Mumbai real estate update: BDR Pharma promoter purchases 2 apartments worth Rs 80 crore in Worli

Mumbai real estate market has consistently seen a high level of churn in the residential property market. Over 1.04 lakh property registrations have been reported in the first 10 months of 2023. And there were several big-ticket deals among them.

Binita Shah, a board member of BDR Pharmaceuticals and the wife of its founder and CMD Dharmesh Shah, has purchased two flats for Rs 80.8 crore in Central Mumbai’s Worli area from K Raheja Corp, registration documents accessed by proptech firm Zapkey.com showed.

The two apartments together have a carpet area of 6,670 sq ft with a total of 367 sq ft of balcony area, and come with seven reserved parking spots, according to the documents.

The transaction was registered in the first week of November.

The name of the building is Raheja Artesia. This is the building where the promoters of the developer, K Raheja Corp, had decided to retain possession of three floors spread over 60,000 sq ft and worth an estimated Rs 426 crore. The project, Artesia, is a standalone 45-storey tower with views of the Arabian Sea and the Bandra-Worli Sea Link.

BDR Pharma could not be reached for comment. K Raheja Corp declined to comment on the transaction.

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Mehul R Thakkar

Special Correspondent|Moneycontrol

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Also read: HP India MD Ipsita Dasgupta buys Rs 22.52-crore apartment in Mumbai

In a similar deal, Ipsita Dasgupta, the former Apple executive who was appointed managing director of HP India in October, had purchased a 2,964 sq ft flat in the same building for Rs 22.52 crore. The agreement was registered on October 26.

Mumbai has consistently seen a high level of churn in the residential property market. Over 1.04 lakh property registrations have been reported in the first 10 months of 2023. And there were several big-ticket deals among them.

Also read: Mumbai real estate: Everest food products promoter purchases apartment for Rs 73.50 crore

For instance, in August 2023, Surinder Chawla, managing director of Paytm Payments Bank, bought a duplex flat with a carpet area of 2,516 in Indiabulls Sky Forest in Central Mumbai's Lower Parel for Rs 20 crore.