Halan Family invests Rs 1.04 bn in 8 Sea-View Apartments in Mumbai

23 Jan 2024 CW Team

According to documents obtained from IndexTap.com, four of the acquired apartments are priced at Rs 146.8 million each, while the remaining four are priced at Rs 113.1 million. The family paid a total stamp duty of Rs 62.4 million for the registration of these transactions that occurred in December. Stamp duty for the Rs 146.8 million apartments amounted to Rs 88.11 lakh per deal, while the Rs 113.1 million apartments incurred a stamp duty of Rs 67.88 lakh each.

As part of the agreements, the Halan family also secured exclusive access to 16 car parking slots within the Raheja Modern Vivarea tower. Last year, the promoters of Creative Group of Industries had also acquired eight sea-view luxury apartments in the same tower for nearly Rs 1.55 billion, covering a total area of 24,100 sq ft on the 16th through 21st floors.

Raheja Modern Vivarea is an under-construction project, encompassing 1 million sq ft of development across a 3-acre land parcel. Developed by K Raheja Corp Homes, the residential development arm of K Raheja Corp, the project involves the monetisation of a land parcel that previously housed a private textile mill. The entire project is slated for completion by 2028.

Adjacent to Raheja Vivarea, another premium residential project developed by K Raheja Corp Homes, the land parcel spans 14 acres and accommodates five towers. Notably, the last concluded and registered transaction in Raheja Vivarea in October was priced at over Rs 90,000 per sq ft. In a recent development, Rahul Bajaj's family also acquired five sea-view apartments in Raheja Vivarea for nearly Rs 1.04 billion. K Raheja Corp declined to comment on the matter, and the Halan family could not be reached for a statement.

The Halan family of stock market investors has acquired a total of eight luxury apartments with sea views, spanning a combined area of 16,000 sq ft in the upscale Mahalaxmi locality of south Mumbai. The purchase, valued at nearly Rs 1.04 billion, includes four apartments on the 23rd to 26th floors of the Raheja Modern Vivarea luxury project at Jacob Circle, developed by K Raheja Corp. According to documents obtained from IndexTap.com, four of the acquired apartments are priced at Rs 146.8 million each, while the remaining four are priced at Rs 113.1 million. The family paid a total stamp duty of Rs 62.4 million for the registration of these transactions that occurred in December. Stamp duty for the Rs 146.8 million apartments amounted to Rs 88.11 lakh per deal, while the Rs 113.1 million apartments incurred a stamp duty of Rs 67.88 lakh each. As part of the agreements, the Halan family also secured exclusive access to 16 car parking slots within the Raheja Modern Vivarea tower. Last year, the promoters of Creative Group of Industries had also acquired eight sea-view luxury apartments in the same tower for nearly Rs 1.55 billion, covering a total area of 24,100 sq ft on the 16th through 21st floors. Raheja Modern Vivarea is an under-construction project, encompassing 1 million sq ft of development across a 3-acre land parcel. Developed by K Raheja Corp Homes, the residential development arm of K Raheja Corp, the project involves the monetisation of a land parcel that previously housed a private textile mill. The entire project is slated for completion by 2028. Adjacent to Raheja Vivarea, another premium residential project developed by K Raheja Corp Homes, the land parcel spans 14 acres and accommodates five towers. Notably, the last concluded and registered transaction in Raheja Vivarea in October was priced at over Rs 90,000 per sq ft. In a recent development, Rahul Bajaj's family also acquired five sea-view apartments in Raheja Vivarea for nearly Rs 1.04 billion. K Raheja Corp declined to comment on the matter, and the Halan family could not be reached for a statement.

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