Real Estate News: Shahid Kapoor spends over ₹60 crore to buy another posh apartment in Mumbai at ₹1 lakh per sq ft

Shahid Kapoor and his wife, Mira Kapoor, bought a sea-view apartment in Mumbai's posh Worli area. The Bollywood star couple paid more than ₹60 crore for it, the Hindustan Times reported. According to registration documents accessed by IndexTap.com, the apartment is in the Oberoi 360 West project.

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The property transaction, worth ₹58.66 crore, was done on May 24, as per HT. Kapoor purchased a new apartment on the 24th floor from Chandak Realtors.

This is Shahid's second purchase in this tower. In 2018, Kapoor and his wife bought a duplex on the 42nd and 43rd floors of the same tower for more than ₹58.57 crore. 

Chandak Realtors bought this apartment for ₹35.31 crore in February 2023. It has now been sold to the Kapoors.

In February 2023, Chandak Realty bought 28 apartments in a large transaction. D'Mart owner Radhakishan Damani, along with his family and close associates, paid ₹1,238 crore for them.

According to HT, the deal was completed on May 24. Chandak Realtors handled it. Kapoor paid ₹1.75 crore as stamp duty to register it. The purchase also comes with three exclusive car parking spots in the tower.

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"The particular apartment was purchased by the Chandak Realty at a price of around ₹65,000 per sqft and it has now been sold at a price of over ₹1 lakh per sq ft. This is over 50% appreciation in a period of one year," HT Digital quoted a real estate consultant, who did not wish to be named, as saying.

Mumbai real estate

After nearly two years of slow activity, luxury homes are becoming popular again in Mumbai, India's most expensive property market. This is because more people want to buy these types of homes.

Piramal Realty, from the Ajay Piramal Group, started a new project in Mumbai's Byculla area. More than four years ago, Piramal Realty bought the seven-acre land from Mafatlal Industries for ₹605 crore. Piramal Realty plans to spend ₹4,300 crore on this project over the next five years.