Biggest apartment deal in Mumbai

Q: India's leading developer Lodha Group sells duplex flat in Mumbai for Rs. 160 crore

Lekshmi,

1st December 2015

Real estate News in Mumbai

lodha group

biggest apartment deal in mumbai

duplex flat in mumbai

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It is true Ananya.
Buyers identity is hidden but as per the print media that a promoter of a pharmaceutical company is believed to be the buyer of this luxury apartment who confirmed the transaction by email. The apartment sold by Lodha is spread over 33rd and 34th floor of the developer's under-construction project One Altamount.

Dhiraj,

1st December 2015

Comment

As per the company, they bought this land parcel from US consulate for Rs 342 crore in 2012 and the project is being built on the site of Washington House, formerly the US Consulate in Mumbai.

In 2013, a sea-facing duplex apartment in a building on Mount Pleasant Road in south Mumbai's Malabar Hill locality was sold for Rs 57 crore, or around Rs 1.35 lakh/sq-ft, making it the most expensive residential property transaction on a per sq-ft basis until now.

Shreya Agarwal, Mumbai

1st December 2015

Hello Shreya,
This record setting deal surprised many in the current slow trend in residential sales. The reason behind it is limited supply of luxury houses in South Mumbai and almost no new project with better amenities being developed in this locality. The project site is situated near the highest point of the island city.

Ananya,

1st December 2015

Yes, the realty developer Lodha Group has sold a super-luxury duplex apartment in South Mumbai's tony Altamount Road locality at Rs 1.60 lakh/ sq-ft. The estimated cost is Rs 160 crore. It is a record setting transaction of any residential properties in Mumbai.

Dhiraj,

1st December 2015

Comment

Hi Dhiraj,
I heard that the apartment is spread over 10000 sq-ft. It has been sold at the highest price per sq-ft incomparable all earlier benchmarks. Earlier record for highest per sq ft price paid anywhere in the country was Rs 1.35 lakh per sq-ft.

Ananya,

1st December 2015

Right Ananya,
In October, developer had sold a 5BHK luxury apartment at One Altamount project for Rs 40 crore. The project under Lodha's The Luxury Collection will have a limited number of 3 and 4 BHK residences and 5BHK villas.

Dhiraj,

1st December 2015