Rs 15 cr paid for 2,900 sq ft flat at Altamount Road

In a major transaction in recent times, when realty sales are showing a down trend, a 2,900 sq ft apartment of the British Deputy High Commission at Altamount Road was reportedly sold for Rs 15 crore.

In a major transaction in recent times, when realty sales are showing a down trend, a 2,900 sq ft apartment of the British Deputy High Commission at Altamount Road was reportedly sold for Rs 15 crore.

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This means the buyer who is said to be the managing director of a leading electric equipment firm has paid Rs 51,724 per square foot for the property.

The price is because of the consulate tag attached to it, said a property expert who confirmed the deal. “Properties that house foreign embassy dignitaries are in great demand and fetch a good price,” the expert said.

Altamount Road is among the most expensive areas in the country and houses several industrialists and official residencies of top bureaucrats in the city.

A famous landmark in the area is Antilia – the residence of Reliance Industries chief Mukesh Ambani. HTC