At Rs 1.66 lakh/sq ft India’s most expensive real estate deal of 2021 was registered in Mumbai. This deal took place in a building located on Mumbai’s most expensive street- Peddar Road.

By Varun Singh

Rs 1.66 lakh/sq ft. Yes read it right, this is what recently a homebuyer paid to acquire a luxury apartment in a building located on Mumbai’s most expensive street- Peddar Road.

Real estate is a very different world, there are homes available in different categories.

From affordable houses to luxury and premium luxury everything is available, depending on the spending capacity of the homebuyer.

It is when aspirations and ambitions meet luxury, real estate record is set.

In mid-February India’s most expensive real estate deal of 2021 was signed in Mumbai.

Mumai’s most expensive street Peddar Road

According to documents available with two duplexes were bought in the building.

The duplexes are located on the 27th and the 28th habitable floor of the building.

Documents show that the apartmetns were registered on February 16, 2021.

The duplexes are in the building 33 South, Peddar Road, which in December had set a record.

In December 2020, the Motilal Oswal Family Trust had bought apartments in the same building for Rs 101 crore.

This was amongst one of the costliest real estate deal priced at Rs 1.48 lakh per sq ft that took place in 2020.

Coming back to the latest deal, which was sold for Rs 1.66 lakh per square feet, the seller is Sameer Bhojwani.

The buyer is Jiten Doshi and Hetal Doshi, Jiten is a reputed and well known name in the Capital Markets.

The Doshi’s paid a total of Rs 61 crore for both the duplexes.

While one duplex measures 170 square meters, the other one measures 169.69 square meters.

The combined area of both the apartment is 339.76 square meters which translates into 3,657 square feet.

Thus when the area is divided by the total consideration of Rs 61 crore, the per square rate that is derived stands at Rs 1,66,803. Which is Rs 1.66 lakh/sq ft.

Along with the apartments, the Doshi’s will also have access to several car parks available in the building.

For the registration of the duplexes a total of Rs 1.83 crore was paid as stamp duty.

Gopal Maheshwari, a senior realtor based out of South Mumbai says, Peddar Road, Carmichael Road, Altamount Road, Warden Road is a location which demand a premium.

“Peddar Road is amongst one of the World’s costliest streets, and the adjoining streets, including Carmichael and Altamount Road have buildings where deal do take place at such high rates,” said Maheshwari.

A detailed message sent to Jiten Doshi, got us no response.

Some Previous Big Deals

Business tycoon Anurang Jain bought an apartment in Carmichael Residencies in 2020 for Rs 1.56 lakh per square feet.

The Daftary’s bought an apartment in 2020 in Carmichael Residencies for Rs 1.58 lakh per square feet.

The Motilal Oswal Family Trust paid Rs 1.48 lakh per square feet in 33 South, Peddar Road in 2020.

Sadbhav Land Pvt Ltd’s Arjun Betkekar paid Rs 1.13 lakh per square feet for a flat in Carmichael Residencies in January 2021

A flat in Dev Anand’s Anand Building in Bandra was sold for Rs 1.02 lakh per square feet.

Also Read: India’s costliest realty deal of 2020 at Rs 1.56 lakh psf

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