Cricketer Harbhajan Singh Sold his Andheri House on November 18, 2021, but cold make a profit of only ₹52 lakh in the deal.
By Varun Singh, SquareFeatIndia.com
Former International Cricketer Harbhajan Singh has sold his Andheri Apartment.
Harbhajan Singh sold the apartment to JBC International LLP for a whopping Rs 17.58 crore.
Harbhajan Singh had bought this apartment in December 2017 for ₹14.5 crore.
So how am I saying he earned only ₹52 lakh as profit when the rate at which he had bought the apartment and at which he sold is so huge?
I shall answer it in detail below, but let’s have a look at the details of the apartment.
According to registration documents accessed by SquareFeatIndia provided by Zapkey.com the total carpet area of the apartment is 2830 square feet.
The apartment that Harbhajan Singh sold is located on the 9th floor of G Wing of the building Rustomjee Elements. The building received an OC in September 2018.
The documents in regard to the sale of the apartment was registered on November 18.
A stamp duty of Rs 87.9 lakh was paid for the registration of the apartment’s sale deed.
Even though Harbhajan Singh had himself bought the apartment in December 2017, he had registered the deal in March 2018. The total consideration that the cricketer had to pay to the builder was ₹14.5 crore.
Harbhajan Singh when bought the apartment from the developer had paid ₹10.12 crore while the remainder of ₹4.33 crore & ₹2.42 crore outstanding was balance.
In this deal, according to registration documents, Harbhajan Singh received ₹10.64 crore vide real time gross settlement directly in his account.
While the remainder amount the purchaser paid as the outstanding and the money due to the developer.
Thus when you calculate Harbhajan who had paid ₹10.12 crore to the developer while buying the apartment received ₹10.64 crore from the purchaser, a profit of ₹52 lakh only.
When contacted Neeraj Goenka, partner of JBC Internarional LLP, for his comment he refused to give any comments.
The buyer will have access to four car parking spaces in the building along with the apartment.
When contacted Harbhajan Singh, for a comment he didn’t reply either.