Luxury Living: Marico MD Saugata Gupta Snaps Up Rs 36.4 Crore Apartment in Mumbai's Worli
Saugata Gupta, MD of Marico, buys 4372 sq ft apartment in Worli for Rs 36.4 crore, highlighting Mumbai's strong property market performance.
Mumbai Real EstateLuxury ApartmentMaricoSaugata GuptaWorliReal Estate MumbaiAug 09, 2024
The apartment, part of a super-premium residential project, offers stunning views of the city and boasts of top-notch amenities. Gupta, along with his wife Reema Sen, a banker, are joint owners of the property. The deal values the apartment at Rs 83,264 per sq ft, making it one of the most expensive properties in the area.
As part of the deal, the buyers will also get exclusive access to five car parking slots, a rare luxury in Mumbai's crowded streets. The buyers have paid Rs 2.18 crore as stamp duty for the registration of the deal, which took place on July 29.
Gupta's purchase is a testament to Mumbai's strong property market performance. Residential property sales in the top eight cities have soared to an unprecedented high in 2023, fueled by strong demand across mid-income, premium, and luxury segments. Mumbai, as the country's largest and priciest real estate market, has spearheaded this trend, breaking new records in property transactions and achieving exceptional performance in July.
The city's property market has seen registration numbers exceed the 10,000 mark every month in the first seven months of 2024. Moreover, the market has maintained robust momentum with year-on-year growth in registrations for 12 consecutive months since August 2023, underscoring sustained buyer confidence and market resilience.
About Marico
Marico is an Indian multinational consumer goods company that operates in the beauty and wellness space. The company is known for its popular brands such as Parachute, Saffola, and Nihar.
Information
Mumbai's Worli locality is known for its upscale residential projects, commercial complexes, and scenic sea views. The area has seen significant development in recent years, with several luxury projects coming up.
Birla Estate is a real estate company that has developed several premium residential projects in Mumbai.
Frequently Asked Questions
Who is Saugata Gupta?
Saugata Gupta is the managing director and chief executive officer of Marico.
Where is the luxury apartment located?
The luxury apartment is located in Mumbai's Worli locality.
What is the size of the apartment?
The apartment is spread over 4,372 sq ft.
How much did Saugata Gupta pay for the apartment?
Saugata Gupta paid Rs 36.4 crore for the apartment.
What is the stamp duty paid for the registration of the deal?
The buyers paid Rs 2.18 crore as stamp duty for the registration of the deal.
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