(MENAFN- Live Mint) Luxury housing surge: The co-promoters of footwear retail brand Metro, Alisha Rafiq Malik and Zia Malik Lalji have purchased two luxury apartments worth Rs162 crore in Mumbai's Worli area, reported Hindustan Times, citing documents accessed by Indextap.
The apartments are located in Palais Royal, one of the tallest buildings in Mumbai , constructed by Honest Shelters Private Limited.
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The luxury apartments are on the 45th floor. The first apartment , which measures 7,564 sq ft and has five car parking spaces, was bought for ₹81 crore. The report said a stamp duty of ₹4.05 crore was paid.
The second apartment was purchased for ₹81 crore, measuring 7,687 sp ft. It has five car parking spaces, and a stamp duty of ₹4.05 crore was paid. The apartments were registered on December 20.
In September, five promoters of Metro Brands Ltd sold a stake worth ₹749.7 crore through open market transactions, according to reports.
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The Worli area in Mumbai is a location for many luxury projects.
Two high-profile transactions were registered in the Worli area this month.
Barnsley Football Club's chairman, Neerav Parekh, and his mother, Kalpana Parekh, bought two apartments costing Rs170 crore in the Worli area. Both the apartments were registered on December 5 and 7, the report said citing property registration documents accessed by Indextap.
On December 11, Alkem Laboratories promoter Mritunjay Kumar Singh's wife, Seema Singh, bought a luxury apartment worth ₹185 crore in the Worli area, the report said, citing IndexTap.
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Worli has joined the list of hotspots for several luxury projects, including South Mumbai, Lower Parel, Prabhadevi, and Bandra.
From January to September this year, the sales of units in the luxury housing segment costing ₹4 crore as above rose by nearly 37.8% on a year-on-year basis due to high demand, the report said citing CBRE South Asia Pvt Ltd said in its report titled India Market Monitor Q3 2024 – Residential. The sales of luxury units in this period were at 12,625 from 9,160 units in the same period the previous year.
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