Hermes Distillery Acquires 10 Luxury Apartments for Rs 2 Bn
Real Estate

Hermes Distillery Acquires 10 Luxury Apartments for Rs 2 Bn

Hermes Distillery Pvt. Ltd has purchased 10 luxury apartments in South Mumbai’s Marine Lines for Rs 1.99 billion, according to property registration records. The apartments are located in Prestige Ocean Tower, a high-end residential project by Bengaluru-based Prestige Estates.

The transaction includes units on the 37th to 41st floors, spanning a total built-up area of 25,650 sq. ft. The cost per unit ranges from Rs 193.9 million to Rs 205.4 million, with a cumulative stamp duty of Rs 119.6 billion and a registration fee of Rs 3 lakh. The purchase also includes 30 car parking spaces.

Prestige Ocean Tower, a newly launched project covering 2.3 acres, offers premium 2 and 3 BHK residences. The Marine Lines area is one of Mumbai’s most exclusive residential zones, known for its proximity to business hubs, the Arabian Sea, and its Art Deco architecture.

Hermes Distillery, founded in 2008 and headquartered in Belgaum, Karnataka, is a leading alcoholic beverage manufacturer producing whisky, vodka, rum, and brandy. The acquisition marks a significant real estate investment for the company in Mumbai’s luxury property market.

Hermes Distillery Pvt. Ltd has purchased 10 luxury apartments in South Mumbai’s Marine Lines for Rs 1.99 billion, according to property registration records. The apartments are located in Prestige Ocean Tower, a high-end residential project by Bengaluru-based Prestige Estates. The transaction includes units on the 37th to 41st floors, spanning a total built-up area of 25,650 sq. ft. The cost per unit ranges from Rs 193.9 million to Rs 205.4 million, with a cumulative stamp duty of Rs 119.6 billion and a registration fee of Rs 3 lakh. The purchase also includes 30 car parking spaces. Prestige Ocean Tower, a newly launched project covering 2.3 acres, offers premium 2 and 3 BHK residences. The Marine Lines area is one of Mumbai’s most exclusive residential zones, known for its proximity to business hubs, the Arabian Sea, and its Art Deco architecture. Hermes Distillery, founded in 2008 and headquartered in Belgaum, Karnataka, is a leading alcoholic beverage manufacturer producing whisky, vodka, rum, and brandy. The acquisition marks a significant real estate investment for the company in Mumbai’s luxury property market.

Next Story
Infrastructure Urban

The Variation Challenge!

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Next Story
Infrastructure Urban

Malaysia-India trade stands at $18.25 billion and is growing at 8.5%

With bilateral trade between Malaysia and India reaching $18.25 billion and growing at an annual rate of 8.5 per cent, economic collaboration between the two nations continues to strengthen. From infrastructure and green energy to technology and manufacturing, new opportunities are emerging for businesses on both sides. Ahmad Zuwairi Yusoff, Consul General of Malaysia, Mumbai, shared insights with CW on key areas of partnership, investment potential and the road ahead. Excerpts:Malaysia has a strong economic presence in India, with around 70 companies operating across key sectors lik..

Next Story
Infrastructure Urban

We have doubled revenue annually with 200 per cent y-o-y growth

According to the Central Pollution Control Board (CPCB), India generates approximately 1.3 million tonne of used tyres annually. Amid this, REGRIP Tyres, a Gurugram-based startup, is pioneering solutions by using high-grade rubber to create refurbished tyres. Operating through a network of over 12 dealers across eight states with 16+ retreading facilities, REGRIP recycles approximately 100,000 tyres annually, preventing up to 20,000 metric tonne of CO₂ emissions, while reengineering over 8,500 tyres for reuse. Tushar Sulhaka, Founder, tells us more.What inspired you to start REGRIP..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?