Godrej industries’ Chairman Nadir Godrej and his household have acquired three sea-view luxurious residences in South Mumbai’s Malabar Hill for a complete of almost Rs 180 crore from an actual property growth subsidiary of the JSW Group.

The under-construction super-luxury residential challenge, Ruparel Home, on Ridge Highway on the high of Malabar Hill with the view of Queen’s Necklace, is being developed by R Home Realty, a part of JSW Realty.

These residences on the sixth, seventh, and eighth ground of the upcoming tower are unfold over a complete 13,836 sq ft together with 1,029 sq ft space of simply unique deck and lined balcony.

Godrej, a part of the Godrej Group promoter household, and his two sons Burjis and Hormusji have collectively paid Rs 10.79 crore as stamp obligation alone for the registration of the offers that occurred on June 12, reveals the paperwork accessed by means of Zapkey.com.

As a part of the deal, the consumers can even get unique entry to 12 automotive parking slots within the unique tower that includes 14 residential ranges every with a single condo per ground. The challenge is anticipated to be delivered by December 2027.

The property deal, together with stamp obligation and GST, is valued at Rs 1.44 lakh per sq ft making it one of the vital costly transactions within the nation.

ET’s e mail question to Godrej Industries and JSW remained unanswered till the time of going to press.

Gross sales of residential properties throughout the highest eight cities scaled an all-time excessive in 2023 because of strong demand throughout mid-income, premium and luxurious segments.

Mumbai led the pack because the nation’s greatest and most costly property market because it continued the record-setting spree when it comes to property offers with greatest efficiency for Could with registrations surpassing the ten,000-mark in every of the primary 5 months of 2024. Additionally, the market has seen year-on-year development in registrations for ten successive months, beginning August 2023.

South and central Mumbai–home to India’s most costly apartments–has been enjoying a key position in driving this efficiency. The micro-market witnessed many large-ticket record-setting transactions involving industrialists, CXOs, actors and sports activities personalities in the previous couple of years.