Priyanjali Mariwala, from the promoter family of consumer goods company Marico, has purchased a luxury apartment in Mumbai?s Bandra-Kurla Complex (BKC) for Rs 650 million. She acquired the nearly 8,300 sq ft apartment on the first floor of the super-premium residential tower Signature Island from Starlight Systems, part of the project?s developer, Sunteck Realty.

Given the apartment's location on the lower floor, the deal values the property at Rs 78,690 per sq ft. The transaction includes exclusive access to four car parking slots. Mariwala paid a stamp duty of Rs 32.6 million for the registration of the deal, which was sealed on July 1, as shown by Zapkey.com documents.

In 2021, the Maharashtra government announced a 1% concession on prevailing stamp duty for women homebuyers, reducing the charge to 5% for female buyers in Mumbai.

Priyanjali Mariwala, wife of Rishabh Mariwala, leads the ASCENT Foundation, a non-profit organisation founded by Marico Chairman Harsh Mariwala. The foundation supports high-potential, growth-ready entrepreneurs to scale their enterprises and enhance their entrepreneurial journeys.

The source?s email queries to Mariwala and Sunteck Realty went unanswered at the time of publication. Several notable figures from the corporate world, Bollywood, and the banking sector have purchased apartments in this residential project. Among the buyers are Uday Kotak, Gautam Adani, Vikram Pandit, Gunit Chaddha, Mihir Doshi, actress Aishwarya Rai Bachchan, Ashok Wadhwa, and Sonam Kapoor.

In 2021, Abbott Healthcare leased a 5,000 sq ft apartment in this tower for a monthly rental of around Rs 100,000. The total lease tenure of 36 months amounted to over Rs 36 million. The luxury apartment was intended for a CXO of the company, given its proximity to their corporate office. Current lease rentals in this tower range around Rs 150,000 per month for a smaller duplex and Rs 200,000 for a larger duplex apartment.

(Source: ET)