Joinwood Reality director buys Sunteck penthouse in Mumbai at Rs 90 cr

31 Jul 2021 CW Team

Director of Joinwood Reality Private Limited, Rajesh Agarwal, has bought a penthouse worth Rs 90 crore at Sunteck Signature Island in Bandra Kurla Complex (BKC), Mumbai.

Agarwal paid the stamp duty on March 31, and the agreement got listed on July 23, according to the documents obtained by the media.

A person aware of the deal told the media that Agarwal, the director of five firms in India, had paid Rs 2.7 crore as stamp duty for this penthouse on the 15th floor.

In December, the Maharashtra government had provided a leeway of four months to homebuyers to register a property after paying stamp duty to avoid crowding at registration offices.

It guaranteed that homebuyers who had bought residences and paid stamp duty on or before March 31 had a maximum time of four months until July 31 from the date of payment of stamp duty respectively for registering their flat.

Agarwal paid the duty on the last day of the decreased rates and made it registered days before the extension.

India Sotheby's International Realty has the order to sell the apartment of Signature Island, which includes 64 exclusive duplex apartments.

The luxury property portion in Mumbai observed buoyancy in the first half of the year, as per the report by Square Yards.

Most of the high-value deals have concluded in the backdrop of the stamp duty decrease declared by the state government and discounts provided by realty developers.

The financial capital of the country has reported deals worth more than Rs 4,000 crore in the first half of 2021, displayed data from Square Yards.

As per the report, more than 45% of the houses acquired in the above Rs 15 crore category were valued between Rs 15-20 crore, while 40% were of Rs 20-30 crore. Less than 10% of the transactions dropped in the Rs 30-50 crore budget bracket, while houses valued over Rs 50 crore made 7% of the total share.

Approximately 60% of the total transactions gained came from residential projects in Lower Parel. About 60% of all the transactions were listed at 2% stamp duty, citing that the slashed stamp duty charges pushed a significant uptick in the luxury segment in Q1, 2021.

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Also read: Raheja's purchase three duplexes at Rs 427 cr from own project in Worli

Director of Joinwood Reality Private Limited, Rajesh Agarwal, has bought a penthouse worth Rs 90 crore at Sunteck Signature Island in Bandra Kurla Complex (BKC), Mumbai. Agarwal paid the stamp duty on March 31, and the agreement got listed on July 23, according to the documents obtained by the media. A person aware of the deal told the media that Agarwal, the director of five firms in India, had paid Rs 2.7 crore as stamp duty for this penthouse on the 15th floor. In December, the Maharashtra government had provided a leeway of four months to homebuyers to register a property after paying stamp duty to avoid crowding at registration offices. It guaranteed that homebuyers who had bought residences and paid stamp duty on or before March 31 had a maximum time of four months until July 31 from the date of payment of stamp duty respectively for registering their flat. Agarwal paid the duty on the last day of the decreased rates and made it registered days before the extension. India Sotheby's International Realty has the order to sell the apartment of Signature Island, which includes 64 exclusive duplex apartments. The luxury property portion in Mumbai observed buoyancy in the first half of the year, as per the report by Square Yards. Most of the high-value deals have concluded in the backdrop of the stamp duty decrease declared by the state government and discounts provided by realty developers. The financial capital of the country has reported deals worth more than Rs 4,000 crore in the first half of 2021, displayed data from Square Yards. As per the report, more than 45% of the houses acquired in the above Rs 15 crore category were valued between Rs 15-20 crore, while 40% were of Rs 20-30 crore. Less than 10% of the transactions dropped in the Rs 30-50 crore budget bracket, while houses valued over Rs 50 crore made 7% of the total share. Approximately 60% of the total transactions gained came from residential projects in Lower Parel. About 60% of all the transactions were listed at 2% stamp duty, citing that the slashed stamp duty charges pushed a significant uptick in the luxury segment in Q1, 2021. Image Source Also read: Raheja's purchase three duplexes at Rs 427 cr from own project in Worli