Real Estate Mumbai
Luxury Living: Nadir Godrej Family Acquires Three Sea-View Apartments in Malabar Hill for Rs 180 Cr
By GeoSquare News Desk · Published 2024-06-17
Nadir Godrej, Chairman of Godrej Industries, and his family have made a notable investment in Mumbai's luxury real estate market by acquiring three sea-view apartments in Malabar Hill for a whopping Rs 180 crore. The apartments, located in the under-construction super-luxury residential project Ruparel House, offer unobstructed views of the Queen's Necklace and span a total area of 13,836 square feet, including 1,029 square feet of exclusive deck and covered balcony.
The Godrej family, part of the promoter family of the Godrej Group, has paid Rs 10.79 crore as stamp duty alone for the registration of the deals, which took place on June 12. As part of the deal, the buyers will also get exclusive access to 12 car parking slots in the exclusive tower, which comprises 14 residential levels, each with a single apartment per floor. The project is expected to be delivered by December 2027.
The property deal, including stamp duty and GST, is valued at Rs 1.44 lakh per square foot, making it one of the most expensive transactions in the country. The Mumbai real estate market has been witnessing a surge in demand, with sales of residential properties scaling an all-time high in 2023. South and central Mumbai, home to India's most expensive apartments, have been driving this performance, with many large-ticket record-setting transactions involving industrialists, CXOs, actors, and sports personalities in the last few years.
Information Godrej Industries is a part of the Godrej Group, a leading Indian conglomerate with a presence in various sectors, including real estate, consumer goods, and chemicals. JSW Group is a multinational conglomerate with a strong presence in the steel, energy, and infrastructure sectors.
R House Realty is a real estate development subsidiary of the JSW Group, focused on developing luxury residential projects in prime locations across India.