Last Update: January 25, 2023, 15:52 IST
J Kumar Infra Projects MD Nalin Gupta and his wife Shalini have bought two luxurious bungalows on a plot in Mumbai’s Vile Parle for Rs 50 crore. According to a report by real estate advisory firm IndexTap.com, Nalin and his wife Shalini bought these two bungalows of over 5,600 sq ft in the Ashok Nagar Cooperative Housing Society. The seller of the bungalows is a certain Akshay Mehta.
https://www.moneycontrol.com/news/business/real-estate/md-of-j-kumar-infraprojects-buys-two-bungalows-for-rs-50-crore-in-mumbai-9928841.html
The premium residential prices in the city are set to increase through 2022 despite a 225 bps hike in benchmark lending rates by the RBI last year. According to a recent survey conducted by real estate firm India According to Sotheby’s International Realty, 33 per cent of High-Net-Worth Individuals (HNIs) and Ultra High-Net-Worth Individuals (UHNIs) are ready to pay more than Rs 10 crore to buy a luxury property in Mumbai.
Last year, filmmaker BR Chopra’s family sold their Juhu bungalow, BR House, to K Raheja Corp for Rs 183 crore. Writer Siddharth Dhanwant Shanghvi sold his Juhu bungalow to Agarwal Holdings in 2021 for Rs 84.75 crore.
Bollywood actress Sonam Kapoor grabbed headlines a few weeks back for selling her luxury apartment in Mumbai’s Bandra-Kurla Complex for Rs 32.5 crore. He had bought the plush property in 2015 for Rs 31.5 crore.
India’s financial capital saw a 1 per cent increase in average capital values for completed properties and a 3 per cent increase in average capital values for under-construction properties, revealed another report by real estate advisory firm Savills India.
“The micro-markets of Navi Mumbai and Thane witnessed significant growth of 3 per cent-8 per cent, owing to steady demand for completed as well as under-construction properties,” read Savills India’s statement.
Mumbai’s red-hot housing market can also be attributed to the fact that the pandemic has subsided to a great extent. As professionals have returned to their workplaces, a mixed working model has been adopted by most of the companies. Hence, there has also been a spurt in demand in the rental market as end-users are looking to rent bigger homes in residential complexes that offer all creature comforts.
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