The promoter group of Everest Food Products, known for its Everest brand of spices, has purchased a sea-view luxury apartment in a super-luxury residential tower on Dr. Annie Besant Road in Mumbai’s plush Worli locality for more than Rs 73.50 crore.
The apartment spread over 6,130 sq ft carpet area is located on the 37th habitable floor of the Oberoi Three Sixty West tower. The deal is valued at over Rs 1.16 lakh per sq ft.
The buyer struck the deal with the project developer Oberoi Realty and the apartment was registered on October 30.
As part of the deal, the buyer will also get access to an additional 164 sq ft area adjacent to the apartment and a total of six car parking slots, showed documents accessed through Zapkey.com.
The buyer has paid nearly Rs 2.41 crore as stamp duty for registration of the apartment. The apartment was sold by Oberoi Realty within three years of acquiring it from its joint venture partner Sahana Group.
As per the set-off period rules, the state exchequer collects only stamp duty on the profit from the transaction if the property is resold within three years of its original acquisition agreement with the developer.
Started in 1967, Everest Food Products is India’s largest manufacturer and among the major exporters of pure and blended spices.
Three Sixty West is a mixed-use development comprising two towers, one of which houses The Ritz-Carlton Hotel and the other will have luxury residences managed by The Ritz-Carlton.
The apartment is part of over 60 acquired by Oberoi Realty in this project from its developer Oasis Realty, a joint venture between the company and Sahana Group. Oberoi had paid a total of Rs 4,000 crore to Sahana to buy out its inventory in the project.
Oberoi Realty had also purchased a luxury penthouse in the same project 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 a similar size in Oberoi Three Sixty West for Rs 230.55 crore.