Yatin Shah, co -founder of financial services firm 360 One, has acquired a sea-view penthouse in one of the super-luxury residential towers on Dr. Annie Besant Road in Mumbai’s plush Worli locality for over Rs 158.51 crores.
The buyer, along with his wife, has acquired the luxury duplex apartment spread over 10,312 sq ft on the top two floors of the residential tower from a development company Prime Realty LLP that counts politician and industrialist Praful Patel and his family members as its directors.
The deal is valued at nearly Rs 1.54 lakh per sq ft pushing it higher in the tally of most expensive deals on per sq ft basis anywhere in the country.
The buyer has paid over Rs 9.51 crore in stamp duty charges alone for the registration of the deal that took place on October 30, while the transaction was finalized on October 28, showed the documents accessed through Zapkey.com.
The property encompasses the entire 29th and 30th levels, effectively taking up two habitable floors in the tower. The 29th level, with 5,513 sq ft of space, includes living areas, while the 30th level, with 4,799 sq ft, leads to a private terrace spread over 7,355 sq ft.
ET’s email queries to Shah’s team and the project’s developer remained unanswered until the time of going to press.
Shah is also CEO of the wealth business of 360 ONE.
360 ONE WAM, founded by Karan Bhagat and Shah is listed on the stock exchanges and is one of India’s largest wealth and asset firms. 360 ONE is the investment and financial advisor to over 7,500 relevant families in the High Net Worth Individuals (HNI) and Ultra HNI segments, with aggregate assets of more than $68 billion under management.
Sales of residential properties across the top eight cities scaled an all-time high in 2023 and continues to perform well so far this year owing to robust demand across mid-income, premium and luxury segments.
Mumbai has been leading the pack as the country’s biggest and most expensive property market as it continued the record-setting spree in terms of property deals.
South and Central Mumbai, home to India’s most expensive apartments, have been playing a key role in driving this performance. The micro markets witnessed many large-ticket transactions involving industrialists, top corporate executives, actors, and sports personalities in the last few years.
