Luxurious Real Estate Deals Have
Increased Significantly In Mumbai
Theultra-eliteclassofIndianinvestorsisplacingalargewageronluxuryhousesin Mumbaidespitehighstamptaxes,extravagantpricetags,andVVIPtitles.Two similaracquisitionshavebeencompletedinthepastweek.Whilethefamilyofactor JanhviKapoorpaidRs65croreforalavishduplex,MadhavAggarwalofSajjanIndia paidRs153croreforahouseinWorli.FullDetailsareprovidedbelow.
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ThepriceofrealestatehasincreasedinMumbai'supscalemicromarketsofWorli, Juhu,andBandra.Bollywoodactors,businessmen,andcorporatefigureshaveall investedinMumbai'srealestatemarket.Despiterisinginterestrates,Mumbai's luxuryrealestateindustryisexpandingtonewheights.ItisoneofIndia'sbiggest andmostexpensiveresidentialrealestatemarkets.
Jahnvi Kapoor and her family own a large Bandra duplex.
TheactorJahnviKapoorpaidRs65crorefora6,421squarefoothomeinPaliHill withherfatherBoneyKapoor&sisterKhushiKapoor.Theapartmenthasaprivate entranceandissituatedonthefirst&secondfloorsofabuilding.Agardenanda poolarealsoincluded.Also,theKapoorfamilywillhaveaccesstofiveparking spaces.
ThepriceofthecontractworksouttoRs75,000persquarefootonabuilt-uparea basis.3.90croreofstampdutywaspaidforthetransaction.Also,thepurchasers willreceiveanundivided15.2%shareoftheland'srightsforthebuilding'slocation.
Purchasing a magnificent duplex in Worli is Madhav Aggarwal
OwnerofSajjanIndia,MadhavPrasadAggarwal,paidRs153croreforasea-facing duplexinWorli,makingitoneofthelargestrealestatetransactionsinMumbaithis year.OnDr.AnnieBesantDrive,theapartmentispartofthe360Westhousing development.Onthe24th&25thfloorsofthehousingtower,theresidence occupies15,337squarefeet.OneofthecostliestpropertypurchasesinIndiathis year,withaper-square-foottransactionpriceofaboveRs1lakh.
AggarwalpurchasedthepropertyfromOasisProperties,abuilderandmemberof theOberoiDevelopersGroup.TheyhavepaidmorethanRs9.18croreinstampduty fortheproperty,forwhichhiswifeisdesignatedasajointowner.
Recent agreements for luxurious homes in Mumbai
IGEIndiaPvtLtd,oneoftheDabriwalafamily'sinvestmententities,recentlypaidRs 151crorefortwosea-facingresidencesinWorli.AgarwalHoldingspaidRs332 croreforalmost2acresoflandinJuhuafewdayslater.Thestructureonthe1.72acretractofpropertymeasuresmorethan4,300squarefeet.
Popular Mumbai luxury real estate deals
KRahejaCorp.,ownedbyRavi&NeelRaheja,paidRs183croreinJune2022fora 25,000squarefoothomesituatedonanacreofpropertyinJuhu.Bollywoodactors havealsopurchasedopulentmansionsinMumbai'saffluentneighbourhoodslike Juhu.AfewexamplesincludeRajkummarRao,whospentRs44croreona3,000 squarefootultra-luxuryapartmentinJuhu,andRanveerSingh,whospentRs119 croreonaluxuriousquadruplexapartmentwithaseaviewinBandraWest, Mumbai.
How is the real estate market perform in 2022?
Theresidentialrealestatemarketappearspositivein2022asthepandemic circumstanceshavelargelyleftthenation.Industryrecordsshowthatduringthe firstquarterof2022,Mumbaisawthesalesof306luxuryresidencesforatotalofRs 4,877crore.Manyhigh-endapartmenttransactionsinvolvingrenownedfigureslike RadhakishanDamani,MotilalOswal,&JitenDoshiwerenotedinMumbaiin2021.
What are the main factors influencing the demand for luxury housing in India?
ThemajorityofthosewhopurchaseluxuryresidencesinIndiaareextremely wealthypeople.Theyspendheavilyinrealestateinordertomaximizecapitalgains. Ifonereinveststheearningsfromthisearninginproperties,Section54Fofthe IncomeTaxpermitssavingoncapitalgains.
TheincreasedcustomerdemandforsuperiorfacilitiesandcheapHomerateshave alsobeenmajorfactorsinthesalesofhigh-endbuildings.Theinterestrateson homeloansinIndiaarestilllowerthantheywerepriortoCOVID,whichisakey factordrivingthetrenddespitethetwostraightincreasesinreporatesthisyear.
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