Mumbai apartment sells for record Rs.202 crore

MERAmumbaipartmtA prominent industrialist is buying a sea-facing triplex penthouse apartment in Mumbai’s Napean Sea Road for Rs.202 crore – the highest ever paid for a residential apartment in India.

The luxury pad has a 17,000 sq ft of carpet area and is spread over the 20th, 21st and 22nd floors of the Residence that is being built by the Runwal Group.

The penthouse also offers a stunning view of the Arabian Sea and the Queen’s Necklace, and includes 21 parking slots. Other amenities include a club house and swimming pool and the provision of an international concierge for the 30 apartments being built in two wings.

The buyer has made a token payment under an agreement and the deal that comes to a whopping Rs.120,000 per sq ft is to be concluded over the next month.

The apartment complex is being built on land that housed a bungalow belonging to the Kapadia family, originally by the family of the Maharaja of Bansda, Gujarat.

Given the otherwise sluggish state of the realty market, Mumbai is ahead in building homes for the uber rich in prime localities.