Bollywood actor Rajkumar Rao has bought a luxury triplex apartment in Mumbai’s plush Juhu locality for nearly Rs 44 crores from late actress Sridevi and producer Boney Kapoor’s daughter and actress Janhvi Kapoor.
The transaction values the apartment spread over 3,456 sq ft at nearly Rs 1.27 lakh per sq ft pushing it into the tally of the country’s most expensive residential deals ever.
Recently Bollywood actor Ranveer Singh bought a sea-view luxury quadruplex apartment in a super-premium residential tower on Bandstand in Mumbai’s plush Bandra locality for Rs 119 crore, making it one of the most expensive deals for a single residential apartment anywhere in the country.
Singh’s transaction was valued at over 1 lakh per sq ft, in line with the ongoing property rates in the vicinity, while Rao’s deal for the apartment in luxury tower Araya in Juhu is valued much higher on per sq ft basis.
Kapoor had bought this apartment in December 2020 in the luxury tower on JVPD Scheme, which is known for residences of several high-profile personalities from Hindi film industry.
Rao, also known as Rajkumar Yadav, has bought the apartment along with his wife Patralekha Misra Paul. The apartment is spread over the 14th, 15th and 16th floor of the tower, while Yadav and his wife already own and reside in apartments on the 11th and 12th floor of the same building.
According to the document, the buyer has paid stamp duty of Rs 2.19 crore for the registration of the deal. As part of the deal, Rao will get exclusive access to six car parking slots. The deal was registered on July 21.
Mumbai, the country’s largest and most expensive real estate market, has been setting new benchmarks with property transactions lately after the state government’s 2020 announcement of a limited-window stamp duty reduction.
The significant but limited-period stamp duty reduction window that ended on March 31, 2021, was a catalyst for the city’s residential market. While stamp duty rebates are not available now, the deals have continued to flow in.
Several large-ticket record-setting transactions have been taking place in the city. Recently, Siddharth Jain, part of INOX Group’s promoter family, had bought a sea-view luxury quadruplex apartment in a super-premium residential tower on Dr. Annie Besant Road in Mumbai’s tony locality of Worli for Rs 144 crore.
Property registration in Mumbai has continued its record-setting spree by scaling a new peak in June notwithstanding an increase in interest rates and withdrawal of lower stamp duty benefit.
Mumbai recorded over 9,919 property registrations during the month of June, up 26% from a year ago, marking a new high for June both in terms of number of deals and stamp duty collection that stood at Rs 733 crore.