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Lloyds Group promoter’s family buys property in Mumbai for ₹107 crore
The ₹107-crore flat is located in the Sea Krest building, an under construction apartment by Sugee Group, in Mumbai’s Worli area
Lloyds Group chairman Mukesh Gupta’s wife Abha Gupta and son Shreekrishna Gupta have purchased a triplex worth ₹107 crore in Worli, Mumbai, according to the property registration documents accessed by Zapkey.
The triplex is located on the 25, 26 and 27th floors and measures 13,207 sq ft. The apartment has been purchased at a per sq ft rate of ₹81,133, according to the documents registered on June 27, 2024.
The apartment is located in the Sea Krest building, an under construction project by Sugee Group, which is also the seller in this transaction.
The apartment comes with 16 car parking spaces.
The buyers have paid a stamp duty of ₹6.42 crore and a registration fee of ₹30,000 for the transaction, according to the documents.
Also Read: Housing sales down 6% in April-June quarter; new supply remains flat in top 8 cities: PropTiger
Lloyds Group is involved in businesses such as Lloyds Metals and Energy, Lloyds Luxuries, Lloyds Realty Developers Limited and Lloyds Engineering Works. The business operations include importing, exporting, and dealing in iron and steel, alloy steel scrap, steel tubes, pipes, and wires.
A query sent to Sugee Group and Mukesh Gupta did not get any response.
Mumbai’s luxury real estate deals
In a recent deal registered on July 1, Priyanjali Mariwala, who leads the ASCENT Foundation, a not-for-profit organization of Harsh Mariwala, chairman of Marico, had bought an apartment for ₹65.25 crore in Sunteck Signature Island, Bandra Kurla Complex, in Mumbai.
Also Read: Ronit Roy and wife Neelam Roy purchase an apartment for ₹18.94 crore in Mumbai's Versova
In another luxury apartment deal in Worli area of Mumbai, Rajesh Labhubhai Lakhani, a director at a real estate firm Woodstock Estate LLP and his family members, had bought a sea-view apartment in a super premium residential tower in Mumbai’s posh Worli area for about ₹97.40 crore in May 2024.
Mumbai real estate market saw sales of luxury homes, priced ₹10 crore and above, touch ₹12,300 crore during the January to June period which was an 8% increase over the first half of the 2023 calendar year, according to a report by India Sotheby's International Realty and CRE Matrix released on July 11.
Also Read: Mumbai’s luxury housing sales up by 8% in H1 2024; touch ₹12,300 crore: Report
The report revealed that sales in Mumbai’s primary luxury residential segment where apartments are directly sold to homebuyers or investors by the developer contributed to a total of ₹8,752 crore in sales, while the secondary (resale) market made its highest-ever half-yearly contribution of over ₹3,500 crore during the period under review, marking a 38% annual growth.
