Metro Brand Promoters Acquire 5 Premium Apartments in Palais Royale, Lower Parel
Promoters of Metro Brand Ltd. have recently secured five luxurious apartments in the prestigious Palais Royale, Lower Parel, for a total value of Rs 405 crore. Each property comes with five car parkings and a per square foot (PSF) rate ranging from Rs 1,0
MumbaiLuxury ApartmentsPalais RoyaleLower ParelMetro Brand LtdReal Estate MumbaiJan 01, 2025
acquiring a total of five luxurious apartments in the prestigious Palais Royale, Lower Parel.
According to registration documents accessed by IndexTap.com, the total value of these transactions amounts to a staggering Rs 405 crore.
The initial two deals, previously reported, saw Ziya Malik and Alisha Rafik Malik each purchasing apartments at the esteemed Palais Royale for Rs 81 crore each.
These transactions, dated December 20, 2024, involved the acquisition of Flat No.
61, South East, and Flat No.
61, North East, with areas of 7,687 sq.
ft.
and 7,672 sq.
ft., respectively.
Both properties include five car parkings, and the per square foot (PSF) prices were Rs 1,05,366 and Rs 1,05,579.
Following these initial purchases, three additional transactions were recorded, further solidifying the presence of Metro Brand Ltd.'s promoters in this luxurious development.
On December 23, 2024, Farah Rafik Bhajni purchased Flat No.
61, South West, also measuring 7,687 sq.
ft.
and including five car parkings, at a PSF rate of Rs 1,05,366.
Subsequently, on December 24, 2024, Shabina Malik Hadi acquired Flat No.
61, North West, with an area of 7,672 sq.
ft., five car parkings, and a PSF rate of Rs 1,05,579.
The most recent transaction was recorded on December 26, 2024, when Zara Rafik Malik purchased Flat No.
62, North West, which spans 7,672 sq.
ft.
and includes five car parkings, at a PSF rate of Rs 1,05,579.
Each of these transactions involved a substantial stamp duty of Rs 4.05 crore, emphasizing the significant investment made by the promoters of Metro Brand Ltd.
The total agreement value for all five apartments now stands at Rs 405 crore.
These acquisitions highlight the continued interest and investment in Mumbai's luxury real estate market, particularly in prime locations like Lower Parel.
Palais Royale, renowned for its opulence and state-of-the-art amenities, remains a coveted address for the city's elite.
Metro Brand Ltd.
is a leading real estate and infrastructure company known for its premium projects and strategic investments in key locations across India.
The company's commitment to luxury and quality is evident in its recent acquisitions, which further cement its position in the high-end real estate market.
Frequently Asked Questions
Who are the promoters of Metro Brand Ltd. that made the purchases in Palais Royale?
The promoters of Metro Brand Ltd. that made the purchases in Palais Royale include Ziya Malik, Alisha Rafik Malik, Farah Rafik Bhajni, Shabina Malik Hadi, and Zara Rafik Malik.
What is the total value of the five apartments purchased in Palais Royale?
The total value of the five apartments purchased in Palais Royale is Rs 405 crore.
What is the per square foot (PSF) price of the apartments?
The per square foot (PSF) price of the apartments ranges from Rs 1,05,366 to Rs 1,05,579.
How many car parkings are included with each apartment?
Each apartment includes five car parkings.
What is the significance of Palais Royale in Mumbai's real estate market?
Palais Royale is a prestigious and luxurious residential development in Lower Parel, Mumbai. It is renowned for its opulence and state-of-the-art amenities, making it a coveted address for the city's elite.
Related News Articles
Prestige Estates Launches QIP to Raise Up to Rs 5,000 Crore
Bengaluru-based Prestige Estates is one of the leading developers in the country, with a significant presence in the South India market.
Bajaj Housing Finance IPO: Can BHFL Deliver on its Premium Valuation?
BHFL plans to increase its market share through deepening relationship with existing customers, onboarding new customers and expanding to newer geographies to build granular portfolio with reduced concentration risk.
CIDCO's Landmark MoUs: A Major Economic Boost for Navi Mumbai and Maharashtra
CIDCO has signed several landmark MoUs at the World Economic Forum in Davos, Switzerland, significantly boosting economic growth in Navi Mumbai and Maharashtra. These agreements include investments in education, entertainment, real estate, and logistics,
Swiggy Pledges to Invest Up to Rs 1,000 Crore in Scootsy Logistics for Expansion
Swiggy, the leading food delivery platform, has announced a significant investment of up to Rs 1,000 crore in Scootsy Logistics, its delivery partner, to boost its expansion. This move is aimed at enhancing the efficiency and reliability of the delivery n
The 1993 Mumbai Serial Blasts: A Turning Point for India's Financial Capital
On March 12, 1993, a series of coordinated bomb blasts in Mumbai left a lasting impact on the city, reshaping its social, economic, and political landscape.
5 Key Points About the Adani Group's Motilal Nagar Redevelopment in Mumbai
Discover the major highlights of the Adani Group's latest real estate project in Motilal Nagar, Mumbai. This redevelopment promises significant improvements and modern amenities.