Mahyco's promoter family buys apartment in Mumbai
Real Estate

Mahyco's promoter family buys apartment in Mumbai

The promoter family of the major biotechnology and seed company Maharashtra Hybrid Seeds Co (Mahyco) has paid more than $120 million for a luxury flat with a sea view in south Mumbai's Malabar Hill from real estate developer Lodha Group's listed company Macrotech Developers in one of the priciest real estate deals ever.

The apartment, which spans a total of almost 9,546 square feet on the second story of the ultra-luxury residential skyscraper Lodha Malabar on Walkeshwar Road, was purchased by the buyer Rajendra Barwale, director of Mahyco, along with his wife and son.

The flat is valued at Rs 1.28 lakh per square foot, placing it higher in the list of the most expensive homes ever sold in India. A private balcony and patio area that is enclosed to the apartment are included in the overall area.

According to the records retrieved by Indextap(dot)com, the deal was completed and registered on June 30 and the buyers paid 73.3 million in stamp duty alone for its registration. The Barwale family will also get exclusive use of six parking spaces in the residential tower as part of the agreement.

The promoter family of the major biotechnology and seed company Maharashtra Hybrid Seeds Co (Mahyco) has paid more than $120 million for a luxury flat with a sea view in south Mumbai's Malabar Hill from real estate developer Lodha Group's listed company Macrotech Developers in one of the priciest real estate deals ever. The apartment, which spans a total of almost 9,546 square feet on the second story of the ultra-luxury residential skyscraper Lodha Malabar on Walkeshwar Road, was purchased by the buyer Rajendra Barwale, director of Mahyco, along with his wife and son. The flat is valued at Rs 1.28 lakh per square foot, placing it higher in the list of the most expensive homes ever sold in India. A private balcony and patio area that is enclosed to the apartment are included in the overall area. According to the records retrieved by Indextap(dot)com, the deal was completed and registered on June 30 and the buyers paid 73.3 million in stamp duty alone for its registration. The Barwale family will also get exclusive use of six parking spaces in the residential tower as part of the agreement.

Next Story
Infrastructure Urban

Vedanta Secures AA+ Rating from ICRA

Vedanta Group has received its highest domestic credit rating in over a decade after ICRA upgraded the long-term ratings of Vedanta Limited and Vedanta Aluminium Metal Limited to AA+ with a Stable outlook. Talwandi Sabo Power Limited was also upgraded to AA-/Stable from A+/Watch Developing, while the group’s short-term rating was reaffirmed at A1+.The rating action marks Vedanta’s highest domestic credit rating since 2014. Vedanta Limited and Vedanta Aluminium Metal Limited, two of the largest entities emerging from the demerger, together account for over 75 per cent of the group’s long-..

Next Story
Infrastructure Urban

Netrasemi Launches Edge AI Chip A2000

Fabless semiconductor startup Netrasemi has launched its flagship Edge AI system-on-chip, A2000, after achieving successful silicon bring-up. Fabricated at TSMC’s 12 nm technology node, the chip is designed for on-device AI, smart vision, real-time video analytics and secure edge computing.A2000 features Netrasemi’s in-house Neural Processing Unit, Vision Processing Unit, Image Signal Processor, crypto engines and other hardware acceleration IP cores. It also uses the company’s patented heterogeneous graph-stream parallel processing architecture.The chip targets applications such as smar..

Next Story
Infrastructure Energy

Sigenergy Launches AI Agent For Energy Systems

Sigenergy has introduced SigenAgent, described as the energy industry’s first all-domain AI agent, during its ‘AI in All’ event. The platform is designed to move solar-and-storage systems from reactive hardware to autonomous, goal-driven energy systems for households and businesses.SigenAgent works through a continuous loop of perception, reasoning and action. It analyses real-time factors such as weather patterns, electricity prices and grid conditions to determine and execute the most efficient operating strategy. Users can set broad goals, such as reducing electricity bills or securin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

-->