Karisma Kapoor's 675 sq ft flat goes for Rs 7 cr

Actor Karisma Kapoor's 675 sq ft flat in Bandra has been sold for a whopping Rs 7 crore, 3.7 times more than the market value of Rs 1.89 crore, entering the growing list of celebrity flats in the city fetching astronomical rates.

The actress, a member of the Kapoor family, popularly known as the first family Bollywood, transferred her rights on the flat to Silver Birch Real Estate Private Limited, a Bandra East-based firm, at Rs 1.03 lakh/sq ft.

The apartment is located on the ground floor of Park Avenue building, at the junction of 16 and 29 road, Bandra west. As per the registration document, a copy of which is available with DNA, the ready reckoner rate (market rate) for the flat comes to around Rs 1.89 crore.

When this reporter visited the apartment, a person present there said the flat was being used as the actress's office. The flat has a large black door, and the name plate adorned the name Kapoor's.

Inside was a huge poster of the actress, along side many of her photographs.

Repeated attempts to contact Karisma got us no response.

The deal was inked in December, and it is said that the building was being redeveloped. The buyer paid Rs 35 lakh as stamp duty for registering the document.

Prakkash Rohira of Karma Realtor said, "Such high rate for an old building is unheard of. But it is a one-off deal and doesn't represent the market sentiments. Whenever a star is involved, the deal does attract a premium."

In December itself, former Congress MP Priya Dutt sold her apartment in Bandra's Imperial Heights for Rs 93,000/sq ft. Even she was paid almost double the ready reckoner rate for the flat that was bought by another Bandra resident. She sold her 1,675 sq ft carpet area flat for Rs 15.60 crore. This is way above the market rate, and the ready reckoner rate which stands at Rs 8.21 crore. The stamp duty paid for the registration of the flat itself came around Rs 78 lakh.