Marico MD buys luxury apartment in Mumbai?s Worli for Rs 364 million
Real Estate

Marico MD buys luxury apartment in Mumbai?s Worli for Rs 364 million

Saugata Gupta, Managing Director and CEO, Marico, has acquired a luxury apartment in Mumbai?s upscale Worli neighborhood for Rs 364 million. The apartment, spanning nearly 4,372 sq ft, is situated on the 24th floor of a high-end residential project. Gupta and his wife, banker Reema Sen, are co-owners of the property. The purchase values the apartment at Rs 83,264 per sq ft and includes five exclusive car parking slots. The buyers have also paid Rs 21.8 million in stamp duty for the transaction, which was registered on July 29, according to documents from Zapkey.com. In 2023, residential property sales across India?s top eight cities reached unprecedented levels, driven by strong demand in mid-income, premium, and luxury segments. Mumbai led this trend, setting new records in property transactions and achieving notable performance in July. The city's property market saw monthly registration numbers surpass 10,000 in the first seven months of 2024 and has experienced consistent year-on-year growth in registrations since August 2023, highlighting sustained buyer confidence and market strength. (ET)

Saugata Gupta, Managing Director and CEO, Marico, has acquired a luxury apartment in Mumbai?s upscale Worli neighborhood for Rs 364 million. The apartment, spanning nearly 4,372 sq ft, is situated on the 24th floor of a high-end residential project. Gupta and his wife, banker Reema Sen, are co-owners of the property. The purchase values the apartment at Rs 83,264 per sq ft and includes five exclusive car parking slots. The buyers have also paid Rs 21.8 million in stamp duty for the transaction, which was registered on July 29, according to documents from Zapkey.com. In 2023, residential property sales across India?s top eight cities reached unprecedented levels, driven by strong demand in mid-income, premium, and luxury segments. Mumbai led this trend, setting new records in property transactions and achieving notable performance in July. The city's property market saw monthly registration numbers surpass 10,000 in the first seven months of 2024 and has experienced consistent year-on-year growth in registrations since August 2023, highlighting sustained buyer confidence and market strength. (ET)

Next Story
Resources

Security solutions: Godrej aims for 50 percent revenue surge

The Security Solutions business of Godrej & Boyce, part of Godrej Enterprises Group, has set an ambitious goal of achieving a 50 percent growth in revenue by FY27, targeting a top-line of Rs 15 billion. This marks a significant leap from the Rs 10 billion revenue recorded in FY24, driven by a sharpened focus on expanding exports to the Americas and Europe, alongside leveraging domestic regulatory changes.The company’s exports currently contribute around 10 percent of the division’s revenue with significant potential for growth. By FY27, exports are projected to account for 14-15 percen..

Next Story
Resources

India's luxury housing market soars: CREDAI-MCHI

CREDAI-MCHI, the apex body of real estate developers, has unveiled its latest research analysis, spotlighting a transformative shift in India's urban housing markets towards luxury and premium properties. The study reveals significant growth in average ticket sizes and total sales values across India’s top seven metropolitan cities during H1 FY2025 (April-September 2024).  The data highlights a remarkable 18 percent increase in total sales value, which surged to Rs 2,793 billion, compared to Rs 2,358 billion in the same period of FY2024. Despite a modest 3 percent decline in total units..

Next Story
Equipment

Our commitment to excellence drives our success: Gmmco

In India's dynamic industrial landscape, Gmmco, a comprehensive solutions provider across the construction, resources and energy transportation industries, stands as a testament to innovation. As a powerhouse of the CK Birla Group with a legacy spanning over five decades, it has evolved from a traditional equipment supplier to a full-spectrum solutions provider. Its distinctive approach includes rental solutions, used equipment options, financing support, rebuilt options and tailored product support solutions, setting new benchmarks in customer service. Under the visionary leadership of C..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000