Even though most city dwellers seek out affordable housing and low rents, the demand for luxury homes has increased. Mumbai’s real estate is likely the most expensive in India.
When CEOs of big companies choose to relocate to or make investments in India’s financial capital, they frequently choose areas like Worli and BKC as their preferred locations. The Bajaj Auto Chairman has relocated to one of Mumbai’s most affluent neighbourhoods, Malabar Hill, where he purchased a Rs 252 crore apartment.
India’s real estate market is at the top, the 29th through the 31st floors of a super-luxury tower located in the heights of the South Bombay neighbourhood have been acquired by Niraj Bajaj as a triplex. Bajaj is situated in the centre of the Arabian Sea and Hanging Gardens from the Lodha Malabar penthouse across from the governor’s home. The house, also known as the Emperor’s Palace, is enormous, measuring 18,000 square feet. Bajaj paid Rs. 1.40 lakh per square foot.
The triplex with an eight-car parking space alone has a stamp duty of up to Rs 15 crore. This acquisition exceeds the one made by Welspun Group Chairman BK Goenka last month for a Worli penthouse at Rs 240 crore.