
In one of the largest real estate transactions, Bollywood actor Shahid Kapoor paid Rs 58.66 crore for a 5,614 sq ft property at Oberoi 360 West in Worli. Kapoor bought the flat with his wife, Mira Shahid Kapoor, from Chandak Realty Pvt Ltd.
The flat, located on the 24th floor of Tower B of the Oberoi 360 West, attracted stamp duty of Rs 1.75 crore, and the sale deed was recorded on May 24, 2024, according to the document seen by real estate advice firm IndexTap.
The flat is located on Dr Annie Beasant Road, and Kapoor has also purchased three parking spaces, according to the document. While property registrations in the Mumbai Metropolitan Region (MMR) increased revenue to the state exchequer by 16% in April 2024 compared to the same month last year, developers attribute the rise in demand for property to homebuyers’ aspirations, unchanged ready reckoner (RR) rates, and infrastructure development.
According to a report provided by property consultants Knight and Frank, Mumbai had 11,504 property registrations in April 2024, contributing more than INR 1,043 crore to the state exchequer.
According to the Maharashtra Department of Stamps and Registrations, in April 2024, there was an increase in registration of flats measuring up to 500 square feet, accounting for 45% of all registrations. In contrast, the share of apartments ranging from 500 to 1,000 square feet was 40% during the same period previous year.
The share of larger apartments of 1,000 square feet or more stayed consistent at 15% throughout the year, according to the survey. Of all the properties registered, almost 86% of Western suburb customers and 92% of Central suburb consumers choose to buy within their micro market.
This decision is influenced by the familiarity of the area, as well as the availability of products that meet their pricing and feature preferences.