Motilal Oswal Financial Services MD Ashish Gumashta purchases Rs 36 crore apartment in Mumbai's Bandra

Mumbai real estate update: The transaction was registered on March 07, 2024. The property comes with an exclusive attached balcony measuring 250 sq ft, the documents stated.

Ashish Sharad Gumashta, who is the Managing Director of Motilal Oswal Financial Services Limited, has purchased a 3,416-sqft flat in Bandra area of Mumbai for Rs 36.19 crore, according to property registration documents accessed by IndexTap.com

Gumashta paid Rs 2.17 crore towards stamp duty for the transaction and Rs 30,000 as registration charges, the documents revealed.

The transaction was registered on March 07, 2024. The property comes with an exclusive attached balcony measuring 250 sq ft, the documents stated.

The under construction property also comes with five free parking spaces. The Maharashtra RERA project completion deadline for the building is December 31, 2024.

When contacted, Motilal Oswal Financial Services Limited in an email response to Moneycontrol said: "The real estate investment is a personal venture unrelated to company affairs. Therefore, we will refrain from making any comments on this matter."

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Special Correspondent|Moneycontrol

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Gumashta in a WhatsApp message said, "This investment is personal, and I'd prefer to keep it private without further comment."

Also read: Why Buy Now, Pay Later is making a comeback in the Mumbai real estate market?

Bandra is one of the hottest micro-market in the Mumbai real estate market and is also home to several Bollywood stars including Shahrukh Khan, Salman Khan and Aamir Khan. In several posh localities of Bandra, the per sqft rate has touched Rs 1.50 lakh per sqft. Several Grade A developers like Adani Realty, Raymond Realty, Ajmera Realty,  Rustomjee Group etc have projects in this micro-market.

Also read: Mumbai Real Estate in 2024: Birth of the Rs 2 lakh/sq ft home

In August 2023, Thane-based Ashar Group had announced that it will be redeveloping the bungalow of late Bollywood superstar, Dilip Kumar, in the plush Pali Hill area of Bandra in Mumbai into a luxury housing project expected to have a revenue potential of around Rs 850 crore.