Amway Global’s CEO sells flat in Gurugram for Rs 19 crore

January 23, 2023
Amway Global's CEO sells flat in Gurugram for Rs 19 crore

Amway Global CEO Milind Pant has sold an apartment at The Magnolias in Gurgaon for Rs 18.9 crore, documents accessed through real estate data analytics firm CRE Matrix showed.

The apartment was owned by Amrita Pant, Milind’s wife, and he sold it through a power of attorney.

According to market sources, the apartment is approximately 6,500 sq ft in size and was sold for about Rs 30,000 per sq ft in October last year. The current resale is happening at Rs 40,000 per sq ft as pieces have appreciated at this DLF super luxury condominium. Amway Global declined to comment on the deal.

“The growth trajectory of the residential sector touched a new high, with sales climbing to an all-time high in 2022,” said Gaurav Kumar, managing director, capital markets and residential business, CBRE India. “The sector recorded a 46% year-over-year growth with 295,000 units sold in 2022, with Delhi-NCR ranking in the top three cities in terms of sales with an 18% share.”

“The region is witnessing increased traction in the premium and luxury segments, and there has been a good recovery in the residential segment.

The appetite for home ownership has increased due to pent-up demand, especially after the pandemic hiatus,” Kumar said.

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