Mumbai Real Estate: Luxury Bungalow in Santacruz West Sells for Rs. 164 Crore
India, December 12 - In a landmark real estate deal, a subsidiary of luxury real estate developer ZYJ Builders and Developers has acquired the Dwarka Bungalow in Santacruz West for Rs. 164 crore, as confirmed by documents accessed by data analytics firm Zapkey.
The property, known as Dwarka Bungalow, is located on Linking Road, Santacruz West. It spans an impressive 1,266.7 square meters (approximately 13,629 square feet) and includes a ground-plus-one structure, along with a garage and auxiliary sheds. The company paid a stamp duty of Rs. 9.8 crore, as indicated in the official documents.
ZYJ Estates LLP, a subsidiary of ZYJ Builders and Developers, completed the acquisition through its partner, Zafar Yunus Zaveri. Zaveri is a well-known figure in the real estate and architectural circles, associated with Yunus Jhaveri Architects. This acquisition aligns with ZYJ Builders and Developers' focus on luxury and premium real estate projects in Mumbai.
The transaction underscores the growing interest in high-end properties in Mumbai's prime locations. Santacruz West, in particular, has been a hotbed for luxury real estate due to its strategic location, excellent connectivity, and the presence of several high-net-worth individuals. The acquisition of the Dwarka Bungalow is expected to set a new benchmark for property values in the area.
ZYJ Builders and Developers has a reputation for developing premium residential and commercial projects in Mumbai. The company's portfolio includes several luxury apartments and villas, often designed to cater to the discerning tastes of affluent buyers. The acquisition of the Dwarka Bungalow is likely to be developed into a high-end residential or mixed-use project, further enhancing the area's appeal to luxury property seekers.
The real estate market in Mumbai has been resilient, despite economic challenges and the ongoing global pandemic. The city continues to attract significant investments, particularly in the luxury segment. Developers are increasingly focusing on creating bespoke, high-quality projects that offer unique living experiences and premium amenities.
The acquisition of the Dwarka Bungalow by ZYJ Builders and Developers is a testament to the company's strategic vision and commitment to delivering exceptional real estate solutions. As the real estate landscape in Mumbai continues to evolve, such high-profile transactions are expected to drive further growth and development in the sector.
For potential buyers and investors, the acquisition of the Dwarka Bungalow signals a positive trend in the luxury real estate market. It highlights the enduring appeal of prime locations and the willingness of developers to invest in premium properties that offer long-term value and returns.
In conclusion, the Rs. 164 crore deal for the Dwarka Bungalow in Santacruz West is a significant milestone in Mumbai's real estate market. It reflects the ongoing demand for luxury properties and the strategic investments being made by developers to meet this demand. As the city continues to develop, such high-profile acquisitions are likely to set new standards for property values and development in Mumbai's most sought-after neighborhoods.
