Priya Dutt's Bandra flat sets real estate record

Former Congress' Member of Parliament, Priya Dutt, who represented the Mumbai North Central parliamentary constituency, has set a real estate record. She transferred her Bandra flat on December 18, at a price of Rs 93,000 per square foot. She sold her 1675 square foot carpet area flat for a price of 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 is Rs 78 lakh. Experts say that whenever there is a star or a big name involved the transaction does attract a premium.

In September on the same Nargis Dutt road, actor Kangana Ranaut paid a whopping Rs 20.7 crore for a bungalow, she paid Rs 67,000 per square foot for a ground plus three storey structure.

In August 2013, when actor Shah Rukh Khan had wanted to rent his flat, according to reports he was asking for a rent of Rs 3 lakh per month, which was also more than the then prevailing market rate.

The flat sold by Dutt is on the second floor of building named Imperial Heights, located on Nargis Dutt road, Pali Hill. Along with the flats, the deal also includes two car park space, and the total built-up area of the flat is nearly 186 square meters. Dutt herself stays in the same building on the 11th floor.

The flat has been bought by another Bandra resident Krishnakumar Vaidyanath. According to Prakkash G Rohiira, of Karma Realtors a Bandra based realtor, the building which houses Dutt herself, is a premium building in the locality and demands a good rate. "The rate at which the flat is sold, is high, but then this shouldn't be held as a benchmark for all the other flats or buildings in the locality, as flats on this road has been sold for a lower value too. Normally whenever a celebrity or a big name is involved in the deal, a premium get attached to the transaction thus raising the deal," he said.

Repeated attempts to contact Dutt got us no response. Dutt had contested the 2014 Lok Sabha elections where she lost the seat, earlier represented by her father Sunil Dutt to BJP's national president of the youth wing Poonam Mahajan.

VIP PROPERTY

• The 1,675 sq ft flat sold for Rs 15.6 crore at an average price of Rs 93,000 per sq ft.
   
• The price was way above the ready reckoner rate of Rs 8.21 crore and market rate of Rs 10.55 crore.
   
• The flat is on the second floor.