Bandra is the most sought after locality for the rich and famous in Mumbai and people are willing to splurge any amount of money just to own a house there and Karisma Kapoor's 675 sq ft apartment's sale is the living proof that rich buyers are always ready for Bandra, no matter what the prices are.
Karisma Kapoor transferred the rights of her apartment to Silver Birch Real Estate Pvt Ltd, for a whopping Rs 1.03 Lakh/sq ft totalling of Rs 7 Crores for a modest 675 sq ft space. Her house is situated on the ground floor of the Park Avenue building at junction 16 and 29 road, Bandra West.
675 Sq Ft Apartment
Karisma Kapoor's apartment in Bandra West has been sold for Rs 7 Crores to a real estate company and the dimension is just 675 sq ft.
More Than The Market Value
Also, the funny part is that the apartment has been sold for a higher value more than the actual price.
Real Price Is 1.89 Crores
The real market value for the apartment of 675 sq ft is 1.89 Crores but the firm purchased it for Rs 7 Crores, which is 3.7 times higher than the actual value.
Bandra Is Gold
It looks like builders look at Bandra properties as potential gold mine as people are ready to pay amount of money just to own a house in that locality.
Bandra For The Rich & Famous
Bandra is the most sought after locality for the rich and famous in Mumbai and they're willing to pay a hefty amount which a common man can only dream of.
It's really surprising that the real estate firm payed Karisma Kapoor 3.7 times more than the actual value of the flat of 675 sq ft.
Rs 7 Crores
So Karisma Kapoor is now Rs 7 Crores richer than her present bank account status and man, that's a really huge deal!
35 Lakhs For Registration
DNA stated that the deal was completed in December 2017 and the real estate firm payed Rs 35 Lakhs as stamp duty for registering the document.
Market Insider Speaks
"Such high rate for an old building is unheard of. But it is a one-off deal and doesn't represent the market sentiments. Whenever a star is involved, the deal does attract a premium," said Prakkash Rohira of Karma Realtor.
Bandra Imperial Heights
Also, Congress MP Priya Dutt sold her apartment in Bandra's Imperial Heights for Rs 93,000/sq ft. That's a huge amount!
Land Owner Is A Winner
Priya Dutt sold her 1,675 sq ft carpet area apartment for Rs 15.60 crore, which is double than the current value. So both Karisma and Priya are winners here!