Halan family buys apartments in South Mumbai’s Mahalaxmi for Rs 104 crore

January 20, 2024

Stock market investors Halan family has acquired a total eight sea-view luxury apartments spread over a cumulative space of 16,000 sq ft in south Mumbai’s plush Mahalaxmi locality for nearly Rs 104 crore.

Several members of the family have purchased these apartments on the 23rd, 24th, 25th, and 26th floor of luxury project Raheja Modern Vivarea on Jacob Circle from the developer K Raheja Corp.

While four of these apartments are priced at Rs 14.68 crore each, other four houses are priced at Rs 11.31 crore, showed the documents accessed through IndexTap.com.

The family has paid total stamp duty of Rs 6.24 crore for the registration of these separate deals that took place in December. The apartments priced at Rs 14.68 crore have attracted stamp duty of Rs 88.11 lakh per deal, while the buyers have paid stamp duty of Rs 67.88 lakh each for apartments priced at Rs 11.31 crore.

As part of the agreements, the buyers have got exclusive access to a total 16 car parking slots in the tower.

Last year, promoters of Creative Group of Industries also purchased 8 sea-view luxury apartments in this tower for nearly Rs 155 crore. These apartments are spread over a total 24,100 sq ft across the 16th through 21st floor of the luxury residential tower

K Raheja Corp declined to comment for the story, while Halan family could not be reached for a comment.

Raheja Modern Vivarea is an under-construction project with 1 million sq ft development spread over a 3-acre land parcel. The project is being developed by K Raheja Corp’s residential development arm K Raheja Corp Homes. As part of the deal, Modern India will get a consideration for sale of land as a percentage of the sales revenue.

The land parcel earlier housed a private textile mill and is now being monetised by Modern India. The development of the entire project, for which the design and necessary approvals are already in place, is expected to be completed by 2028.

The said land parcel is adjacent to Raheja Vivarea, a super-premium residential project also developed by K Raheja Corp Homes earlier. The project, known as the residential hub for corporate honchos and CXOs, is spread over 14 acres and houses five towers.

The last concluded and registered transaction in Raheja Vivarea was priced at over Rs 90,000 per sq ft in October. Recently, Rahul Bajaj’s family bought five sea-view apartments in Raheja Vivarea for nearly Rs 104 crores.

  • Published On Jan 20, 2024 at 09:26 AM IST

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