Promoter Nirmal Bang & his Wife acquires two Luxury Apartments in Mumbai for Rs. 45.69 crore

The famous promoter of brokerage firm Nirmal Bang Securities Kishore Bang and wife Suman Bang has recently purchased two apartments in Mahalaxmi area of Mumbai for Rs.45.69 crore. The documents were accessed by proptech platform Zapkey.

The apartments are located in the Raheja Modern Vivaria project which was built by K Raheja Corp in South Mumbai's Mahalaxmi.

The transaction regarding the property measures 5,255 sq ft and it was registered on September 14 and 15, 2024. 

In the two apartments, one is situated on the 30th floor which costed Rs.25.95 crore, spans across an area of 2,891 sq ft and it was registered in the name of Kishore Bang and Suman Bang.

Another one has an area of 2,364 sq ft and it was purchased for Rs.19.74 crore by Suman Bang and Kishore Bang, as per the document.

The two of the apartments are available with eight car parkings. According to the report, the per square feet price of the two apartment are Rs.86,948.

In the Mahalaxmi area, property prices start at over Rs.50,000 per sq ft and can reach up to Rs.1 lakh per sq ft, as reported by local brokers. Property registration documents indicate that the stamp duty for both apartments amounted to Rs.2.74 crore, in addition to a registration fee of Rs.60,000.

The Raheja Modern Vivarea project, located in the Modern Textile Mill compound, has seen numerous transactions by high net worth individuals in recent months.

Lately, Mumbai has experienced a huge sale in luxury homes which is priced at Rs.10 crore and above,and touched Rs.12000 crore during the January to June period which was an 8% increase over the first half of the 2023 calendar year.