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Shaula Real Estates, a private firm where Tanya Dubash-daughter of Godrej Industries Chairman Adi Godrej-is a director, has acquired a lavish duplex apartment in Mumbai's Worli locality for nearly INR 226 crore. The purchase was part of the Naman Xana project, an upscale under-construction residential development. The deal, executed in May, stands out as one of the most expensive primary transactions this year, with the per sq ft value on the carpet area reaching approximately INR 2.45 lakh. The move reflects continued investor confidence in Mumbai's high-end residential market.
In one of the city's most notable luxury real estate transactions in recent times, Shaula Real Estates Pvt Ltd has acquired a duplex apartment in the under-construction Naman Xana project located in Worli, Mumbai, for a reported value of INR 225.76 crore. The deal was officially registered last month, according to details verified by property consultancy firm Square Yards, which confirmed viewing the property's registration documents. Advertisement
Shaula Real Estates, incorporated this past March in Mumbai, lists Tanya Arvind Dubash-eldest daughter of Godrej Industries Chairman Adi Godrej-and Clement George Pinto as directors. While Godrej Industries has declined to comment on the acquisition, the scale and profile of the purchase have drawn widespread attention within the real estate sector.
The unit comprises a sprawling carpet area of 9,214 sq ft along with a 1,227 sq ft balcony, adding up to a total built-up area of 11,485 sq ft. On the basis of the carpet area, the per sq ft value translates to approximately INR 2.45 lakh, while the same figure based on the total built-up area comes to about INR 1.97 lakh per sq ft.
The deal was a primary market transaction, with the seller being a consortium of developers-Naman Residency Pvt Ltd and Karp Estate Pvt Ltd. The Naman Xana project, which spans a compact 0.64-acre parcel, is currently under development and is expected to be completed by 2027, as per its RERA filings.
As more such large-scale investments unfold, Worli and surrounding prime zones are likely to maintain their stature as the epicentre of Mumbai's ultra-lux
Source - PTI
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