Published On: Sat, Aug 8th, 2015

Mega Deal: Mumbai penthouse sold for Rs 202 crore

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Mumbai: In a record breaking deal in the Indian real estate sector, a penthouse in South Mumbai’s Napean Sea Road locality has been bought by an industrialist for a jaw dropping Rs 202-crore deal.

As per a report in the Economic Times, a sea-facing triplex penthouse in South Mumbai’s Napean Sea Road locality a prominent industrialist is buying the luxury pad with 17,000 sq ft of carpet area spread over the 20th, 21st and 22nd floors of a project, The Residence, being built by the Runwal Group. The penthouse offers views of the Arabian Sea and the Queen’s Necklace and has 21 car-parking slots as part of the transaction.

“This is as good as a private bungalow in the most sought after locality of tony Napean Sea Road, which does not have too many of them available now and has made way for vertical developments. So for a family looking for that kind of lifestyle, options are limited,” said one of the people.

Each floor of both wings will have one apartment each. The project is expected to be delivered by March 2018. The Runwal Group is developing the project on the largest available plot in the vicinity after bringing down a bungalow, Napean Grange. In 2011, the developer bought the bungalow spread over half an acre from its erstwhile owners, the Kapadia family, for Rs 350 crore in a record-setting transaction. The bungalow was earlier known as Bansda Residence, built and used by the family of Maharaja of Bansda, a princely state in southern Gujarat.

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