Press Trust of India
In a recent development, KKR India’s Chief Executive Officer Gaurav Trehan purchased a sea-view luxury apartment. The premium property worth Rs. 88 Crore is in South Mumbai’s (SOBO) Morena House, Carmichael Road.
The property is sold by JSW Realty, the real estate firm of JSW Group. It is an apartment with a carpet area of 5,381 sq. ft. at a price of nearly Rs.1.68 lakh per sq. ft. Thus the deal is amongst one of the most expensive property transactions in the country.
Mr. Trehan also paid a stamp duty of Rs.5.26 Crore for registering the property transaction. Gaurav Trehan is the Co-Head of KKR Asia Pacific and Head of Asia Pacific Private Equity along with the CEO, of KKR India.
According to the deal registered on 18th October, Mr. Trehan gets access to four parking slots. The data is by the document accessed by Zapkey.com, a realty data analysis firm. The luxury apartment also has a balcony and deck area of 434 sq. ft.
Windsor Residency an extended arm of JSW Realty built Morena House, a luxury residential project on the plot it owned back in 2008. Before this, the one-storey terrace bungalow was the consulate of the Belgian Consulate in India.
Mumbai, India’s financial capital, witnessed upward movement in property registration in August. According to the data, Mumbai recorded 8 percent year-on-year growth in August. The number of registrations soared from 10,902 in the last year to 11,735 this year.
The Inspector General of Registration and Controller of Stamps of Maharashtra released the data.
Earlier in July, this year, a total of 12,373 properties were registered in the city. However, the figure dropped from July to August due to the monsoon, real estate experts assume. The Mumbai real estate market saw a 5 percent dip in registration during the said tenure
In July 2024, the collected stamp duty was figured at Rs. 1,064 Crore the data shows. In August, the stamp collection ascended by Rs. 810 Crore this year. It is 32 percent more than what was collected in August last year.
