Welspun Group promoter company buys penthouse in Mumbai for Rs 230 crore

February 13, 2023

A promoter company of the Welspun Group has purchased a 30,000 sq ft penthouse in Oberoi Realty’s ThreeSixtyWest in Mumbai for Rs 230.55 crore, property registration documents showed.

The acquisition was on behalf of BK Goenka, chairman of the diversified Welspun Group.

The penthouse on the 63rd floor has a terrace of 4,815 square feet, an additional area of 411 square feet and free sale land of 1.3 lakh square feet.

Real estate industry circles said it was one of the costliest transactions in recent times, with the rate at over Rs 77,000 per square feet. Rates in the particular project had touched Rs 1 lakh a square feet last year, after it received the occupancy certificate.

The ultra luxury projectbuilt by a joint venture of a subsidiary of Oberoi Realty, which recently acquired a chunk of the unsold inventory for about Rs 3,400 crore with a view to having more control over it and getting significant cashflows from the sale of the units.

Last week D’Mart founder Radhakishan Damani’s family and friends bought 28 units in the highrise for over Rs 1,200 crore. In an analyst call Oberoi Realty Managing Director Vikas Oberoi said the project had a substantial purchase pipeline.

Leave a Comment