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Ipsita Dasgupta, Senior Vice President and Managing Director of HP India, has made a significant real estate acquisition in Mumbai's upscale Worli neighbourhood, purchasing a luxury apartment for over Rs 22.50 crore. Dasgupta, who joined HP India from Apple in October, is entrusted with spearheading the company's operations in India, Bangladesh, and Sri Lanka.
The apartment, located on the 4th floor of the prestigious Raheja Artesia project, was acquired from K Raheja Corp Homes, through Genext Hardware & Parks, a subsidiary of the real estate developer. The apartment offers 2,964 sq ft of living space and includes a 100-sq-ft balcony. Additionally, as part of the agreement, Dasgupta secures exclusive access to three car parking slots. The deal, finalized on October 26, incurred fees exceeding Rs 22.56 lakh, as reported by documents available on Zapkey.com.
Raheja Artesia, a super-premium residential tower, is situated on a 5-acre land parcel in Worli. The project is a standalone 45-storey tower, offering breathtaking views of the Arabian Sea and the Bandra-Worli Sea Link. Notably, this is the same building where the promoters of K Raheja Corp decided to retain possession of three floors, comprising 60,000 sq ft and worth Rs 426 crore.
The property market in Mumbai, India's largest and most expensive, continued its impressive performance in October despite higher mortgage rates and property prices. The city witnessed the registration of 10,566 properties during the month, marking a 25.5% increase compared to the previous year. Stamp duty charges contributed over Rs 833 crore to the state's exchequer, a 15% year-on-year rise, according to data from the Inspector General of Registration, Maharashtra.
In 2022, Mumbai's top 100 housing projects recorded sales of homes worth Rs 43,000 crore, though this marked a slight decline of approximately 2.5% from the previous year. This trend was driven by high-value inventory sales following the initial waves of COVID-19 in 2020 and 2021. In 2021, property valued at Rs 44,300 crore was sold in 22,100 transactions across these top 100 projects, according to data provided by Zapkey.com. In comparison, Mumbai's real estate market has been characterized by several high-value transactions in 2023, with over 1.04 lakh property registrations in the first ten months of the year.
Despite market fluctuations, Mumbai's real estate market remains vibrant, with notable acquisitions and sustained demand, making it one of the most dynamic and valuable property markets in India.
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