Worli Seaface Bungalow sold for Rs 185 Crore

Worli Seaface bungalow sold for Rs 185 crore.
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Panhar bungalow located at Worli Seaface, was sold on Friday, July 30, 2021, for a total sum of Rs 185 crore.

By Varun Singh

One of the last standing bungalows in Mumbai was sold, it was sold on Friday for a total sum of Rs 185 crore.

The seller in this case is Arkay Holdings Limited while the buyer is Hari Krishna Exports Pvt Ltd.

For Hari Krishna Exports Pvt Ltd it was Ghanshyam Dholakia who signed the deal.

Dholakia is a well known diamond businessman. The company has been in news for various positive reasons.

According to the documents provided by Zapkey.com, the deal was carried out on July 30, 2021, The name of the bungalow is Panhar, located at Worli Seaface.

According to the documents two transaction were registered for total sum of Rs 185 crore.

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Assignment of lease of land 1,349 square meter, for Rs 47 crore of which the market value is Rs 51.45 crore. Stamp duty of Rs 2.57 crore was paid for the registration of the assignment of lease of land.

The conveyance of the residential building Panhar was carried out for Rs 138 crore, the market value of the bungalow is Rs 138.34 crore.

A stamp duty of Rs 6.91 crore was paid for the registration of the deal.

Arkay holdings had granted this property as security/collateral to a financial firm. Post the payment the charge was released on July 26, 2021.

According to a report by moneycontrol.com the Dholakias were in the news for gifting Mercedes cars to select employees and hundreds of flats, hundreds of pieces of diamond jewellery to their employees.

Also Read: Prajay Praful Patel sells Worli Flat for Rs 45 Crore

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