Marico MD buys luxury apartment in Mumbai?s Worli for Rs 364 million
Real Estate

Marico MD buys luxury apartment in Mumbai?s Worli for Rs 364 million

Saugata Gupta, Managing Director and CEO, Marico, has acquired a luxury apartment in Mumbai?s upscale Worli neighborhood for Rs 364 million. The apartment, spanning nearly 4,372 sq ft, is situated on the 24th floor of a high-end residential project. Gupta and his wife, banker Reema Sen, are co-owners of the property. The purchase values the apartment at Rs 83,264 per sq ft and includes five exclusive car parking slots. The buyers have also paid Rs 21.8 million in stamp duty for the transaction, which was registered on July 29, according to documents from Zapkey.com. In 2023, residential property sales across India?s top eight cities reached unprecedented levels, driven by strong demand in mid-income, premium, and luxury segments. Mumbai led this trend, setting new records in property transactions and achieving notable performance in July. The city's property market saw monthly registration numbers surpass 10,000 in the first seven months of 2024 and has experienced consistent year-on-year growth in registrations since August 2023, highlighting sustained buyer confidence and market strength. (ET)

Saugata Gupta, Managing Director and CEO, Marico, has acquired a luxury apartment in Mumbai?s upscale Worli neighborhood for Rs 364 million. The apartment, spanning nearly 4,372 sq ft, is situated on the 24th floor of a high-end residential project. Gupta and his wife, banker Reema Sen, are co-owners of the property. The purchase values the apartment at Rs 83,264 per sq ft and includes five exclusive car parking slots. The buyers have also paid Rs 21.8 million in stamp duty for the transaction, which was registered on July 29, according to documents from Zapkey.com. In 2023, residential property sales across India?s top eight cities reached unprecedented levels, driven by strong demand in mid-income, premium, and luxury segments. Mumbai led this trend, setting new records in property transactions and achieving notable performance in July. The city's property market saw monthly registration numbers surpass 10,000 in the first seven months of 2024 and has experienced consistent year-on-year growth in registrations since August 2023, highlighting sustained buyer confidence and market strength. (ET)

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?