Bollywood film producer and director Dinesh Vijan has purchased a luxury duplex apartment spread over nearly 7,800 sq ft in a super-premium residential tower Rustomjee Parishram in Mumbai’s plush Pali Hill area in Bandra suburb for nearly Rs 103 crore.
The transaction for the house spread across 15th and 16 floors of the under-construction tower values it at over Rs 1.32 lakh per sq ft, making it one of the most expensive deals for a residential property anywhere in the country.
Vijan, who left his banking job in 2004 to pursue films, is the founder of Maddock Films and has produced movies including Being Cyrus, Stree, Cocktail and Hindi Medium.
The buyer has paid over Rs 6.17 crore as stamp duty alone for the registration of the deal that took place on Tuesday, shows documents accessed through Indextap.com. Vijan has bought the property directly from developer Rustomjee Group’s listed entity Keystone Realtors.
The deal ranks high in terms of valuation of Rs 1.13 lakh per rate even on the basis of the house’s built-up area of 9,077 sq ft.
The project, which involves redevelopment of a housing society, is spread over nearly half an acre and is currently under construction. The 22-storey development comprises 17 habitable floors and Vijan’s new house will be on the higher floors with a partial view of the sea.
Apart from personalities from the Hindi film industry, the micro market of Bandra and Juhu counts many industrial and corporate world biggies as its prominent residents.
Mumbai, the country’s largest and most expensive real estate market, has been setting new benchmarks with property transactions. Several large-ticket record-setting transactions involving industrialists, CXOs, actors, and sports personalities have been taking place in the country’s commercial capital since the last few quarters.
Among Bollywood personalities, luxury residential deals including that of Amitabh Bachchan, Ranveer Singh, Hrithik Roshan, Rani Mukherjee, Kartik Aryan, Alia Bhat, and Disha Patani have created the buzz in the property market.
Recently, Siddharth Jain, part of INOX Group’s promoter family, had bought a sea-view luxury quadruplex apartment in a super-premium residential tower on Dr. Annie Besant Road in Mumbai’s tony locality of Worli for Rs 144 crore.