Washington-based contract management software company Icertis’ co-founder and chief technology officer Monish Darda has purchased a luxury residential apartment in Mumbai’s plush Juhu locality for nearly Rs 38 crore.
The deal values the apartment with carpet area of 3,055 sq ft at over Rs 1.24 lakh per sq ft, a high for the locality known for the properties of Bollywood actors, directors, and producers. Given the per sq ft rate, the transaction will also enter the tally of most expensive residential deals in the country.
Darda has bought the apartment on the 12th floor of premium project Vartamaan on Juhu-Versova Link Road. As part of the deal, he will get 6.39% undivided right, title and interest share in land and common areas of the building.
The buyer has paid stamp duty of nearly Rs 2.28 crore for the registration of the transaction that took place on January 18, showed the documents accessed through Zapkey.com that aggregates publicly available registration data.
As per the agreement, the buyer will also get exclusive access to four stilt car parking spaces of over 107 sq ft each.
The project Vartamaan, previously known as Mannat, is a standalone tower with 17 floors, was built by realty developer Samir Bhojwani. Several prominent personalities and entities including Bollywood actor Hrithik Roshan and Super Cassettes Industries, which operates under the T-Series brand, have bought apartments in this tower.
Darda has bought the apartment from Steesha Samir Bhojwani, a relative of the project’s developer Samir Bhojwani.
In 2021, Super Cassettes Industries had bought an apartment in this tower for around Rs 25.59 crore, while Hrithik Roshan had purchased two apartments spread across three floors in this project for little under Rs 100 crore.
Apart from personalities from Hindi film industry, Juhu counts many industrial and corporate world biggies as its prominent residents. Recently, actors Vicky Kaushal and Katrina Kaif shifted to their residence here, while cricketer Virat Kohli and his actress wife Anushka Sharma also moved in here some time ago.
Mumbai, the country’s biggest and most expensive property market, has continued the robust momentum of real estate sales in January despite rising mortgage rates and property prices as consumer sentiment towards home buying remains strong.
Several corporate personalities, business founders, industrialists, and Bollywood actors, including Amitabh Bachchan, Ranveer Singh, Hrithik Roshan, Rani Mukherjee, Alia Bhat, Disha Patani, corporate honchos, investment bankers and cricketers have bought luxury apartments and registered their deals in the last few quarters.
The registrations performance has catapulted the month to the second-best January ever, while the stamp duty collection figures are the best for any January. The peak of registration in the first month of the year was seen in January 2021, when the benefit of lower stamp duty was available.