Utpal Sheth's Luxury Buy: Rare Enterprises CEO Purchases ₹123 Crore Sea-View Apartment in Worli
Mumbai's real estate market is booming, with South and Central Mumbai leading the charge. Utpal Sheth, CEO of Rare Enterprises, has just purchased a luxurious sea-view apartment in Worli for ₹123 crore.
Mumbai Real EstateLuxury ApartmentsUtpal ShethRare EnterprisesOberoi Three Sixty WestReal Estate NewsSep 21, 2024
The apartment, located on the 54th floor of the prestigious Oberoi Three Sixty West, boasts an impressive 15,795 square feet of usable area, including a balcony of 884 square feet. Sheth made the purchase jointly with two family members.
According to reports, the acquisition was finalized on September 15, with a stamp duty payment of approximately ₹7.40 crore. The luxury apartment was bought from Skylark Buildcon and Moon Rays Realty, part of the Oasis Realty joint venture, which has developed the Oberoi Three Sixty West project.
The project is a mixed-use development, featuring not only luxury residences but also The Ritz-Carlton Hotel. The deal comes with other perks, including seven parking slots within the tower.
South and Central Mumbai have been at the forefront of the real estate surge, attracting numerous high-profile buyers, including industrialists, corporate leaders, and celebrities. The area's proximity to the city's business hubs, luxury amenities, and stunning sea views make it a sought-after destination for the rich and famous.
With this purchase, Sheth joins the ranks of other high-net-worth individuals who have invested in luxury properties in the area. Rare Enterprises, the company he leads, has been making waves in the business world, and this purchase is a testament to Sheth's success.
The Mumbai real estate market is expected to continue its upward trend, with luxury properties like Sheth's new apartment driving demand and pushing prices higher.
Rare Enterprises is a leading investment firm founded by Rakesh Jhunjhunwala and Utpal Sheth. The company has invested in various sectors, including technology, healthcare, and finance.
Frequently Asked Questions
Who purchased the ₹123 crore sea-view apartment in Worli?
Utpal Sheth, CEO of Rare Enterprises
Where is the apartment located?
54th floor of the Oberoi Three Sixty West in Worli, Mumbai
What is the size of the apartment?
15,795 square feet of usable area, including a balcony of 884 square feet
Who developed the Oberoi Three Sixty West project?
Oasis Realty joint venture, which includes Skylark Buildcon and Moon Rays Realty
What is the expected trend for the Mumbai real estate market?
The market is expected to continue its upward trend, driven by demand for luxury properties
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