Until now, this may be the highest price at which a property has sold in Borivali. A 4 BHK luxury flat was sold for ₹14 crore, or ₹56,000 per square foot, in what may have been the most expensive real estate transaction in Borivali, a suburb of Mumbai. CRE Matrix was able to get the property registration records for the transaction.
According to real estate specialists who spoke with HT.com, this is the highest rate at which a home has previously sold in Borivali, and the price is comparable to other areas like Andheri, Vile Parle, Dadar, and Mahim in Mumbai.
The purchase establishes a new standard for the Borivali real estate industry.
The 2,497 square foot, four-bedroom residence is part of the Wadhwa Group's Grade A residential complex, Aquaria Grande. Hemant Patil, a businessman from the Mumbai Metropolitan Region (MMR), bought the residence.
The records state that the flat is on the 27th floor and has two parking spaces. According to the records, there was a stamp duty of ₹84 lakh on the transaction that was filed on June 21, 2024.
According to statistics collected by CRE Matrix, the highest price per square foot for flats in Borivali up to this point was ₹48,800 per square foot for an apartment sold by Oberoi Realty in Oberoi Sky City.
According to local brokers, the average cost of an apartment in Borivali ranges from ₹25,000 to ₹40,000 per square foot, with the majority of projects selling for ₹30,000.
Developers who are building many projects in Borivali claim that the pricing of some properties are comparable to those of apartments in Juhu, Vile Parle, Dadar, and Mahim.
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