Faraz Nawab Malik, son of politician and minister in the MVA government Nawab Malik has shelled out Rs 9.95 crore to buy an apartment in Bandra. The reason for the shifting of the house is being attributed to flooding in Kurla.
By Varun Singh
Faraz Nawab Malik, son of minister Nawab Malik, recently shelled out Rs 9.95 crore to buy an apartment in Mumbai’s Bandra west.
The reason behind the shifting is being attributed to flooding in Kurla which has become an yearly phenomenon and where the Malik’s currently reside.
The flat is located on the 19th floor of the building named 81 Aureate in Bandra west.
The documentation in regards to the flat was carried out on March 31, 2021 while it was registered on July 30, 2021.
According to documents accessed by SquareFeatIndia, the total area of the apartment is 3889 square feet including a terrace that measures 1,653 square feet.
Stamp duty of Rs 29.89 lakh was paid for the registration of the apartment. Till March 31, 2021, the stamp duty payable for registration of apartments was 3%. Stamp duty was hiked to the regular rates from April 1, 2021.
When contacted Faraz Nawab Malik, he confirmed the purchase. He said, “This flat is for family, we will be moving here (Bandra) from Kurla. Every year there’s a flooding in Kurla and hence the decision to shift.”
Along with the flat, the new owners will have an access to three car parks in the building.
Nawab Malik is the minister in the Uddhav Thackeray led Maha Vikas Aghadi (MVA) government in the state of Maharashtra. Chief Minister Uddhav Thackeray is also the president of Shiv Sena which has been in power in the BrihanMumbai Municipal Corporation, the civic body of the city.
Faraz Nawab Malik even stressed on the point that the Bandra house has been bought on a loan.
Also Read: Prajay Praful Patel sells Worli Flat for Rs 45 Crore
