The promoter group of Everest Food Products, known for Everest brand of spices, has purchased two more sea-view luxury apartments in a super-luxury residential tower on Dr. Annie Besant Road in Mumbai’s plush Worli locality for more than Rs 143.50 crore, boosting the total deal size to more than Rs 213 crore.
The family had recently bought an apartment on the 53rd floor of Oberoi Three Sixty West, with a total area of over 6,921 sq ft, for Rs 73.50 crore. In the latest transactions, the Everest promoter family has purchased an adjacent apartment on the same floor while the second apartment is of the same size on the 50th floor of the tower.
The second apartment on the 53rd floor was purchased directly from the project developer Oberoi Realty while the apartment on the 50th floor was bought from a separate entity, SKS Infrabuild, showed the documents accessed through IndexTap(dot)com.
The deals for the two additional apartments were registered on November 7 and November 29. These two apartments will provide the buyers exclusive access to 8 car parking slots, taking their total car parking slots in the tower to 14.
Started in 1967, Everest Food Products is India’s largest manufacturer and among the major exporters of pure and blended spices.
The apartment on the 53rd floor has been 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.
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.
The developer had also purchased a luxury penthouse from Sahana Group 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.