Mumbai: In a notable event for the Mumbai real estate market, two high-value transactions have been completed at the prestigious Palace Royale building located on Ganpatrao Kadam Marg, Worli. The residential units have been purchased by Zia Malik Lalji and Alisha Rafiq Malik, the promoters of Metro shoes for Rs 81 crore each.
Honest Shelters Private Limited has sold two residential units on the 61st level of Palace Royal, which corresponds to the 45th level as per the Brihanmumbai Municipal Corporation (BMC) plan. Both units fetched a substantial price of Rs 81 crore each, according to documents accessed by IndexTap.com.
The first unit, Residential Unit No. 61 North East, was acquired by Alisha Rafiq Malik for Rs 81 crore. This transaction includes a stamp duty of Rs 4.05 crore. The unit spans a generous area of 7,564 square feet, offering expansive views and state-of-the-art amenities.
The second unit, Residential Unit No. 61 South East, was purchased by Zia Malik Lalji, also for Rs 81 crore, with a corresponding stamp duty of Rs 4.05 crore. This unit encompasses 7,687 square feet, providing ample space and luxury for the new owner. Both the transactions were registered on December 20 and include parking spaces for 10 cars.
These sales underscore the vibrant real estate market in Worli, a locality known for its upscale residential and commercial properties. The transactions are set to influence property values in the area, reflecting the premium status of the Palace Royal building.
Industry experts suggest that such high-value transactions indicate a strong confidence in the Mumbai real estate market, particularly in luxury segments. With both units being sold on the same day, it demonstrates a significant demand for premium properties despite broader economic uncertainties.
