Suraksha Realty Directors Buy Rs 100-Cr Luxury Apartments in Mumbai’s Worli

Source: The Economic Times

Two lavish apartments facing the sea in Worli, Mumbai have been acquired by Paresh Parekh and Vijay Parekh, directors of real estate company Suraksha Realty, for a total amount of Rs 100 crore.

The top floors of the ultra-luxury project Naman Xena are where the apartments are located. The carpet area of each of these apartments is 6,458 sq ft on the 26th and 27th floors of the tower that is still under construction. The buyers have shelled out Rs 6 crore as stamp duty only for the registration that occurred on November 7. They have purchased the apartments costing Rs 50 crore each from Shree Naman Residency, the builder of the project itself.

According to the agreement, the buyers will also get access to 8 car parking spaces along with their apartments, as per the documents accessed through Indextap.com.

The under-construction project with 27 floors has a total development of 4.72 lakh sq ft and covers more than 0.6 acres of land across the Worli Sea face. The high-rise structure has a bare shell floor plate that allows buyers to customize their apartments according to their preferences, and the luxury pads can be designed to be duplex apartments.

Paresh Parekh did not respond to phone calls till the time of publishing this article. Mumbai, the most expensive and largest property market in the country, has maintained its record-breaking streak by registering its best October performance ever as demand was strong and its conversion in actual sales increased with the start of the festive season in spite of higher property prices and mortgage rates.

The commercial capital of the country saw a registration of 10,566 properties during the month, which is 25.5% higher than a year ago. Revenue collection through stamp duty charges increased 15% on-year to contribute over Rs 833 crore to the state’s exchequer, as per data from the inspector general of registration, Maharashtra.