Sea-facing Duplex goes at Rs. 1.35 Lakh per square feet

Whatever the general market trend, Mumbai's real estate market does not stop creating new records.

In the costliest flat deal in India, a sea-facing duplex in a Malabar Hill building was recently sold for Rs. 57 crore or roughly Rs. 1.35 lakh a square feet.

The duplex in the tony Darshan Apartments on Mount Pleasant Road was sold last month (August 2013) to the Bulchandanis, a prominent business family with interests in software, aluminium & real estate. They own three other duplexes in the same complex.

The family's latest acquisition (flat number 111) sits on the 9th, 10th & 11th floors of the complex's 'A' wing, has four bedrooms &  is spread over 3,510 square feet. It comes with attached terraces of 1,386 square feet on the 11th and 12th floors and a covered garage of nearly 700 square feet.

According to property documents, the flat was previously owned by the sisters Mana &  Shyama Sarabhai. It was bequeathed to them by their late father Gautam Sarabhai. Gautam, who died in 1995, was the brother of Vikram Sarabhai, the founder of India's space programme.

Located near the chief minister's residence, Darshan Apartments was the first residential complex in the Mumbai city where duplexes were constructed. Sitting on an incline, it has 42 flats offering a view of the Arabian Sea. The complex was built on a 6,752.5 square meter plot originally leased by Gautam to the Malabar Hill Cooperative Housing Society for 21 years. The society purchased the land from Gautam in 1971.


The recent Darshan Apartments deal overshadowed the record created by the glassware company Borosil this July when it paid Rs. 21 crore (or about  Rs. 1.23 lakh per square feet) for a sea-facing flat on the 10th floor of Samudra Mahal in Worli. It also eclipsed the Rs. 1.2 lakh per square feet paid by Jindal Drugs for a luxury apartment in Tahnee Heights on Nepean Sea Road in June 2012.
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