Mumbai, July 15, 2024 – Lloyds Group chairman Mukesh Gupta’s wife Abha Gupta and son Shreekrishna Gupta have made a significant investment in Mumbai’s real estate market by purchasing a triplex apartment worth ₹107 crore. The luxury flat is situated in the Sea Krest building, an under-construction project by Sugee Group in the upscale Worli area.
The property, which spans the 25th, 26th, and 27th floors, measures 13,207 sq ft, with a purchase price of ₹81,133 per sq ft. The transaction was officially registered on June 27, 2024. The high-end apartment also includes 16 car parking spaces, reflecting the luxury segment's demand for comprehensive amenities.
The buyers paid a stamp duty of ₹6.42 crore and a registration fee of ₹30,000, as indicated by the property registration documents accessed by Zapkey. Despite attempts, no comments were received from Sugee Group or Mukesh Gupta regarding the acquisition.
Lloyds Group, a diversified conglomerate, operates in various sectors including metals and energy, luxury, real estate development, and engineering. Their business operations encompass the import, export, and trade of iron and steel, alloy steel scrap, steel tubes, pipes, and wires.
This transaction is part of a broader trend in Mumbai’s luxury real estate market. On July 1, Priyanjali Mariwala, leader of the ASCENT Foundation and part of the Mariwala family behind Marico, purchased an apartment for ₹65.25 crore in Sunteck Signature Island, Bandra Kurla Complex.
In another notable deal, Rajesh Labhubhai Lakhani, director at Woodstock Estate LLP, acquired a sea-view apartment in Worli for approximately ₹97.40 crore in May 2024.
According to a report by India Sotheby's International Realty and CRE Matrix released on July 11, the sale of luxury homes priced at ₹10 crore and above in Mumbai reached ₹12,300 crore in the first half of 2024, marking an 8% increase from the same period in 2023. The primary luxury residential segment contributed ₹8,752 crore, while the secondary (resale) market hit a record high with over ₹3,500 crore in sales, a 38% annual growth.
Mumbai’s luxury real estate market continues to thrive, demonstrating robust demand and significant growth, driven by high-value transactions and substantial investments by prominent business families.
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