Eleannt Enterprises acquires plot in Delhi’s Vasant Vihar for Rs 95 crore
The South Delhi-based real estate firm has paid Rs 6.65 crore as stamp duty and corporation tax, according to the copy of sale deed accessed by ET. Lokeshh Goyal, director of Eleannt Enterprises, declined to comment on the deal.
Setting a new national residential property price record, billionaire Uday Kotak, the founder of Kotak Mahindra Bank, has now concluded deals for eight additional apartments to seal the acquisition of an entire residential building located on Worli Sea Face for more than Rs 400 crore.
While the banker’s family had earlier registered deals for 13 of the 24 apartments in the ground-plus-two-storey building in January and September at nearly Rs 2.72 lakh per sq ft, the latest transactions have surpassed that number to set a new benchmark at around Rs 2.75 lakh per sq ft.
The new deals worth prices ranging between Rs 12 crore and Rs 27.59 crore for apartments spread over 444 sq ft to 1,004 sq ft were registered on April 8th and April 21st, shows the documents accessed by ET.
These latest eight transactions cumulatively valued at Rs 131.55 crore are part of the total deal worth over Rs 400 crore for the entire building spread over two-fifths of an acre on the sea front.
While the biggest apartment in the building spread over 1,396 sq ft has been sold for Rs 38.24 crore, the smallest house with 173 sq ft area has fetched over Rs 4.7 crore.
Prior to Kotak’s January deals, the highest per sq ft rates achieved anywhere in the country stood at Rs 2.25 lakh and Rs 2.09 lakh in South Mumbai’s Altamount Road and Bhulabhai Desai Road, respectively.
The prime sea-facing property, 19 Shiv Sagar, is adjacent to Champagne House that Kotak family acquired in 2018 from Ranjit Chougule, managing director of the defunct wine firm Indage Vintners for Rs 385 crore.
Champagne House is also spread over two-fifths of an acre and is now being redeveloped as the family’s new palatial house. It could now be ascertained if the Kotak family is looking to merge both these plots for redevelopment or keep it separate for another project.
ET’s email query to Uday Kotak’s office remained unanswered until the time of going to press.
Mumbai, the country’s largest and most expensive real estate market, has continued its record-setting spree by scaling yet another peak, registering the highest number of property transactions ever recorded in the month of April.
The market has extended its streak of record performances with robust sales activity backed by unwavering demand from buyers despite steady growth in property prices and the government’s recently announced hike in ready reckoner (RR) rates from April 1.
The country’s financial capital has witnessed registrations of over 13,080 deals during the month helping the state exchequer fetch over Rs 1,114 crore through stamp duty collection, showed data from Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
