According to data provided to SquareFeatIndia.com by Propstack, a real estate data firm, the deal was signed on February 9.

The deal was signed between Bai Kabibai & Hansraj Morarji Charity Trust and Arogya Bharti Health Parks Pvt Ltd & Arogya Bharti Hospitals Pvt Ltd.

The documentation was carried out on February 8, 2022.

The total area as per the documents is 91,824.71 sq meters.

A stamp duty of Rs 32.38 crore was paid for the registration of the documents with the state’s Inspector General and Registration department.

This would be the second biggest realty deal that was signed in the city in February, in the first week of February when D Mart owner Radhakishan Damani, his immediate family and close associates purchased 28 units in a bulk deal at discounted rates in Oberoi Realty’s luxury project Three Sixty West at Worli for a total of Rs 1,238 crore.

Also Read: Mumbai generates Rs 1k Crore Stamp Duty in Feb, a first in FY 22-23

The post Realty Deal of Rs 539.83 Cr in Andheri appeared first on Square Feat India.

The need for a safe home away from the high-density hotspots, along with capital appreciation and rental income, appear to be key factors boosting the second homes’ segment. One such location in this segment that has emerged in the past few years is Alibaug where developers are now specializing in building high-end villas for High Networth Individuals (HNIs).

A roll-on-roll-off (Roro)-cum-passenger ferry service is available between Mumbai and Mandwa near Alibaug. It takes about 45 minutes to reach Alibaug from Mumbai. The ferry was launched in 2020 and can accommodate 145 cars and around 500 passengers. Just a few days back, a water taxi service was launched from Domestic Cruise Terminal at Mazgaon to Mandwa. The watertaxi – NAYAN XI – undertakes a total of six trips, three from each side. The operator Nayantara Shipping Private Limited is also awaiting clearance from the Maharashtra Maritime Board and Mumbai Port Trust to operate a similar service from Gateway of India.

Commenting from the demand perspective in Alibaug, Dr. Sachin Chopda, Managing Director, Pushpam Group said  “Earlier, the concept of investing in a second home or a farmhouse was popular only among the celebrities, HNI’s or the elite class. However, post-pandemic, the idea of a second home is being widely accepted by the middle and upper-middle class as well. Also the RoRo services and the recently launched water-taxis have cut down the distance between Mumbai and Alibaug making it more convenient to travel. Off late, there has been a lot of demand from the millennials or working professionals due to WFH or those having adopted a hybrid model, preferring to work in isolation, away from the hustle and bustle of the city. This also helps them to maintain a proper work-life balance where they can live in bigger homes in the lap of nature, spend quality time with their families and also ensure productivity at work.”

Last year Actor Juhi Chawla had bought a land parcel in Alibaug for Rs 1.89 crore, documents accessed by Zapkey.com showed. The property is spread across 0.75 acres and is located in Mapgaun. Also in September last year, Bollywood actors Deepika Padukone and her husband Ranveer Singh had bought a second home in Alibaug for Rs 22 crore. The bungalow was earlier owned by Rajesh Jaggi of The Everstone Group, sources said. According to a report in a leading English daily, Anushka and Virat purchased a luxurious farmhouse in Alibaug on the occasion of Ganesh Chaturthi [August 31]. As per the report, the house will be set up on 8 acres of land near Zirad, a village in Alibaug. The couple is reportedly spending Rs 19 crore on the farmhouse. In December 2021 last year, Indian cricketer Rohit Sharma bought land in the coastal town of Alibaug in Maharashtra’s Raigad district. According to sources, the land is around four acres and has been bought in the name of his wife Ritika Sajdeh. The land parcel bought is in Saral Mhatroli village of Alibaug taluka. As per the brokers, several celebrities and industrialists have bungalows in Alibaug. Many other celebrities and cricketers like Shah Rukh Khan, Sachin Tendulkar, Ravi Shastri and Ajit Agarkar too own weekend homes in Alibaug.

Homebuyers in Mumbai are looking for second homes in the range of Rs 2 crore to Rs 50 crore that are just about a 90-minute drive from the main city. During Covid-19, several high-net-worth individuals (HNIs) and young working professionals in vertical Mumbai have bought properties in nearby Alibaug, Karjat and Lonavala.

