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Pooja Dhoot buys luxury duplex in South Mumbai for Rs 52 crore, Real Estate News, ET RealEstate

Pooja Dhoot buys luxury duplex in South Mumbai for Rs 52 crore, Real Estate News, ET RealEstate
Pooja Dhoot, wife of Videocon Group heir, Anirudh Dhoot, has purchased a luxury duplex apartment in a project on South Mumbai’s Peddar Road for Rs 52 crore, or nearly Rs 1.53 lakh per sq ft, making it one of the costliest residential property deals in the country.

Dhoot has purchased the apartment in the 33 South project from two subsidiaries of the JSW Group, Peddar Realty and JSW Steel.

The project is a joint development between JSW and real estate developer Sameer Bhojwani.

Pooja is also a director on the board of textile company Clothing Culture.

The buyer will also get a 7.14% ownership interest in the plot on which the project is built, according to documents accessed through Zapkey.com, which aggregates publicly available property registration data.

ET’s email query to Pooja Dhoot remained unanswered until the time of going to press.

Recently, power major JSW Energy’s Joint Managing Director and Chief Executive Officer Prashant Jain also bought a luxury duplex apartment in this marquee project by paying over Rs 1.32 lakh per sq ft, totalling Rs 45 crore.

The project, 33 South, is built on a land parcel that came under the JSW Group’s ownership following its acquisition of Ispat Industries.

JSW Steel had acquired 41% stake in debt-ridden Ispat Industries from the Mittal brothers–brothers of the steel czar L N Mittal– for about Rs 2,157 crore in December, 2010. Subsequently, Ispat was renamed as JSW Ispat.

Later, JSW increased its stake to 46.75% in JSW Ispat and was the single-largest shareholder in the company. JSW Steel completed its merger with JSW Ispat in June 2013.

The project has witnessed several record-setting transactions in the last few months. In December, the Motilal Oswal family trust bought two duplex apartments spread over 6,800 sq ft on the 13th and 17th floors of the same high-rise building for Rs 101 crore.

In March, Enam Asset Management Company’s cofounder, Jiten Doshi, bought two luxury duplex apartments in this project for Rs 61 crore, or Rs 1.67 lakh per sq ft. These transactions had attracted stamp duty of Rs 1.83 crore as they were registered during the period of the lower stamp duty window that was offered by the state government.

With the goal of stimulating the real estate sector and nearly 260 related industries by encouraging housing sales, the Maharashtra government announced a reduction in stamp duty charges from 5% to 2% from September to December.Stamp duty will be charged at 3% of the agreement value from January to March end.

Apart from industrialists, corporate honchos, movie stars, cricketers, and several other high-profile personalities have been setting the country’s most expensive property market’s luxury segment abuzz again.

The segment that remained sluggish for almost four-five years due to the oversupply situation in central and south Mumbai has turned active since then. Ends


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