Shahid Kapoor buys grand sea-view apartment in Mumbai for ₹60cr
What's the story
Bollywood actor Shahid Kapoor and his wife Mira Rajput Kapoor have recently become the proud owners of a luxury sea-view apartment in Mumbai's Worli area. The property, part of the Oberoi 360 West project, is valued at approximately ₹60cr, according to registration documents accessed by IndexTap. The transaction for this 6,176 square feet RERA carpet apartment, which includes three parking spaces, was officially registered last Friday.
Bulk purchase
Kapoor's new home part of a larger real estate deal
Per reports, the apartment, situated on the 24th floor of the Three Sixty West building on Dr. Annie Besant Road, was initially part of a bulk deal in February 2023. Chandak Realtors Pvt Ltd, from whom Kapoor bought the property, had originally acquired it along with 27 other apartments for ₹1,238 crore. The purchase was made from D-Mart owner Radhakishan Damani's immediate family and close associates.
Property appreciation
Apartment witnessed over 50% appreciation in value
The apartment, originally acquired by Chandak Realtors for ₹35.31cr in February 2023, has seen a significant appreciation in its value. "The particular apartment was purchased by the Chandak Realty at a price of around ₹65,000 per sqft and it has now been sold at a price of over ₹1 lakh per sqft. This is over 50% appreciation in a period of one year," an anonymous real estate consultant told HT Digital.
Repeat investment
Kapoor's second investment in Oberoi 360 West project
This is not Kapoor's first investment in the Oberoi 360 West project. In 2018, he purchased an apartment measuring 8,281sq ft for ₹55.6cr and paid a stamp duty of ₹2.91cr. The recent transaction saw the Kapoors paying a stamp duty of ₹1.75cr for their new luxury sea-view apartment. Just two days before Kapoor finalized his deal, Karan Bhagat purchased two apartments in the same building. The founder and CEO of the investment firm 360 ONE spent ₹170cr.
Market growth
Luxury home sales surge in India
Kapoor's purchase comes amid a significant increase in luxury home sales across India. According to a report by CBRE South Asia titled India Market Monitor Q4 2023, sales of luxury homes priced above ₹4cr recorded a 75% year-on-year growth in sales in 2023. Meanwhile, coming back to Kapoor, he was last seen in Teri Baaton Mein Aisa Uljha Jiya, which earned over ₹130cr. It is available to stream on Amazon Prime Video.