“Customers are looking at weekend homes as income generating assets. These homes are used around 30 to 40 days in a year. Buyers can rent these units on a per day basis and can generate good rental income. This trend is catching up and a lot of developers are giving this option to the buyers. This makes weekend homes a good short-term as well as a long-term investment,” adds Dr. Chopra, who heads a leading holiday homes development company.
Savills India’s recent survey concluded that almost 60 per cent of the respondents would like to invest in a second home within a gated community. Standalone farmhouses or bungalows are usually set in isolated locations, where maintenance and security are the prime concerns. Also, the shortage of electricity and damaged roads leading to the property add to the hardships. The gated communities come with diverse choices of configuration such as pool villas, resort apartments, row houses and along with all sorts of basic and exclusive amenities.

Additionally, the combination of remote working, increased affordability, the desire to diversify investments, and attractive interest rates on home loans are creating an excellent atmosphere for homebuyers to invest in second homes. Based on these favourable sentiment drivers, holiday homes in India are positioned for substantial expansion this year.

Also Read: Virat Kohli and Anushka Sharma buy Alibaug land

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In a renewal of lease deal EY India has renewed its lease for an office that is spread over 40,330 sq ft on an entire floor at commercial tower The Ruby in Dadar locality of Mumbai for the next 30 months.

As per documents provided by CRE Matrix, a real estate data analytics firm’ EY India will be paying a total of nearly ₹20 crore as rentals for this office during the entire tenure of 30 months. When calculated the the lease based on monthly rentals it translates to approximately ₹165 per sq ft.

Documents reveal that EY Services entered into an agreement of lease with Bhavana Holdings, for the property on the 17th floor of the commercial tower.

A security deposit of ₹5.43 crore towards the security deposit for the lease, has be deposited.

As part of the lease agreement, which was registered on September 5, the firm will also get access to 14 car parking slots in the building.

According to reports, EY has offices across 13 cities in India including Mumbai, New Delhi, Bangalore, Pune, Hyderabad, Kolkata, Chennai and Ahmedabad. In Mumbai region, the firm has a total of four offices in Lower Parel, Goregaon and Thane apart from the office space at The Ruby.

Also Read: Is this building near Sena Bhawan the Shinde Sena’s HQ?

The post EY India to pay ₹20 Crore rent for 30 months appeared first on Square Feat India.

By Varun Singh

The appetite for land acquisition continues unabated for developers and other entities in the post-pandemic world. Players with the financial wherewithal are eyeing prime land at key locations across India to deploy developments across real estate asset classes.

ANAROCK Research reveals that between January 2022 till date, various entities sealed at least 28 separate land deals cumulatively accounting for over 1,237 acres across the country. Of the total transacted land, at least 18 deals accounting for 351 acres are earmarked for multiple residential projects across cities.

At least 3 deals for over 115 acres are proposed for data centres, while two deals for over 63 acres are for logistics and warehousing projects. At least 4 deals for over 108 acres are for mixed-used developments. A single, currently anonymous land deal for 600 acres has taken place in Hyderabad.

At least 3 deals for over 115 acres are proposed for data centres, while two deals for over 63 acres are for logistics and warehousing projects. At least 4 deals for over 108 acres are for mixed-used developments. A single, currently anonymous land deal for 600 acres has taken place in Hyderabad.

• Hyderabad remained highly buoyant in the period, with the most land transactions – 5 separate deals for 715 acres accounted for over 59% of the total land transacted between Jan to date. These included one for 600 acres (development type not yet revealed)
• Bengaluru saw 3 separate deals for a total of 140 acres earmarked for residential, mixed-use, and logistics developments
• NCR also sealed 5 separate deals accounting for 9% of the total land deals in this period with approx. 106.3 acres. This includes 2 deals for a total of 91 acres in Gurugram, and one deal each in Delhi, Faridabad and Noida. The proposed developments include residential, mixed-use and warehousing
• Pune saw 5 separate deals for over 91.1 acres of land, accounting for 7% of the total land area transacted pan-India. All are proposed for residential development
• Land-starved MMR saw 5 deals involving 54.85 acres, all earmarked for residential developments
• Chennai saw 1 deal for 5.5 acres where a mixed-use development has been proposed
• Tier 2 & 3 cities with major land deals included Ahmedabad (2 deals for over 6 acres), Nagpur (1 deal for over 58 acres), and Sonipat (1 deal for over 50 acres)

Anuj Puri, Chairman – ANAROCK Group, says, “The leading developers and entities who bought land parcels for residential developments include Godrej Properties, Oberoi Realty, Mahindra LifeSpaces, Gaurs Group, Birla Estates, Hetero Group, Microsoft, and Mapletree Logistics, among others.”

Land remains an important focus area for the sector post-Covid, with many well-capitalized developers and other entities sealing deals in the first five months of 2022.

