associates purchased 28 units in a bulk deal for a total of ₹1,238 crore in the same project.

The penthouse on the 63rd floor in Tower B is spread across a carpet area of 29,885 sq ft. The deal includes a terrace area of 4,815 sq ft, additional area of 411 sq ft and free sale land of 13,0951 sq ft, according to the registration documents accessed by zapkey.com. The deal also includes 14 car parking spaces. A stamp duty of ₹13.83 crore was paid for the transaction.

According to the registration documents, the sale was registered on February 8 between Oasis Realty through its partners Skylark Buildcon Pvt Ltd and Oberoi Constructions Ltd with Taxreal Pvt Ltd, a textile company based in Kutch, Gujarat, through its authorised signatory Mukulraj Raghoti. Taxreal’s directors are also directors in several Welspun Group companies.

Welspun Group has businesses across sectors like home textiles, advanced flooring solutions, retail, infrastructure, warehousing, line pipe, stainless steel and alloys, with a presence in over 50 countries.

An email sent to BG Goenka went unanswered till the time of going to the press.

In the Damani deal, the costliest duplex apartments were 7,139 sq ft registered in the name of Damani’s three daughters—Manjiri, Jyoti and Madhu—on the 42nd, 53rd, 57th, and 61st floor in Tower B of the project. Their cost ranges from ₹92 crore to ₹99.90 crore.

In 2022, two apartments in the Oberoi Realty luxury project were purchased by Madhav Prasad Agarwal of Sajjan India Group and IGE (India) Pvt Ltd for ₹153 crore and ₹151 crore. The deal was among the top 10 real estate deals of the year.

As the finance minister had recently announced that the capital gain tax benefit on the sale of property above the value of ₹10 crore will be withdrawn, more such transactions are likely to take place before the new provision kicks in.