In one of the biggest real estate deals, Bollywood actor Shahid Kapoor has purchased an apartment measuring 5,614 sq ft worth Rs 58.66 Crore at Oberoi 360 West in Worli. Kapoor purchased the apartment jointly with his wife, Mira Shahid Kapoor, from Chandak Realty Pvt Ltd.
Situated on the 24th floor in Tower B of the Oberoi 360 West, the apartment attracted stamp duty of Rs 1.75 Crore and the sale deed was registered on May 24, 2024, according to the document accessed by real estate advisory firm IndexTap.com.
The apartment is situated on Dr Annie Beasant Road and Kapoor also purchased three car parking spaces, the document revealed. While property registrations in Mumbai Metropolitan Region (MMR) witnessed a 16% increase in the revenue to the state exchequer in the month of April, 2024 as compared to same month last year, the developers attribute the rise in demand for property to the homebuyers’ aspirations, unchanged ready reckoner (RR) rates and infrastructure development.
According to a report released by property consultants Knight and Frank, Mumbai city recorded property registration of 11,504 units in April 2024, adding over INR 1,043 Crore to the state exchequer.
As per the Maharashtra department of stamps and registrations, in April 2024, there was an increase in registration of apartments measuring up to 500 sq. ft., rising to 45% of all registrations. Conversely, the share of apartments ranging from 500 sq. ft. to 1,000 sq. ft. stood at 40% during the same period last year.
Share of larger apartments measuring 1,000 sq. ft and above remained stable at 15% during the year, the report said. Of the total properties registered, nearly 86% of Western suburb consumers and 92% of Central suburb consumers opt to purchase within their micro market. This choice is influenced by the familiarity of the location, along with the availability of products that align with their pricing and feature preferences.
