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Former Indian cricket team captain, Kapil Dev, has expanded his property holdings with the recent acquisition of a 16-acre land in Mograj village of Karjat taluka. This marks his second significant land purchase, adding to his real estate portfolio.
The newly acquired land, situated around 500 meters from Kothimbe village and ahead of the Solanpada dam, was secured by farmer Mohan Gaikar of Hedvali village. The agreement value for the purchase was INR 8 crore, slightly below the government's ready reckoner rate for the area, which stands at INR 9.03 crore.
Based on the official ready reckoner price, Kapil Dev's stamp duty is greater because of the difference between the purchase price and the government rate. Despite this, the registration process proceeded smoothly, facilitated by a sub-registrar from Panvel, Mangesh Chaudhary, who was delegated to handle the formalities in the Neral office.
Following his 2022 purchase of a 25-acre plot of land in Kothimbe village, Kapil Dev further strengthened his position in the area with this transaction. The purchase remained confidential until the registration process was finished, highlighting the privacy kept over the cricket legend's financial transactions.
Kapil Dev's investments in Karjat underline the area's growing allure for property investors, driven by its proximity to tourist attractions like the Solanpada dam and its tranquil rural surroundings. His continued interest in the region could potentially stimulate further interest from other investors, bolstering the local real estate market.
While the specifics of Kapil Dev's plans for the newly acquired land remain undisclosed, his continued investments in the area suggest a long-term vision for development or personal use. As one of India's most celebrated sports icons, his ventures beyond the cricket field continue to attract attention and speculation.
Moreover, Karjat's appeal as a destination for second homes is further highlighted by Bollywood actor Suniel Shetty's involvement in the development of luxury villas in the area. Shetty's project, "Merak," in Karjat, whose phase one is already completed, aims to provide residents with a getaway from the busyness of city life, aligning with the growing trend of individuals seeking out second homes as a means to connect with nature and find calm.
With renowned personalities like Kapil Dev and Suniel Shetty investing in the region, Karjat's status as a premier destination for second homes is further solidified, potentially stimulating further interest and development in the local real estate market.
The trend of second homes has gained traction for several reasons, particularly in light of the changes brought about by the pandemic. Moreover, owning a second home can also be viewed as a wise investment. Properties in scenic or desirable locations tend to appreciate over time, offering potential long-term financial gains. Additionally, when the property is not in use, it can be rented out to generate additional income, further enhancing its appeal as an investment opportunity.
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