Top Land Deals

“In comparison to H1 2021, the number of deals has doubled – from 14 deals in H1 2021 to 28 deals between January 2022 till date,” says Puri. “And there’s more than a month to go for the half-year mark. As expected, residential development remains the prime focus, given the robust housing demand that has lost little of its steam despite interest rate and property price hikes. However, these two factors may yet reflect in the momentum going forward”

Also Read: Oberoi Realty Ltd signs 18 acre Thane land deal

The post Bull Run on Land Continues, 28 Deals for 1,237+ Acres Closed in 2022 to Date appeared first on Square Feat India.

By Varun Singh

Hold your breathe because this is the most expensive real estate deal that took place in the recent past in the country.

A flat in Mumbai’s Breach Candy was sold for Rs 1.87 lakh per square feet.

This deal took place in the building named 9A Residence, and is located in the tony Breach Candy area of South Mumbai.

Malabar hill, Altamount road, Breach Candy are the most expensive real estate area of Mumbai as well as India.

The flat is located on the 15th floor of and is unit number 1101.

The seller is Sushil Kothari, whereas the new buyers are Nita Joshi and Abhijit Joshi.

The flat has been sold for Rs 49 crore, whereas the area of the flat is 2,615 square feet, when calculated comes to a whooping Rs 1,87 lakh per square feet.

This is the highest per square feet rate that has been paid by any home buyer in the recent history of real estate.

According to data provided by Indextap.com the stamp duty paid for the real estate deal stand at Rs 2.45 crore. Abhijit Joshi is a reputed name in the legal fraternity.

The deal was registered on September 16 and along with the apartment the owner also has access to four car parks in the building.

Some Big Ticket Deals

• Jiten Doshi and Hetal Doshi, Jiten a reputed and well known name in the Capital Markets had bought a flat for Rs 61 crore in 33 South, Peddar Road, the per square feet rate was Rs 1.66 lakh. This deal took place in February.
• 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

Also Read: Businessman Buys Worli Flat for Rs 23..89 Crore

The post Hold Your Breathe: At Rs 1.87 lac PSF This is India’s Most Expensive Real Estate Deal appeared first on Square Feat India.

By Varun Singh

The real estate market is abuzz with a major realty deal that happened a few days ago in South Central Mumbai.

According to realty sources a group of buyers have negotiated a deal with the developer of One Avighna Park to buy 35 flats. The outgoing for these flats is pegged to be close to Rs 200 crore.

A real estate broker aware about the deal said, “The group of buyers comprises of businessmen from gold industry who reside in the Lalbaug-Parel belt. They have negotiated to buy 35 flats in the building for close to Rs 200 crore. Being a group deal the developer has offered them a good rate too.”

Sources say the deal has been almost finalized and the registration process of the flats will begin soon. “Within a month or two, the registration of all these flats will be completed,” said a person close to the deal.

One Avighna Park is a prime luxurious property located near Currey Road and Lower Parel stations. According to its website, it is a 61 storey building offering 3 BHK, 4BHK and 5 BHK luxury flats.

SquareFeatIndia got in touch with Kailash Agarwal, Chairman of Avighna Group to confirm the details. He refused to comment on the deals.

Post registration, this would be one of the biggest group deal of this year. Realty sources claim that the talks had begun sometime ago and things were finalized in the recently.

While the exact rates at which the flats have been sold isn’t know, but it is believed that the developer and the buyers were satisfied with the outcome of the negotiations.

Lower Parel, Worli belt has seen some big ticket deals in the last few months.

Industrialist Neeraj Kochchar in the month of March paid Rs 136 crore to buy apartments, on the 46, 47, 48 and 49th level of Indiabulls Blu located at Lower Parel.

In June this year, businessman Pratik Agarwal registered a flat in Worli’s Samudra Mahal, for Rs 1,12 lakh per sq ft.

Veteran banker Romesh Sobti along with his wife bought two apartments for Rs 76 crore in Worli’s Three Sixty West in June.

Closeby in Malabar Hill on July 9, two flats were bought by industrialist Anurang Jain for Rs 100 crore in Carmiachel Residencies. This was the most expensive deal at Rs 1.56 lakh per sq ft.

Also Read: Bandra flats sold for record Rs 1.30 lakh per sq ft

The post Group deal of 35 flats for Rs 200 crore in Parel? appeared first on Square Feat India.

By Varun Singh

Last week saw India’s costliest real estate deal of 2020 taking place in Mumbai. The buyer shelled out Rs 100 crore to buy a 6371 sq ft apartment.

