In one of the biggest real estate deals in India, an industrialist has bought a penthouse worth a whopping Rs 240 crore in a luxury tower at Worli in Mumbai. The industrialist, Welspun Group Chairman B K Goenka, bought the penthouse which is spread over 30,000 square feet, according to a Times of India report.
It added that Goenka purchased the triplex (through a group company) in Three Sixty West at Annie Besant Road, Worli. The penthouse is on the 63rd, 64th and 65th floors in Tower B of the skyscraper.
The penthouse, which spreads more than 30,000 sq feet, is about 100 times the size of a free 300-sq ft tenement which is provided to a slum family under the government’s slum rehabilitation scheme, according to the report.
Pankaj Kapoor, founder and MD of real estate rating and research firm Liases Foras, told TOI, “This is the costliest apartment sold to date in India. We anticipate more deals in the ultra-luxury segment in the next two months because, from April 2023, the capital gains allowed to be invested under Section 54 have been limited to Rs 10 crore. So, any capital gain above Rs 10 crore would be automatically taxed.”
The project was built by Oasis Realty, a joint venture between businessman-builder Sudhakar Shetty and builder Vikas Oberoi’s Oberoi Realty. Oberoi too, has reportedly bought a penthouse in the adjoining wing of the same tower for Rs 240 crore. Oberoi Realty has now acquired the Three Sixty West project for Rs 4,000 crore.
Recently, DMart founder Radhakishan Damani’s family members and associates have bought as many as 28 housing units worth Rs 1,238 crore in Mumbai. It is perhaps the biggest property deal in India.
The property purchase comes after the Budget 2023 announcement. A Rs 10-crore cap has been imposed on the reinvestment of capital gains from the sale of long-term assets, including housing property. Some properties were purchased in the name of companies. The total carpet area is about 1,82,084 square feet, including 101 car parks.
In 2015, the Jindal family, which runs Jindal Drugs, purchased a 10-000 sq ft apartment in Lodha Altamount for Rs 160 crore. In 2022, actor Ranveer Singh purchased a quadruplex in Bandra for Rs 119 crore. In December 2022, Devvrat Developers purchased five apartments in Prabhadevi for Rs 113 crore.
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