One of India’s top firm sold a Worli flat on August 18, for Rs 6.14 crore. The firm had bought the flat just 9 months ago for Rs 9.60 crore.

By Varun Singh

Whether this is an indication of realty prices crashing, it will be hard to predict. But we have a live example of a top firm in the country that sold a flat at Rs 4.36 crore cheaper than at what it had bought the flat.

The firm is amongst one of top leading firms and a big name in the country’s real estate and construction sector.

Shapoorji Palonji, Development Managers Pvt Ltd, on August 18, sold the flat located in Omkar 1973, Worli for Rs 6.14 crore.

The firm had bought the flat in November 2019, for Rs 9.6 crore from Elvera Realtors Pvt Ltd.

The flat is located on the 67th floor of the high-rise located in Worli. It measures 2606 sq ft.

When Shapoorji Palonji had bought the flat it was above the ready reckoner cost of Rs 9.29 crore and paid Rs 57.63 lakh as stamp duty.

On August 18, when the flat was sold by the firm for Rs 6.14 crore, the ready reckoner cost was Rs 9.01 crore.

The stamp duty paid last week for the registration of the flat Rs 45.10 lakh.

Also Read: Reduce prices to survive or suffer: Goyal to builders

Along with the flat the buyer also received two car parks on the Level P-6 of the high rise.

A detailed email sent to the PR representatives handling Shapoorji Palonji got us no response on why the flat was sold at such less a price.

This won’t be the first case in the recent past, where the flat owner sold the flat at a cheaper price.

Earlier this month, a top builder sold his own flat located in South Mumbai at less too.

The flat sold at lesser price was owned by builder Haresh Mehta of Rohan Lifescapes and his son Manav Mehta.

He sold, the flat for Rs 16 crore, while the ready reckoner rate of the flat itself is Rs 20.78 crore for want of liquidity.

Also Read: Builder Sells SoBO Flat At Less, For Want Of Liquidity

Leave a Reply
You May Also Like

Residential demand in Mumbai increases 15.2 percent

By Varun Singh Housing demand (searches) in Mumbai grew 15.2% while supply…

In 2021, Housing Sales in Top 7 cities expected to rise by 30% against 2020

In 2021, housing sales in the top 7 cities are expected to…

Flex space in Real Estate to cross 60 mn sq ft by 2023

On-demand spaces and satellite offices to drive flex space demand By Varun…

What is making your Homes Expensive?

Homes in new projects are becoming expensive, what is leading to this…