Bollywood actress Madhuri Dixit-Nene has purchased a sea-view luxury apartment in a super-premium residential project Indiabulls Blu on Dr. E Moses Road in Mumbai’s upscale Worli locality for Rs 48 crore.
The deals value the apartment at nearly Rs 90,000 per sq ft, pushing it in the tally of the largest deals for residential apartments in terms of value anywhere across the country so far this year.
The apartment on the 53rd habitable floor of tower C is spread over 5,384 sq ft and offers views of Arabian Sea and the Mahalaxmi Race Course.
The actress has paid Rs 2.4 crores as stamp duty alone for the registration of this transaction that took place on September 28. The deal has attracted 1% lower stamp duty of 5% as the homebuyer is a woman. In 2021, the government of Maharashtra had announced a 1% concession in prevailing stamp duty for women homebuyers.
As part of the agreement, Dixit-Nene will get exclusive access to a total seven car parking slots, showed the documents accessed through zapkey.com that aggregates publicly available registration data.
Last month, listed pharmaceutical company Eris Lifesciences’ Chairman & Managing Director Amit Bakshi purchased a super-luxury sea-view apartment in a nearly-completed mixed-use skyscraper Three Sixty West in Mumbai’s plush Worli locality for Rs 61 crore. That deal has valued the apartment on the 30th habitable floor of the tower at around Rs 94,500 per sq ft.
Indiabulls Blu, a luxury residential project, counts businessmen, entrepreneurs and CXOs among its residents. The integrated project spread over total 10 acres with one of the lowest densities has so far witnessed outright transactions ranging up to Rs 100 crore.
Late last year, the actress had picked up another sea-view luxury apartment spread over 5.500 sq ft in the same project on the 29th floor through a lease with a total tenure of 36 months. The family had already started the interior and fit out work in this apartment. It could not be ascertained if this lease will continue or be cancelled now that she has acquired this new apartment on a higher floor.
Mumbai, the country’s largest and most expensive real estate market, has been setting new benchmarks and records with respect to property transactions for more than a year since September 2020, when the state government announced a limited window stamp duty reduction.
The significant but limited period stamp duty reduction window that ended on March 31, 2021 was a key catalyst for the city’s residential market. While the benefit of lower stamp duty is not available anymore, the deals have continued to flow in.
