Man buys three full floors in Prabhadevi building for Rs 127 cr

In a big ticket deal, an individual bought three floors of a building paid over Rs 127.49 crore for a flat with a total carpet area of 20,989 sq ft. The buyer, Rajesh Mandawewala, Group Managing Director of Welspun, bought the flats is ‘25 South’ located at Prabhadevi. The last big deal was for Rs 120 crore in Worli where Industrialist Niraj Bajaj paid Rs 120 crore for a single flat in Worli.

The building 25 South is being constructed by Wadhwa Group and Hubtown. A person known to the deal said, “This is the biggest floor plate we sold in this building to an individual, all the top three floors, 45,46 and 47 of one of the wings have been bought by Mandawewala. All the three flats are bare shell flats, the carpet area is above 20,000 sq ft while the super built up will come up to 30,000 sq ft.” 

Along with the flats, the new owner will also get a total of 14 car parks. The source further stated, “The buyer even paid above Rs 6.37 crore ad stamp duty for registering the documents.  Apart from this the buyer also paid a GST on the total amount which brings the figure close to Rs 140-150 crore.” The 25 South is a luxurious residential project. It offers 3, 4 BHK and 4 BHK plus family room residences across 3 towers. All residences offer sea views from one or more rooms. The project is spread over a 5-acre land parcel and is 110 meters from the shoreline of the Arabian sea. The project is under construction and it shall be ready by 2023. 

Meanwhile the last big deal of this size was when industrialist Niraj Bajaj paid Rs 120 crore for a 1,587 sq mt apartment in Worli. Housing experts say this is the most someone has paid for a single flat. Before that businessman, Deven Mehta shelled out Rs 57.45 crore for an apartment in Lodha Altamount at Peddar Road. Bajaj also got eight car parking slots.

A BIG DEAL INDEED

• The last deal of this size was when industrialist Niraj Bajaj paid Rs 120 crore for a 1,587 sq mt apartment
   
• Housing experts say that’s the most anybody has paid for a single flat