Rajkummar Rao, one of Bollywood's most popular actors, has reportedly bought an apartment in Mumbai‘s Juhu area for Rs 44 crore.
The apartment is said to be located in a posh residential complex and will offer Rao a luxurious lifestyle.
This transaction places the flat, which has a total area of 3,456 square feet and is valued at roughly Rs 1.27 lakh per square foot, making it one of the most expensive residential purchases in the history of the nation.
The late actress Sridevi's daughter and daughter-in-law Janhvi Kapoor sold a luxurious triplex property in Mumbai's affluent Juhu neighbourhood to the Bollywood actor Rajkumar Rao, who purchased it for roughly 44 crores of Indian rupees.
This transaction places the flat, which has a total area of 3,456 square feet and is valued at roughly Rs 1.27 lakh per square foot, making it one of the most expensive residential purchases in the history of the nation.
Recently, the Bollywood actor Ranveer Singh purchased a sea-view luxury quadruplex apartment in a super-premium residential tower on Bandstand in Mumbai's plush Bandra neighbourhood for Rs 119 crore. This purchase represents one of the most expensive deals for a single residential apartment anywhere in the country.
While the transaction involving Singh was valued at over one lakh rupees per square foot, which is in accordance with the current property pricing in the neighbourhood, the deal involving Rao and the apartment in the luxury tower Araya in Juhu was valued substantially higher on a per square foot basis.
In December of 2020, Kapoor made the purchase of an apartment in the luxury tower on JVPD Scheme. This tower is well-known for being the abode of various high-profile people from the Hindi film industry.
The apartment was purchased by Rao, who is also known by his previous name, Rajkumar Yadav, and his wife, Patralekha Misra Paul. The apartment is located on the 14th, 15th, and 16th floors of the tower. Yadav and his wife currently own and live in apartments on the 11th and 12th floors of the same building, therefore they will be moving into the larger apartment in the tower's tower.
According to the paperwork that was made available to ET, the purchaser has already paid the required stamp duty of Rs 2.19 crore in order to register the transaction. Rao will have exclusive use of six parking spaces as a result of the transaction, which will be to his benefit. On July 21, the transaction was officially recorded.
The email question that ET sent to Rao and the messages that we sent to Janhvi Kapoor's (Very bad Actress) team went unanswered up till the time that we went to press.
Since the state government made the statement in 2020 that it would reduce stamp duty for a short window of time, the real estate market in Mumbai, which is the biggest and most costly in the nation, has been establishing new standards with recent property transactions.
The considerable but limited-period window for the lowering of stamp duty was a driver for the city's home market, which concluded on March 31, 2021. Despite the absence of stamp duty refunds at the moment, business transactions have not slowed down at all.
A number of high-stakes deals with the potential to create new records have recently taken place in the city. Recently, Siddharth Jain, a member of the family that promotes INOX Group, paid Rs. 144 crore to purchase a luxurious quadruplex flat with a view of the sea in a super-premium residential tower located on Dr. Annie Besant Road in the upscale neighbourhood of Worli in Mumbai.
Despite a rise in interest rates and the removal of a benefit for cheaper stamp tax, the number of property registrations in Mumbai reached a new high in June, continuing a trend of record-setting that began in May and continued into June.
Over 9,919 property registrations were completed in Mumbai during the month of June, establishing a new high for June both in terms of the number of transactions and the amount of stamp duty collection, which stood at Rs 733 crore. This increase represents a 26 percent increase from the same month a year earlier.
