Avener Capital along with its group entity Bajaj Consultants has bought a luxury sea-view duplex apartment in a super-premium residential tower on Dr. Annie Besant Road in Mumbai’s plush Worli locality for over Rs 100.70 crore.
The apartment spread over 9,593 sq ft on the 21st and 22nd floor of the tower Oberoi Three Sixty West is valued at Rs 1.04 lakh per sq ft basis the total consideration.
The buyers have purchased the apartment from the project developer Oberoi Realty and the deal was registered on March 24. The deal has attracted stamp duty of over Rs 2.90 crore.
As part of the agreement, the buyers will also get exclusive access to five car parking slots, showed the documents accessed through IndexTap(dot)com.
The duplex is part of over 60 apartments acquired by Oberoi Realty in this super-luxury project from its developer Oasis Realty, the joint venture between the company and Sahana Group.
Oberoi Realty had paid aggregate consideration of Rs 4,000 crore for these deals as part of the process to buyout the partner by picking up Sahana’s inventory in the project.
The developer had also purchased a luxury penthouse in the project developed by the company itself through the joint venture with Sahana Group for Rs 230.55 crore, making it one of the largest single apartment deals ever in India. Welspun Group’s BK Goenka too bought a penthouse of similar size in Oberoi Three Sixty West for Rs 230.55 crore.
Sale of luxury properties has gone up following the announcement in Union Budget 2023-24 to limit the deduction from capital gains on investment in residential property to Rs 10 crore from April 1.
Mumbai, the country’s largest and most expensive property market, has continued to set new records almost every month for over the last two years despite higher interest rates and rising housing prices.
The performance in terms of stamp duty collection led by the premium and mid-income housing segments have pushed the state exchequer’s revenue higher for several months.