Luxury Property Deals in Mumbai: Lloyds Group Promoter's Family Buys Triplex for ₹107 Crore
Mumbai's luxury real estate market sees a lucrative deal as Lloyds Group promoter's family purchases a triplex apartment for ₹107 crore in Worli area.
Mumbai Real EstateLuxury PropertyLloyds GroupSugee GroupTriplex ApartmentReal Estate MumbaiJul 12, 2024
The triplex, situated on the 25, 26, and 27th floors, has been purchased at a per sq ft rate of ₹81,133. The buyers have paid a stamp duty of ₹6.42 crore and a registration fee of ₹30,000 for the transaction.
Lloyds Group is a diverse business entity involved in various sectors, including metals and energy, luxuries, realty development, and engineering works. The business operations include importing, exporting, and dealing in iron and steel, alloy steel scrap, steel tubes, pipes, and wires.
Mumbai's luxury real estate market has witnessed several high-profile deals in recent times. In a separate transaction, 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.
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.
According to a report by India Sotheby's International Realty and CRE Matrix, 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. 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.
Information
Sugee Group is a real estate developer involved in various projects in Mumbai. Lloyds Group is a business entity with diverse interests in metals and energy, luxuries, realty development, and engineering works.
Lloyds Group is a leading business entity with a presence in various sectors, including metals and energy, luxuries, realty development, and engineering works. The group has a strong presence in the Indian market and is known for its business acumen and entrepreneurial spirit.
Frequently Asked Questions
Who purchased the triplex apartment in Mumbai's Worli area?
Abha Gupta, wife of Lloyds Group chairman Mukesh Gupta, and their son Shreekrishna Gupta.
What is the value of the triplex apartment?
₹107 crore.
What is the per sq ft rate of the triplex apartment?
₹81,133.
What is the total sales value of luxury homes in Mumbai during the January to June period?
₹12,300 crore.
What is the annual growth rate of the secondary (resale) market in Mumbai?
38%.
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