Mumbai's Residential Real Estate Market Witnessing Unprecedented Growth
Mumbai's residential real estate sector is experiencing a remarkable surge in prices, with a recent transaction setting a new benchmark.
Record-Breaking Transaction at NCPA Apartments
In a notable deal that took place approximately fifteen days ago, a flat at NCPA Apartments, specifically in the Maker Tower B building situated near the World Trade Centre at Cuffe Parade, was sold at an astonishing Rs 97,842 per square feet. This transaction highlights the escalating demand and pricing in Mumbai's luxury residential segment.
A Look Back at Previous Records
For context, in November 2007, the largest-ever residential transaction on record at that time was completed. A four-bedroom flat at NCPA Apartments, located at the Nariman Point end of Marine Drive, was sold for an impressive Rs 34 crore. This historical transaction underscores the consistent appeal and value appreciation of prime residential properties in Mumbai.