Chandler & Price buys Rs 93 cr Laburnum house in South Mumbai
Real Estate

Chandler & Price buys Rs 93 cr Laburnum house in South Mumbai

Chandler and Price Private Limited has bought a four-storey building, Laburnum house, in South Mumbai’s Laburnum Road, for Rs 93 crore. The building covers an area of 9,375 sq ft, having parking space for seven cars.

The property was sold by the Amersey family, who had lived there for many years. Laburnum Road lies under the Gamdevi heritage precinct and is one of the most expensive neighbourhoods in Mumbai.

Chairman and Managing Director of Nesco Limited, Krishna Patel, said that Inaya Living, a brand of Chandler and Price developed uber-luxury properties. This property will be used for the personal use of the company and their families.

Luxury housing demand has increased during the Covid-19 pandemic. Facilities, including low-interest rates, developer discounts and offers, and various government policies like reducing stamp duty in Maharashtra, boosted housing momentum.

Founder and Managing Director of Liases Foras Real Estate Research and Rating Private Limited, Pankaj Kapoor, said that large ticket transactions would continue in future. Most deals in the luxury housing segment are happening at sub-market prices.

Luxury housing sales increased during January-September 2021. The first three quarters of the last financial year witnessed sales of 145,650 housing units in seven major cities, out of which luxury housing had 12% sales.

Image Source

Also read: Stamp duty collection in Maharashtra declines 17% in Oct-Nov

Also read: Essar Steel buys Rs 42 cr luxury apartment in Mumbai's Samudra ...

Chandler and Price Private Limited has bought a four-storey building, Laburnum house, in South Mumbai’s Laburnum Road, for Rs 93 crore. The building covers an area of 9,375 sq ft, having parking space for seven cars. The property was sold by the Amersey family, who had lived there for many years. Laburnum Road lies under the Gamdevi heritage precinct and is one of the most expensive neighbourhoods in Mumbai. Chairman and Managing Director of Nesco Limited, Krishna Patel, said that Inaya Living, a brand of Chandler and Price developed uber-luxury properties. This property will be used for the personal use of the company and their families. Luxury housing demand has increased during the Covid-19 pandemic. Facilities, including low-interest rates, developer discounts and offers, and various government policies like reducing stamp duty in Maharashtra, boosted housing momentum. Founder and Managing Director of Liases Foras Real Estate Research and Rating Private Limited, Pankaj Kapoor, said that large ticket transactions would continue in future. Most deals in the luxury housing segment are happening at sub-market prices. Luxury housing sales increased during January-September 2021. The first three quarters of the last financial year witnessed sales of 145,650 housing units in seven major cities, out of which luxury housing had 12% sales. Image Source Also read: Stamp duty collection in Maharashtra declines 17% in Oct-Nov Also read: Essar Steel buys Rs 42 cr luxury apartment in Mumbai's Samudra ...

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?