2024-06-08 00:02:51
New Delhi: Two flats in Worli space of Mumbai have been offered for Rs 170 crore. Karan Bhagat, founder, MD and CEO of wealth administration 360 ONE, has purchased two luxurious flats in a super-premium residential tower within the posh Worli space of Mumbai. Their complete price is Rs 170 crore. These flats are on the forty fifth and forty sixth flooring of the Three Sixty West undertaking on Dr. Annie Besant Highway. Situated in an space of 12,900 sq. ft, these flats supply a spectacular view of the Arabian Sea. Bhagat will even get the ability of eight automobile parking slots with these flats. The deal has been executed at a price of round Rs 1.31 lakh per sq. foot and is without doubt one of the most costly actual property offers within the nation. Bhagat based 360 ONE in 2008 alongside along with his colleagues. It was earlier often known as IIFL Wealth and Asset Administration. This firm is at present one of many largest wealth and asset administration companies within the nation. It manages over $56.3 billion in belongings. Bhagat’s crew works with and for round 7,200 prime households in India. These embrace industrialists, new-age expertise founders and main CEOs, professionals together with attorneys, sportspersons and artists. It additionally manages cash for a few of the largest sovereign establishments and college endowments within the US, Canada and the Center East.
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Stamp obligation of Rs 6.44 crore
Based on paperwork, the client paid greater than Rs 6.44 crore as stamp obligation for the registration of those offers on Wednesday. Bhagat has purchased these flats immediately from Oberoi Realty, which is a part of a three way partnership with Oasis Realty, the developer of this undertaking. Each the flats have been offered by Oberoi Realty inside three years of buy from three way partnership companion Sahana Group. As per the set-off interval guidelines, the Maharashtra authorities will get stamp obligation on the revenue from a transaction provided that the property is resold inside three years of the unique acquisition settlement with the developer.
Bhagat declined to remark, whereas Oberoi Realty didn’t reply to an emailed question. Three Sixty West is a mixed-use undertaking comprising two towers. One in all these will home The Ritz-Carlton resort and the opposite can have luxurious flats managed by The Ritz-Carlton. The flats purchased by Bhagat are a part of the over 60 flats acquired by Oberoi Realty within the undertaking from its developer Oasis Realty. The corporate had paid a complete of Rs 4,000 crore to Sahana to purchase its stock within the undertaking. The developer had additionally purchased a luxurious penthouse from Sahana in the identical undertaking for Rs 230.55 crore, one of many largest single condominium offers ever in India. BK Goenka of the Welspun Group had additionally purchased a penthouse of comparable measurement in Oberoi Three Sixty West for Rs 230.55 crore.