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In a landmark real estate transaction, Supreme Universal has sold a duplex apartment in its Supreme ArtHouse project on Carter Road, Bandra, Mumbai, for a staggering Rs. 174 crore. The 12,148 sq ft, two-floor, sea-facing apartment has been acquired by Sarvesh Singh, Executive Director of Alkem Laboratories.
This sale, marking the largest of its kind on the Bandra seafront, underscores the continued demand for luxury properties in Mumbai. The transaction attracted a stamp duty of Rs. 10.44 crore.
Mumbai is expected to register over 12,142 property transactions in April 2025, contributing more than Rs. 990 crore to the state's revenue. Although the overall property registrations are expected to rise by 4% year-on-year, stamp duty collections are projected to experience a slight 6% dip.
Residential properties continue to drive the market, with 80% of all registrations in April 2025 attributed to the housing segment. Additionally, properties priced above Rs. 2 crore now account for 25% of the total transactions, up from 22% in 2024, further highlighting the growing demand for premium real estate in the city.
We must never confuse elegance with snobbery