2024-09-26 05:24:38
New Delhi: Utpal Sheth, who was an associate of Rakesh Jhunjhunwala, has bought a luxurious apartment in Mumbai. He has bought this apartment in a building named ‘Oberoi Three Sixty West’ in Worli. The price of this apartment is more than Rs 123 crore. Utpal Sheth, CEO of ‘Rare Enterprises’ has worked with veteran investor Rakesh Jhunjhunwala. When Rakesh Jhunjhunwala was alive, Utpal Seth was called his ride hand. Utpal Seth has recently bought a luxurious apartment in Worli, a posh area of Mumbai. According to the report of Economic Times (ET), the building named ‘Oberoi Three Sixty West’ in which this apartment has been bought is located on Dr. Annie Besant Road. The price of this apartment is said to be more than Rs 123 crore.
What is special about this apartment?
This apartment is on the 54th floor of a tower of ‘Oberoi Three Sixty West’. The total area of this apartment is 15,795 square feet. It also includes a large balcony of 884 square feet. Sheth has bought this apartment along with two other members of his family. He has co-founded a multi-asset financial services platform named ‘Trust Group’. According to the documents, the deal was done on September 15. Stamp duty of Rs 7.40 crore has been paid in this deal.
According to the report, this apartment has been purchased from ‘Skylark Buildcon’ and ‘Moon Rays Realty’ of ‘Sahana Group’. Both these companies work together with ‘Oasis Realty’. ‘Oasis Realty’ has built ‘Oberoi 360 West’. Under this deal, Sheth has also got seven parking slots in ‘Oberoi 360 West’. However, Sheth and ‘Oberoi Realty’ did not give any answer regarding this deal.
Mumbai’s real estate market is booming
Mumbai’s luxury real estate market is booming. A record number of properties were sold in India’s eight largest cities in 2023. The premium and luxury segments have seen a significant increase in demand. Especially in South and Central Mumbai, which have some of India’s most expensive apartments. High-profile buyers such as industrialists, corporate executives, actors and sportspersons have fueled this boom.