This flat comes with nine parking spaces. Patel paid Rs 5.8 crore in stamp duty on this transaction when the sale deed was signed on April 29.
A 47th-floor flat in Mumbai's affluent Worli neighbourhood sold for Rs 97.4 crore. Worli is regarded as Mumbai's most expensive neighbourhood. The promoter of the diamond company Kiran Gems, Mavjibhai Shamjibhai Patel, is rumoured to have bought this flat. The Oberoi 360 West project's 47th floor contains this flat. It has 14,911 square feet of space. It has 884 square feet of additional space that is expandable. The documents state that Skylark Buildcon Private Limited, an Oasis Realty Partner, sold this flat.
This flat comes with nine parking spaces. Patel paid Rs 5.8 crore in stamp duty on this transaction when the sale deed was signed on April 29. There are flats in this project with four and five bedrooms. The project consists of two towers, one holding the Ritz-Carlton Hotel and the other housing opulent apartments. An amazing view of the Arabian Sea is provided by this project.
With a 360-meter height, every apartment on the building faces west. It has been dubbed 360 West as a result. The country is currently witnessing a significant increase in the sales of opulent apartments. A recent report by the real estate consulting firm Enrock claims that during the past five years, demand for premium and luxury homes in India has increased significantly. In the first quarter of 2019, only 7% of the houses sold were luxury properties; by the same quarter in 2024, that percentage had risen to 21%.
At present, the scope of luxury flat projects is not only in Mumbai or Delhi, but has also reached cities like Noida, Ghaziabad and Faridabad.
As per Enrock's report, there is a rise in the demand and sales of luxury homes, but there is a decrease in the sales of houses in the affordable or budget segment. In this segment, only about 26,545 units were sold in the first quarter of this year, or 2024. This represents a significant 20% decrease from the previous five years. The percentage of budget segment homes among all sold homes in 2019 was 37%. In seven major cities across the nation, 1.30 lakh houses were sold between January and March. Of these, luxury homes made up 27,070 units, or 21%.
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