Prashant Jain, HDFC Mutual Fund CIO, buys apartment in Mumbai for Rs 19.36 crore

Worli, Mumbai. (Image: Wikimedia Commons)

Prashant Jain, chief investment officer at HDFC Mutual Fund, has bought an apartment in Mumbai for Rs 19.36 crore, registration documents accessed by Zapkey.com showed.

The 30th-floor apartment is spread across 343 sq m and is located on Marina Bay, Worli Seaface, the documents showed.

The unit comes with three car parking slots. The deal was registered on March 9, 2022.

The seller is Saumya Buildcon Pvt Ltd. A query sent to the developer did not elicit a response.

Local builders have said that the per sq ft price of this sea-facing luxury unit works out to be around 56,000 per sq ft.

"As the realty market improves, we are seeing increased sales in the luxury segment driven by demand from HNIs and UHNIs," said Sandeep Reddy, Zapkey.com co-founder.

In 2020, HDFC vice-chairman and CEO Keki Mistry had bought an ultra-luxury apartment in Mumbai worth Rs 41.23 crore before the deadline of the stamp duty cut expired in March 2021.

In March 2021, HDFC chairman Deepak Parekh’s wife had bought an apartment worth Rs 50 crore in Mumbai.

Real estate experts said that demand for the luxury segment across the country continues unabated, particularly after three waves of the pandemic.

As many as 67 percent of high-net-worth individuals are planning to buy luxury homes in 2022 and the key reason to do so during the pandemic is a lifestyle upgrade, Sotheby's Luxury Housing Outlook-2022 has said.