According to specialists in the real estate sector, sales of luxury flats have increased in Mumbai since most purchasers want to move before the deadline of March 31, 2023. This occurs shortly after a provision in the 2023 Budget that was previously disclosed and was anticipated to have an effect on the sale of ultra-luxury houses starting on April 1. Reinvestment of capital gains from the sale of long-term assets, including real estate, is limited to Rs 10 crore. This cap is not currently in effect.
According to a TOI story, an 18,000 square foot triplex in a south Mumbai skyscraper under construction at Walkeshwar was sold for Rs 252 crore in the most recent significant real estate transaction.
Work has recently started on the 31-story Walkeshwar building, which is expected to be finished in June 2026. Together with eight parking spaces, the tower’s 29, 30, and 31st levels will house Bajaj’s new residence. He is now a resident of the Mount Unique building on Pedder Road with his family.
The Bajaj family has lived on the top two floors of the building for decades, although it is over 50 years old and does not have the modern conveniences seen in new luxury skyscrapers. According to the TOI article, the businessman and his family would have access to a personal rooftop terrace with a pool in Lodha Malabar.
As many as 28 home units for Rs 1,238 crore have recently been purchased by family members and allies of D’Mart founder Radhakrishna Damani in Mumbai, in what is perhaps one of the largest real estate transactions in the nation.
One of India’s leading merchants, his employees, and businesses purchased 1,82,084 square feet of carpet in total, including 101 parking spaces.
On February 3, 2023, all transactions were recorded. The purchasers have acquired flats in Three Sixty West’s Tower B, which is situated on Annie Besant Road in Worli, Mumbai. The project’s redevelopment was co-financed by builder Sudhakar Shetty and property developer Vikas Oberoi.
A luxury residential complex will be developed on Raj Kapoor’s bungalow in Chembur, according to a recent announcement by real estate developer Godrej Properties Ltd. The deal’s value was not disclosed by the corporation, but according to a Moneycontrol article based on property registration records that Zapkey.com obtained, it is worth Rs 100 crore.
According to the Index 2 document, the land and building are situated at Deonar Cottage, Deonar Farm Road, Deonar, in Mumbai, and the land size is 4,265.50 sq meter.
