IGE India Pvt Ltd has bought two luxury apartments overlooking the sea, spread across an area of 16,000 sq ft in Mumbai’s posh real estate project Oberoi Three Sixty West for Rs 151 crore, documents accessed by CREMatrix showed.
The buyer has bought the two flats located on the 58th and 59th floors in the project, situated on Annie Besant Road in Worli, from Oasis Realty, a subsidiary of Oberoi Realty.
The agreement value of each apartment is Rs 75.50 crore and the area is 8,036 sq ft, the documents showed.
The property was registered on September 8, 2022, while stamp duty paid was Rs 4.53 crore.
The apartment comes with a total of six car parkings.
“On checking, the transactions of project Three Sixty West on IndexTap mobile app, we saw most sale transactions in years 2020-2021 were in the range of Rs 65,000-Rs 70,000 per sqft wherein a 7,530 sqft apartment traded at approximately Rs 47-50 crore. This project received its Occupation Certificate last month, post which the project has seen phenomenal rise in trade value,” said Abhishek Kiran Gupta, CEO and Co-founder, Indextap.com.
“The recent transaction in September 2022 of unit size of 8,036 sq ft was traded at Rs 75.5 crore, which is approximately 95,000 per sq ft. Once again, this reiterates that homebuyers prefer ready-to-move-in properties and there is still an unsatiated appetite for luxury houses in Mumbai,” he said.
There was no response from the buyer or the seller.
According to information posted on IGE India Pvt Ltd, the company was founded in 1930 and was the joint venture vehicle of General Electric and the Dabriwala family to operate diversified businesses in medical systems, financial services, real estate services, turbines and power services, payrolls, training, silicones and media. Since the Dabriwala family bought out GE’s stake in IGE it has made several investments in real estate, private equity and in listed companies.
Three Sixty West by Oberoi Realty is a project that contains 4BHK and 5BHK units. It comprises two towers, of which one will house The Ritz-Carlton Hotel and the other will have luxury residences managed by the global hospitality chain.
The sea-view project presumably gets its name because its height is 360 meters. All apartments face the west.
Earlier this year, promoters of Mumbai-based K Raheja Corp have bought a Juhu plot along with the house sitting on it for Rs 265 crore.
Siddharth Jain, director of INOX Leisure, bought a quadruplex flat in Worli, one of Mumbai’s upscale areas, for Rs 144 crore.
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