Luxury Real Estate in Mumbai Hits New Heights with Record-Breaking Deal
Apco Infratech breaks records with its Rs 155 crore purchase of a luxury triplex apartment in Mumbai's Pali Hill, setting a new benchmark in India's residential property market.
Luxury Real EstateMumbai Property MarketApco InfratechAshar GroupResidential Property SalesReal EstateJul 25, 2024
The deal, concluded on Tuesday, saw Apco Infratech paying a stamp duty of Rs 9.30 crore for the registration. This transaction is a testament to the booming residential property market in India, particularly in Mumbai. The city has led the surge in residential property sales across the top eight cities, hitting an all-time high in 2023, driven by strong demand in the mid-income, premium, and luxury segments.
Apco Infratech, a leading highways and urban infrastructure developer, has an extensive portfolio that includes 11 Design Build Finance Operate and Transfer (DBFOT) projects, and manages multiple highways projects across India and in Nepal. The company recently secured contracts for two packages of the Mumbai Coastal Road North Project.
The sale of this luxury triplex apartment is indicative of the growing confidence in the Indian residential property market, particularly in Mumbai. The city has experienced year-on-year growth in property registrations for 11 consecutive months since August 2023, with property deal registrations surpassing the 10,000-mark each month for the first six months of 2024.
Information Apco Infratech is a renowned infrastructure development company that has made significant contributions to India's highways and urban infrastructure landscape. Ashar Group is a prominent real estate developer in Mumbai, known for its upscale residential projects.
Apco Infratech is a leading infrastructure development company in India, with a strong portfolio of highways and urban infrastructure projects. Ashar Group is a well-established real estate developer in Mumbai, recognized for its luxurious residential projects.
Frequently Asked Questions
What is the value of the triplex apartment purchased by Apco Infratech?
The value of the triplex apartment is Rs 155 crore.
Where is the triplex apartment located?
The triplex apartment is located in Pali Hill, Bandra, Mumbai.
What is the size of the triplex apartment?
The triplex apartment spans 9,527 sqft.
Who developed the residential tower where the apartment is located?
The residential tower, The Legend, was developed by Ashar Group.
What is the per sq ft value of the property?
The per sq ft value of the property is Rs 1.62 lakh.
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