EBCO's promoter buys apartment in Mumbai's Worli for Rs 1.15 Bn
Real Estate

EBCO's promoter buys apartment in Mumbai's Worli for Rs 1.15 Bn

Ashley Biharilal Nagpal, promoter of furniture company EBCO, has purchased a luxury apartment in a super-premium residential tower in Mumbai's upscale Worli area for over Rs 115.5 crore. The transaction values the apartment at nearly Rs 1.62 lakh per sq ft, based on the carpet area of 7,139 sq ft, making it one of the country's most expensive residential property deals.

Nagpal, along with his wife Bianca A Nagpal, acquired the property on the 60th floor, or 44th habitable floor, of Oberoi 360 West from the developer, Oberoi Realty. In addition to the carpet area, the apartment includes an extra 164 sq ft of space. As the same apartment had been registered within the past three years, attracting a stamp duty of Rs 2.86 crore, the new buyer paid a differential stamp duty of Rs 4.55 crore, according to documents accessed via Zapkey.com. The deal, registered on 28 August, also grants the buyers exclusive access to five car parking spaces in the tower.

Residential property sales in India's top eight cities have been rising over the past three years, driven by strong demand across mid-income, premium, and luxury segments. Mumbai, the country's largest and most expensive real estate market, has led this trend, consistently breaking records in property transactions and achieving impressive monthly performance. Despite higher mortgage rates and rising property prices, the city recorded its best-ever August performance, driven by strong sales and stamp duty collections. Mumbai's sales momentum has remained robust, with over 10,000 units registered monthly for the first eight months of 2024, marking eleven consecutive months of annual growth since August 2023.

Ashley Biharilal Nagpal, promoter of furniture company EBCO, has purchased a luxury apartment in a super-premium residential tower in Mumbai's upscale Worli area for over Rs 115.5 crore. The transaction values the apartment at nearly Rs 1.62 lakh per sq ft, based on the carpet area of 7,139 sq ft, making it one of the country's most expensive residential property deals. Nagpal, along with his wife Bianca A Nagpal, acquired the property on the 60th floor, or 44th habitable floor, of Oberoi 360 West from the developer, Oberoi Realty. In addition to the carpet area, the apartment includes an extra 164 sq ft of space. As the same apartment had been registered within the past three years, attracting a stamp duty of Rs 2.86 crore, the new buyer paid a differential stamp duty of Rs 4.55 crore, according to documents accessed via Zapkey.com. The deal, registered on 28 August, also grants the buyers exclusive access to five car parking spaces in the tower. Residential property sales in India's top eight cities have been rising over the past three years, driven by strong demand across mid-income, premium, and luxury segments. Mumbai, the country's largest and most expensive real estate market, has led this trend, consistently breaking records in property transactions and achieving impressive monthly performance. Despite higher mortgage rates and rising property prices, the city recorded its best-ever August performance, driven by strong sales and stamp duty collections. Mumbai's sales momentum has remained robust, with over 10,000 units registered monthly for the first eight months of 2024, marking eleven consecutive months of annual growth since August 2023.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?