Ebco promoter acquires Luxury Apartment in Mumbai worth Rs.115crore

Ebco Pvt Ltd's promoter, Ashley Nagpal and his wife Bianca Nagpal have acquired a Mumbai-based Worli-area apartment measuring 7,139 sq ft for Rs.115 crore as per the documents obtained by Zapkey. The couple is associated with an esteemed firm that specializes in furniture fittings and accessories.

Oberoi Realty's Three Sixty West project in Worli recently sold an apartment on its 60th floor for a whopping Rs.1.60 lakh per sq ft.

As per the documents, five car parking spaces are included in the transaction recorded on August 28, 2024.

According to the documents, a sum of Rs.4.55 crore has been paid as stamp duty for the apartment and an additional registration fee of Rs.30,000 has also been deposited. 

Oberoi Realty's extravagant residential scheme boasts of twin towers and features opulent 4 BHK and 5 BHK units in addition to duplex apartments and penthouses. This project was awarded its occupation certificate in the year 2022.

360 One's founder and CEO, Karan Bhagat (previously known as IIFL Wealth & Asset Management), possesses two properties that were acquired for a sum exceeding Rs.170 crore. Additionally, the promoters of Kiran Gems own an opulent sea-facing apartment spanning 16,000 sq ft in size within a luxurious development which was procured for Rs.97.4 crore.

According to a report from India Sotheby's International Realty and CRE Matrix released in July 2024, the sale of luxury homes priced at Rs.10 croreand above reached Rs.12,300 crores during January to June. This marks an increase of 8% compared to the first half of the calendar year 2023.

The report reveals that the top 10 luxury micro-markets of the city, namely Mahalaxmi, Prabhadevi, Mumbai Central, Malabar Hill, Lower Parel and Byculla accounted for more than 80% of sales.Presumably named for its height of 360 meters and all units facing west, the project is referred to as the sea-view.