A simple calculation shows the buyer paid Rs 1,56,961 per sq ft for the posh apartments

The two apartments were bought by Rahul Bajaj’s nephew Anurang Jain in Carmichael Residences. The building is located on the upmarket Carmichael road of South Mumbai.

Jain one of India’s richest man bought the apartments located on the 19th floor of the building.

Jain is MD of a leading auto part manufacturing and supplying company.

The ready reckoner rates of both the apartments comes to Rs 46.43 crore, while Jain paid Rs 100 crore for both of them.

According to registration documents reviewed by SquareFeatIndia.com, Jain paid Rs 5 crore as stamp duty.

While the detailed paper work was carried out on July 7, the deal was registered on July 9, 2020.

Along with the two flats Jain even got a total of eight car parks in the building with the purchase.

By paying Rs 1.56 lakh per sq ft this deal has ended up becoming the costliest real estate deal of the year 2020.

In June this year, another businessman Pratik Agarwal registered a flat in Samudra Mahal, for Rs 1,12 lakh per sq ft.

Also Read: Power firm MD pays Rs 1.12 lakh psf for Worli duplex

Again in June, Veteran Banker Romesh Sobti paid Rs 76 crore for a flat in Worli’s Three Sixty West.

Big ticket deals

• In 2019 Manish Patel paid Rs 1.29 lakh per sq ft for an apartment in Lodha Altamount.
• In July 2018, a flat exchanged hands in Mumbai’s Breach Candy, or Bhulabahai Desai Road, for Rs 1.49 lakh per sq ft. The nearly 2,422-sq ft apartment, in Ashford Palazzo, was sold by Ashford Construction Pvt Ltd to Satish and Sarita Patwari for Rs 36.11 crore.
• In March 2018, a 2,300-sq ft sea-facing flat in Worli’s Champagne House was sold at a staggering rate of Rs 2.32 lakh per square foot, setting a new record for Mumbai by fetching Rs 53.5 crore. Its current owners, the Kotak family, paid Rs 275 crore for the entire Champagne House.
• In 2018 two top businessmen sealed two major deals. Harsh Goenka of RPG Group bought a flat measuring 3,500 sq ft in IL Palazzo for Rs 45 crore. And Niraj Bajaj bought a 16,000-sq ft apartment at Worli’s Three Sixty West for Rs 120 crore.
• In May 2019, in a big-ticket deal, the sprawling RK Studios, was sold by the five Kapoor siblings to Godrej Properties Ltd for Rs 250 crore.

Also Read: Oberoi Realty to lease 1.1 Mn sq ft to Morgan Stanley

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By Varun Singh

Managing Director of Sterlite Power, Pratik Agarwal has shelled out Rs 1.12 lakh per sq ft to buy a sprawling duplex in Worli.

The duplex apartment is located on the fourth floor of Samudra Mahal, the most sort out address in Worli.

The total area of the duplex bought by Agarwal is 3,639 sq ft for which he has paid Rs 41 crore.

The deal was registered on June 17, 2020, however, someone close to the deal said that it was carried out quite some time ago.

Going by registration document details, this would be the expensive deal of the year 2020 up till now.

Pratik Agarwal already owns a house in Samudra Mahal and resides on the third floor of the building.

Along with the apartment the Sterlite Power MD also got a covered car parking space admeasuring 200 sq ft.

Talking about the building, Rajiv Jain, of Ruchika Shelters says, “Samdura Mahal has braved all storms, this is one building which always stood strong. Also in this deal if you notice, the buyer is a resident of the building. When you buy a next door apartment you tend to pay a premium.”

Samudra Mahal is a premium property in South Mumbai and has been in news for quite some time now. It has apartments where Nirav Modi, Rana Kapoor resided. This building is built on a land parcel where once stood a palace owned by the royal family of Gwalior, the Scindias.

When compared to previous deals, where Nandan Nilekani had paid Rs 1.29 lakh per sq ft this one is a slight lesser. But this would be the most expensive per sq ft deal registered in 2020.

Meanwhile, according to reports, Nilekani had bought the flat from Pravin Agarwal, father of Pratik Agarwal in 2015.

Agarwal didn’t respond to an email sent to Sterlite Power. However, someone aware about the deal said, “Agarwal had bought the flat earlier and registered it in June.”

Many top deals were registered in June this year. For example Veteran Banker, Romesh Sobti registered his flat on June 26.

Sobti along with his wife bought apartments worth Rs 76 crore in Three Sixty West located at Worli.

