Nadir Godrej purchases three apartments for ₹180 crore in South Mumbai's posh Malabar Hill

The three apartments purchased by Nadir Godrej of Godrej Industries in South Mumbai come with 12 parking spaces and have attracted a stamp duty of ₹10 crore

Published on: Jun 17, 2024, 17:27:57 IST

By Mehul R Thakkar

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Nadir Godrej of Godrej Industries has purchased three luxury apartments for ₹180 crore in Ruparel House, Malabar Hill, in south Mumbai, according to documents accessed by Zapkey.com

The founding family of Godrej Group, which spans from soaps and home appliances to real estate, recently reached an agreement to split the conglomerate, with Adi Godrej and his brother Nadir Godrej keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai.

The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group earlier.

The seller of the property is R House Realty Pvt Limited (JSW Realty). The transaction was registered on June 12, 2024.

Also Read: Mumbai property registrations rise 22% Y-o-Y in May; stamp duty collections up by over 24%

The three apartments priced at ₹59.95 crore each come with 12 parking spaces, according to the documents.

Nadir Godrej has also paid over ₹10 crore as stamp duty towards the purchase of the three apartments along with ₹90,000 as registration fees, the documents showed.

According to the documents, the three apartments measure 13,836 sq ft (carpet) which takes the size of each of the three apartments to 4,610 sq ft (carpet).

Also Read: Mumbai real estate: All that you need to know about ‘bulk’ property deals being registered in the financial capital

An email query sent to Godrej Industries and JSW Realty did not get any response.

Malabar Hill is one of the costliest residential area in the country

Malabar Hill, an upscale residential area in Mumbai known for its Hanging Gardens, is one of the costliest residential areas in the country. Other posh localities in South Mumbai include Walkeshwar, and Cuffe Parade. According to local brokers, the per sq ft rate in Malabar Hills is anywhere around ₹1 lakh per sq ft and above.

Also Read: Ultra-luxury Malabar Hill flats fetch ₹369.55 crore

South Mumbai, especially Malabar Hill, is home to several old buildings and heritage bungalows. The micro-market is witnessing an increasing number of redevelopment projects being taken up post Covid-19. Several high net worth individual (UHNI) reside in the area.

Also Read: Kandoi Fabrics, directors buy four apartments in SoBo project for ₹217 crore

ABOUT THE AUTHOR
Mehul R Thakkar
Mehul R Thakkar is a Mumbai-based journalist who closely tracks the city’s ever-evolving real estate landscape. He believes that Mumbai presents a unique reality that, while Mumbaikars deeply aspire to own a home in the city of dreams, many spend little actual time living in it due to long commutes and demanding work lives. With over 11 years of experience in journalism, I have reported across a wide spectrum of beats, including real estate, housing, infrastructure, aviation, and education. I have also extensively covered the workings of India’s wealthiest civic body, the Brihanmumbai Municipal Corporation (BMC), providing insight into the policy, governance, and urban planning decisions that directly influence Mumbai’s growth. Before joining Hindustan Times, I worked in fast-paced digital and print newsrooms, including Moneycontrol.com and Deccan Chronicle, as well as national dailies such as The Asian Age and DNA. Outside the newsroom, I am an avid weather tracker, a fan of spy thrillers in both books and films, and a keen follower of international affairs.Read More

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