In perhaps the most expensive real estate deal in Borivali, a 4-BHK apartment having an area of 2,497 sq ft, was sold for Rs 14 crore. The apartment has been purchased by Hemant Anant Patil and Harshada Hemant Patil from Rabindu Nalin Shah and Vaishali Rabindu Shah.
According to the documents accessed by IndexTap.com, the sale agreement was registered on June 21, 2024 and the purchaser paid a stamp duty of Rs 84 lakh for the apartment situated in Aquaria Grande, Devidas Lane, Borivali West. The per sq ft rate at which the apartment was sold is Rs 56,000 and it comes with three car parking, the documents reveal.
Stating that the deal is a ground-breaking development for Borivali West's real estate market, Co-Founder of PropFina, Nitin Singhal said, “It establishes a new pricing benchmark for the area, which is already seeing a surge in redevelopment projects. This transaction has highlighted how design and location can create aspirational value in a competitive market. The project has managed to segregate itself from other redevelopment ventures in the area by focusing on aspirational value. Buyers are not just purchasing an apartment; they're buying into a lifestyle that epitomizes luxury, convenience, and exclusivity.”
Mumbai city has recorded over 1,05,664 property registrations in the first nine months of 2024, contributing more than Rs 8,892 crore to the state exchequer during this period. Property registrations observed a 12% year-on-year (YoY) growth while revenue grew by 6% YoY during the same period. Sustained buyer confidence has fueled consistent sales, driven by the city's property registration growth, Knight Frank said in its report.
