Diamond Firm Promoter Buys Rs 97 Crore Apartment In Mumbai: Report

Mavjibhai Patel, the managing director of diamond manufacturer Kiran Gems, has bought an apartment for Rs 97 crore in Mumbai. 

The luxurious sea-view apartment is on the 47th floor of the Three Sixty West tower, mentioned the document accessed by Zapkey, reported MoneyControl. It covers the area of 14,911 sq ft, the report added.

The residence has spacious interiors with high-end finishes and luxurious amenities, reported Economic Times. The lavish space has multiple bedrooms, elegant living and dining areas and state-of-the-art kitchen facilities. 

The apartment also includes an extra 884 sq ft of balcony space. As part of the transaction, Mr Patel also has exclusive access to nine car parking spaces within the tower. The apartment is one of the most coveted properties in Mumbai, the ET report added.  

Mr Patel purchased the apartment directly from Sahana Group's Skylark Buildcon and Moon Rays Realty, which are part of the joint venture Oasis Realty. The transaction also incurred a stamp duty of ₹5.84 crore, the report said. 

Luxury home sales in Mumbai have been on the rise. At least 45 luxury homes in this price range were sold last year, a total of ₹4,319 crore. Before that, in 2022, at least 29 homes valued at ₹2,859 crore were sold in this category. Mumbai led the way with 29 luxury homes sold for ₹3,031 crore, as reported by PTI.