Halan Family Seals Mega Deal: Acquires Luxury Apartments Worth Rs 103.98 Crore in Mumbai

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    In a significant real estate transaction, the Halan Family, known for their investments in the equity market, has secured a colossal deal by purchasing eight luxury apartments spanning approximately 15,996 sqft in Mumbai’s upscale Worli area. The deal, valued at Rs 103.98 crore, is hailed as one of the standout real estate transactions of 2023 in the residential segment of the Mumbai market.

    Key Highlights

    • Buyers and Apartments: The Halan family members involved in the purchase include Ajay Halan, Anju Halan, Sujata Halan, Vimal Halan, Vishaka Halan, Narayan Halan, Praveena Halan, and Pawan Halan. The acquisition, finalized on December 8, comprises four apartments of 1,759 sqft each and four apartments of 2,259 sqft each.
    • Stamp Duty and Additional Details: The family paid a substantial stamp duty of over Rs 6 crore for the eight apartments. The seller in this transaction is K Raheja Corp, associated with the Raheja Modern Vivarea project, offering a total of 16 parking lots.
    • Under-Construction Project: The purchased apartments are part of an under-construction project by K Raheja Corp Homes. The building promises an unrestricted view of the Mahalaxmi Racecourse and the Arabian Sea.
    • Prominent Real Estate Deals: This transaction follows the trend of significant real estate deals in Mumbai, with Creative Group promoters acquiring eight luxury apartments worth Rs 154.6 crore in the same building earlier in March 2023.
    • Project Overview: The Raheja Modern Vivarea project, spanning 10 lakh square feet of total saleable area, features 3 and 4-bedroom apartments customizable to specific preferences. The company reported a pre-formal launch sales revenue of Rs 1,100 crore within 90 days, selling around 2.50 lakh sqft.

    Despite attempts, the Halan family could not be reached for comment on this substantial real estate investment. The transaction adds to the momentum of noteworthy property acquisitions in Mumbai’s dynamic real estate landscape.

    Also read: JP Infra (Mumbai) Entities Receive NCLT Approval for Amalgamation and Restructuring

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