A penthouse in a Worli luxury tower has been reportedly sold for whopping Rs 240 crore to a well known businessman in one of the biggest deals made in real estate in India.
According to reports, B K Goenka, the head of the Welspun Group, recently purchased a triplex in Three Sixty West, an opulent development on Annie Besant Road in Worli, using a group firm. The 30,000 square feet penthouse, a triplex, is part of a luxury project at Annie Besant Road in Worli.
In 2020, the leading real estate developer in the country had also taken over Sahana Group’s stake in the luxury property. The group has also concluded the ₹3,403 crore worth purchase of 63 residential units spread over 5 lakh square feet in the hospitality project at Worli.
Market experts are expecting more such deals in the near future in the ultra-luxury segment in the country because the maximum amount of capital gains that may be invested under Section 54 as of April 2023 is Rs 10 crore.
In another land transaction, Oberoi Realty announced Friday that it has shelled out ₹192 crore to purchase an area of 8 acres in Thane, Maharashtra. The arrangement was finalized in agreement with air-conditioning and commercial refrigeration company Blue Star Ltd (BSL).
“This is the costliest apartment sold to date in India. We anticipate more deals in the ultra-luxury segment in the next two months because from April 2023, the capital gains allowed to be invested under Section 54 have been limited to Rs 10 crore. So, any capital gain above Rs 10 crore would be automatically taxed (as applicable),” Pankaj Kapoor, founder and MD of Liases Foras, a real estate rating and research firm, was quoted as saying in a report of Times of India.