+
Pharm Easy Co-founder buys duplex apartment at Rs 40 cr in Mumbai
Real Estate

Pharm Easy Co-founder buys duplex apartment at Rs 40 cr in Mumbai

The Co-founder of PharmEasy, Siddharth Shah, bought a 40 crore premium duplex apartment in Khar, Mumbai, which spreads across 5,445 sq ft. The sixth floor of the apartment of the Wadhwa Samarpan will provide him exclusive access to three car parks.

Siddharth, an IIT-Ahmedabad graduate, is the chief executive of API Holdings that runs PharmEasy. The pharmacy has become India's largest online e pharmacy after the acquisition of Medlife and the first Indian start-up e-pharmacy to enter the unicorn club.

On 31 March, the property transaction was concluded, which was the last date to get the benefit of the lower stamp duty by the Maharashtra government. The final registration was made on 20 August. Shah paid Rs 1.50 crore as stamp duty for the transaction.

With the aim to boost the real estate sector, about 260 linked industries encouraging housing sales, the state government has announced stamp duty reduction from 5% to 2% from September to December. Between January and March, the stamp duty was charged at 3%.

Since last year, Mumbai's real estate market has seen several high-value property transactions for several luxury apartments.

Several corporates, business founders, bollywood actors, industrialists, investors, bankers and cricketers have bought luxury apartments during the period.

Image Source


Also read: Promoters of JB Chemicals buy luxury property in Mumbai at Rs 138 cr

The Co-founder of PharmEasy, Siddharth Shah, bought a 40 crore premium duplex apartment in Khar, Mumbai, which spreads across 5,445 sq ft. The sixth floor of the apartment of the Wadhwa Samarpan will provide him exclusive access to three car parks. Siddharth, an IIT-Ahmedabad graduate, is the chief executive of API Holdings that runs PharmEasy. The pharmacy has become India's largest online e pharmacy after the acquisition of Medlife and the first Indian start-up e-pharmacy to enter the unicorn club. On 31 March, the property transaction was concluded, which was the last date to get the benefit of the lower stamp duty by the Maharashtra government. The final registration was made on 20 August. Shah paid Rs 1.50 crore as stamp duty for the transaction. With the aim to boost the real estate sector, about 260 linked industries encouraging housing sales, the state government has announced stamp duty reduction from 5% to 2% from September to December. Between January and March, the stamp duty was charged at 3%. Since last year, Mumbai's real estate market has seen several high-value property transactions for several luxury apartments. Several corporates, business founders, bollywood actors, industrialists, investors, bankers and cricketers have bought luxury apartments during the period. Image Source Also read: Promoters of JB Chemicals buy luxury property in Mumbai at Rs 138 cr

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Assam Gets Approval For 350,000 PMAY Homes

Assam Chief Minister Himanta Biswa Sarma met Union Agriculture Minister Shivraj Singh Chouhan in New Delhi, where the minister handed an approval document for 310,000 new homes under the Pradhan Mantri Awas Yojana. The chief minister subsequently posted on X expressing gratitude and noting that the minister had formally handed approval for 380,000 homes as well. The release and the social media post contained varying figures, with broader references to 350,000 homes reported in some summaries. The approvals carry central assistance equivalent to Rs 50 billion (bn), corresponding to the five th..

Next Story
Infrastructure Urban

KPIGreen Achieves Highest Energised Capacity of 630+ MW DC

KPI Green Energy energised more than 630 MW DC of capacity in the June to August quarter, marking the highest quarterly addition in the company's history. The capacity was brought online across its Independent Power Producer (IPP) and Engineering, Procurement and Construction (EPC) businesses. The company said the achievement reflected the scale, speed and consistency of its project execution engine. The firm described the quarter as a material operational milestone since its founding. The milestone covers a diversified mix of IPP assets and projects executed under the EPC vertical, spanning u..

Next Story
Infrastructure Energy

Adani Energy Solutions Wins Rs 47 bn Maharashtra Transmission Project

Adani Energy Solutions has won a transmission contract in Maharashtra valued at Rs 47 billion (Rs 47 bn) to evacuate 4,500 megawatt (MW) of renewable and storage power. The company informed exchanges that the project will facilitate pumped storage potential near Satara and strengthen the inter-regional corridor between the Western and Southern grids. The award follows a competitive bidding process and will support renewable energy evacuation to major load centres in the state. The scope includes establishment of a 765/400 kV substation at Satara, construction of a Kolhapur-Satara 765 kV double..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code