representative image Mumbai, KKR IndiaChief Executive Officer of Gaurav Trehan Have purchased a sea view luxury apartment In Morena House, a super-premium project in the luxurious location of South Mumbai. Carmichael Road approximately Rs 88 crores from JSW RealtyA real estate development arm of JSW Group.
Spread over a carpet area of 5,381 sq ft, the deal for the apartment is priced at around Rs 1.63 lakh per sq ft, making it one of the most expensive property transactions in the country.
The buyer has paid Rs 5.26 crore as stamp duty charges alone for registration of the deal. Apart from being the CEO of KKR India, Trehan is also co-head of KKR Asia Pacific and head of Asia Pacific private equity.
As part of the agreement, which was concluded and registered on October 18, Trehan will also get exclusive access to four parking slots, documents obtained through realty data analytics firm Zapkey.com reveal. The property has a balcony and deck area of 434 square feet.
Windsor Residency, a division of JSW Realty, has developed the luxury residential project Murray House on the plot of Murray House Bungalow, which the company purchased in 2008. Earlier, the single-storey terraced bungalow housed the Belgian Consulate in India. ,
The substantial market value of the property reflects the ongoing demand for high-end real estate in Mumbai, where prime locations continue to attract affluent buyers.
JSW Realty did not respond to ET’s email query, while Trehan declined to comment.
Residential property sales in the top eight cities reached an all-time high in 2023 and continue to perform well so far this year due to strong demand in the mid-income, premium and luxury segments.
Mumbai has been leading the way as the country’s largest and most expensive property market as it continues its record-setting spree in terms of property deals.
Registrations have increased year-on-year for 15 consecutive months starting August 2023, and have crossed the Rs 10,000 mark in each of the first 10 months of 2024.
South and central Mumbai, home to India’s most expensive apartments, are playing a key role in driving this performance. The last few years witnessed many big transactions involving industrialists, top corporate executives, actors and sports personalities in micro markets.
