Ashley Biharilal Nagpal, promoter of furniture company EBCO has purchased a luxury apartment in a super-premium residential tower in central Mumbai’s plush Worli locality for over Rs 115.5 crore.
The deal values the apartment at nearly Rs 1.62 lakh per sq ft basis the carpet area spread over 7,139 sq ft, making it one of the most expensive residential property transactions anywhere in the country.
Nagpal along with his wife Bianca A Nagpal has acquired this property on the 60th floor or 44th habitable floor in Oberoi 360 West directly from the developer Oberoi Realty. Apart from the carpet area, the house also has an additional area of 164 sq ft.
As the same apartment is being transacted within three years of earlier registration that attracted stamp duty of Rs 2.86 crore, the new buyer has paid the differential stamp duty of Rs 4.55 crore, showed the document accessed through Zapkey.com.
As part of the deal, which was registered on August 28, the buyers will also get exclusive access to five car parking slots in the tower.
ET’s separate email queries to Ashley Nagpal and Oberoi Realty remained unanswered until the time of going to press.
Residential property sales in the top eight cities have been witnessing an uptrend over the last three years, fueled by strong demand across mid-income, premium, and luxury segments.
Mumbai, as the country’s largest and priciest real estate market, spearheaded this trend, breaking new records in property transactions and achieving exceptional performance almost every month.
The country’s financial capital continued its upward trajectory and record-setting spree by recording its best-ever August performance led by robust sales as well as stamp duty collection despite higher mortgage rates and steady rise in property prices.
The city’s consistent sales momentum has been driven by sustained buyer confidence, surpassing 10,000 units in monthly registrations for the first eight months of 2024. This marks eleven consecutive months of annual growth since August 2023.
