Devvrat Developers buys five premium apartments in Mumbai for Rs 113 crore

File image of the city of Mumbai.

Raigad-based real estate firm Devvrat Developers Pvt Ltd has bought five luxury apartments in an under-construction project in Central Mumbai for more than Rs 113 crore, documents accessed by IndexTap.com showed.

The name of the project is 25 South and is located in Prabhadevi. The apartments are spread across a built-up area of 19,922 sq. ft.

The flats include a duplex on the 45th and 46th floors with apartments of 8,094 sq ft that come with three car parking slots. The agreement value of the unit is Rs 44.69 crore and the stamp duty paid was Rs 2.68 crore, the documents showed.

The second flat is also located on the 45th floor for which an agreement value of Rs 19.45 crore was paid and a stamp duty of Rs 1.16 crore. The apartment is of size 3,355 sq ft and comes with two car parking slots, they showed.

The third flat is located on the 45th floor for which an agreement value of Rs 19.45 crore was paid and stamp duty of Rs 1.16 crore. The size of the unit is 3,355 sq ft. The apartment comes with two car parking slots.

The fourth apartment is located on the 45th floor for which around Rs 16 crore was paid as agreement value and a stamp duty of Rs 96 lakh was paid. The size of the unit is 2,761 sq ft and comes with two car parking spaces.

The fifth unit is also located on the 45th floor for which an agreement value of Rs 13.65 crore was paid and a stamp duty of 81 lakh. The size of the flat is 2,357 sq ft and comes with two car parking slots.

The five transactions were registered on November 28.

Response from both the promoter and the buyer is awaited.

Last year, in one of the biggest high-rise deals in India, the promoters of Mumbai-based real estate major K Raheja Corp had decided to keep possession of three floors of their ritzy project in Mumbai—sprawled over 60,000 sq ft and worth Rs 426 crore.

Against the backdrop of special offers and sales for Diwali and other festivals, Mumbai and its suburbs reported 8,756 property registrations in November, over 4 percent more than 8,276 in October. According to data compiled by Knight Frank India from the Maharashtra government’s Department of Registrations and Stamps, property registrations have dropped by 16 percent in the past six months.