Also Read: Slowdown? He paid Rs 76 crore for two flats in Worli

Previous big ticket deals

• In 2019 Manish Patel paid Rs 1.29 lakh per sq ft for an apartment in Lodha Altamount.
• In July 2018, a flat exchanged hands in Mumbai’s Breach Candy, or Bhulabahai Desai Road, for Rs 1.49 lakh per sq ft. The nearly 2,422-sq ft apartment, in Ashford Palazzo, was sold by Ashford Construction Pvt Ltd to Satish and Sarita Patwari for Rs 36.11 crore.
• In March 2018, a 2,300-sq ft sea-facing flat in Worli’s Champagne House was sold at a staggering rate of Rs 2.32 lakh per square foot, setting a new record for Mumbai by fetching Rs 53.5 crore. Its current owners, the Kotak family, paid Rs 275 crore for the entire Champagne House.
• In 2018 two top businessmen sealed two major deals. Harsh Goenka of RPG Group bought a flat measuring 3,500 sq ft in IL Palazzo for Rs 45 crore. And Niraj Bajaj bought a 16,000-sq ft apartment at Worli’s Three Sixty West for Rs 120 crore.
• In May 2019, in a big-ticket deal, the sprawling RK Studios, was sold by the five Kapoor siblings to Godrej Properties Ltd for Rs 250 crore.

Also Read: Exclusive: Biggest realty deal of 2020 inked for Rs 136 Crore

The post Power firm MD pays Rs 1.12 lakh psf for Worli duplex appeared first on Square Feat India.

By Varun Singh

अभिनेत्री श्रद्धा कपूर ने कही दिवस आधी आपले वडील शक्ती कपूर यांना स्वतःच्या जुहू येथील प्रॉपर्टी चे ५०% हिस्सा गिफ्ट केले होते, ती प्रॉपर्टी ८१.८४ चौरस मीटर एवढी असून सिल्व्हर बीच हेवन या इमारती मध्ये जुहू तारा रोड येथे आहे.

शक्ती कपूर याने काही आठवड्यातच बायको आणि मुली कडून मिळालेली ही प्रॉपर्टी भाड्याने दिली.

मुली या तशा परोपकारी आणि प्रेमळ म्हणून ओळखल्या जातात, आणि त्यामुळे आपल्या वडीलावर खूप साऱ्या गिफ्ट चा वर्षाव करतात, त्यामुळे यात काही नवल नाही की श्रध्दा ने आपला जुहू प्रॉपर्टी मधील ४०.९२ चौरस मीटर हिस्सा आपल्या वडिलांना गिफ्ट केला

ती जी प्रॉपर्टी आहे ती श्रध्दा आणि शीवांगी कपूर यांच्या संयुकतपणे नावावर होती, त्यामुळे श्रध्दा प्रमाणे शिवंगी हिने सुद्धा आपला ५०% हिस्सा शक्ती कपूर यांना देण्याचे ठरवले, शीवांगी हिने आपला ४०.९२ चौरस मीटरचा हिस्सा शक्ती यांना १.३० करोड रुपयांना विकला.

स्टॅम्प ड्युटी आणि कागदपत्रे नोंदणी शुल्क जवळपास ५.१४ लाख रुपये हे श्रध्दा आणि शक्ती यांना लागले, तसेच ७.८० लाख रुपये शिवांगी आणि शक्ती मध्ये कागदपत्रे स्वाक्षरीसाठी लागले.

जो फ्लॅट श्रध्दा ने आपल्या वडलांना गिफ्ट केली तो इमारतीच्या पहिल्या मजल्यावर आहे, शक्ती कपूर याने ती प्रॉपर्टी हाय स्ट्रीट ट्रॅव्हल वेअर कंपनी ला भाडेतत्त्वावर दिली आहे, त्यांनी ३ लाख रूपये डीपोजीट जमा केले आहे.

श्रध्दा कपूर ही आपल्याला लवकरच वरून धवन सोबत स्ट्रीट डान्सर या ३डी सिनेमा मध्ये दिसणार आहे, जो २४ जानेवारी ला प्रदर्शित होईल, तसेच तिचे काही नवीन येणारे सिनेमे हे बाघी ३ आणि स्त्री २ हे आहेत.

Also Read: Exclusive: Shraddha Kapoor Gifts Father Shakti Kapoor Her Share In Juhu Property.

The post शक्ती कपूर ने काही आठवड्यातच मुली श्रध्दा कपूर कडून गिफ्ट मिळालेली प्रॉपर्टी भाड्याने दिली. appeared first on Square Feat India.