According to TOI, an industrialist allegedly paid Rs 240 crore for the penthouse in a luxurious Worli skyscraper, resulting in the most costly flat deal in Indian history.
B K Goenka, the CEO of the Welspun Group, reportedly used a group company to just acquire a triplex in 3 Sixty West, a premium complex on Annie Besant Road in Worli. The penthouse of Tower B, according to trade reports, is situated on the 63rd, 64th, and 65th floors.
There is 30,000 sq ft in the penthouse.
To put this penthouse in perspective, consider that a slum family was given a free residence measuring 300 square feet as part of the government’s slum repair program.
According to rumors, the purchaser continued to travel in the apartment, and the transaction was filed on Wednesday.
The country’s ultra-luxury market is expected to see more transactions of this type in the coming years because, as of April 2023, the highest value of capital profits that may be funded under Section 54 is Rs 10 crore. Thus, instant taxation would apply to any capital gain exceeding Rs 10 crore.
To put this penthouse in perspective, consider that a slum family was given a free residence measuring 300 square feet as part of the government’s slum repair program.
According to rumors, the purchaser continued to travel in the apartment, and the transaction was filed on Wednesday.
The country’s ultra-luxury market is expected to see more transactions of this type in the coming years because, as of April 2023, the highest value of capital profits that may be funded under Section 54 is Rs 10 crore. Thus, instant taxation would apply to any capital growth exceeding Rs 10 crore.
The next section of the same building’s second penthouse was bought by builder Vikas Oberoi for Rs 240 crore. Oberoi personally built this magnificent mansion along with industrialist and builder Sudhakar Shetty. It’s suspected that Oberoi bought the penthouse in his own complex through one of his companies, R S Estates Pvt Ltd.
Oberoi’s Oberoi Realty has bought the joint venture, Oasis Realty, which constructed this complex. Oasis Realty is a collaboration between Sudhakar Shetty-owned Sahana and Oberoi Realty.
Oberoi Realty informed the stock exchanges (BSE and NSE) last week that it had bought Three Sixty West for Rs 4,000 crore. It purchased 5.25 lakh sq ft, which comprises 63 apartments, according to Oberoi Realty.