Luxury Real Estate in Mumbai Sees Boost as Kishore Mishrilal Bang Acquires Two High-End Apartments
Kishore Mishrilal Bang, promoter of Nirmal Bang Securities, has acquired two luxury apartments in Mahalaxmi, Mumbai, for INR 45.69 crore, highlighting the growing demand for high-end real estate in the city.
Luxury Real EstateMumbaiMahalaxmiKishore Mishrilal BangNirmal Bang SecuritiesReal Estate MumbaiOct 03, 2024
The first apartment, located on the 30th floor of Tower 1 in the Raheja Modern Vivaria complex on Jacob Circle, boasts a carpet area of 2,891 sq ft and was acquired for around INR 25.95 crore. The second apartment, which is slightly smaller at 2,364 sq ft, was purchased for about INR 19.74 crore. This information was revealed through documents accessed via Zapkey.com.
This high-profile acquisition highlights the increasing attraction of luxury real estate in Mumbai, especially among influential business figures. The acquisition also reflects the ongoing growth in the luxury market and indicates a shift towards premium living spaces in sought-after locations, reinforcing Mumbai's status as a key player in the luxury real estate sector.
Raheja Modern Vivaria is an under-construction project encompassing 1 million square feet of development across a 3-acre land parcel. This project is being developed by K Raheja Corp’s residential division, K Raheja Corp Homes. As part of the agreement, Modern India will receive compensation for the land sale based on a percentage of the sales revenue.
The land parcel previously housed a private textile mill and is now being monetised by Modern India. The complete development of the project, for which the design and necessary approvals are already secured, is anticipated to be finished by 2028. This redevelopment not only revitalises the area but also contributes to the growing landscape of luxury living in Mumbai.
With plans in motion, it will likely attract further interest from buyers looking for high-end residences in this vibrant city. The acquisition of two luxury apartments by Kishore Mishrilal Bang exemplifies the strong demand for high-end real estate in Mumbai, particularly among influential business leaders. As the city continues to evolve, projects like Raheja Modern Vivaria not only enhance the urban landscape but also cater to the desires of affluent buyers seeking premium living spaces.
Frequently Asked Questions
Who acquired the two luxury apartments in Mahalaxmi, Mumbai?
Kishore Mishrilal Bang, promoter of Nirmal Bang Securities, acquired the two luxury apartments.
What is the total cost of the two apartments?
The total cost of the two apartments is approximately INR 45.69 crore.
What is the carpet area of the two apartments?
The first apartment has a carpet area of 2,891 sq ft, and the second apartment has a carpet area of 2,364 sq ft.
Who is developing the Raheja Modern Vivaria project?
K Raheja Corp’s residential division, K Raheja Corp Homes, is developing the Raheja Modern Vivaria project.
When is the project expected to be completed?
The project is expected to be completed by 2028.
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