Mumbai Flat Sold For an Eye-Popping 1.20 Lakh a Sq Ft

Bangalore: While the country’s real estate market is witnessing sluggish growth and slow home sales, there is no price correction in Mumbai’s property market. The financial capital, Mumbai is still witnessing property sales under high prices for apartments in upscale residential localities. Recently, a flat in upscale Worli got sold under a price bracket of 1.10 lakh per square feet, reports Times of India.

A duplex flat in Samudra Mahal, a sea-facing 28-storey residential building in Worli has fetched whooping 40 crore in today’s property market. Samudra Mahal is a premium high-rise residential building in Mumbai. A duplex flat on the seventh and eight floors spans over 3,638 square feet was sold for 1.10 lakh per square feet, according to sources.

The city has witnessed some of the most expensive property deals in India including a 28^th floor flat in Tahnee Heights, a high-rise residential building on Nepean Sea Road, also a prime locality in Mumbai. This flat of 3320 square feet was sold at 1.20 lakh per square feet and fetched an astronomical amount of 39 crore, which has recorded as the most expensive deal in June 2012.

It is to be believed that, this current deal of a flat in Samudra Mahal has broken the property transaction record that was set two years before. This means, the recent deal has quoted highest price against a duplex flat which was sold at 1.02 lakh per square feet or 37 crore, two years back.