In one of the marque
residential realty transactions, Bank of America has sold a 5 bedroom luxury
sea - view flat in Mumbais Malabar Hill
to the promoter of an Indian private bank for Rs. 39 crore.
The deal values the
12 th and 13 th floor duplex flat in IL Palazzo at above Rs.1.11 lakh per sq ft
on carpet area and Rs. .93,000 per square feet on built-up basis.
The flat is spread
over a built-up area of 4,200 square feet and has carpet space of 3,500 square
feet.The buyer will also get the right to use 2 basement car parking spaces
allotted to the flat, 12 -D,in the north wing of this 21 storey iconic building.
One of the landmark
buildings, IL Palazzo, built in 1972,is placed on the highest point of south
Mumbai, surrounded by sea on 3 sides and commanding a view of the island city.
The building has 4
wings with each floor consisting of 2 apartments.The building on Little Gibbs
Road is known for its prominent residents such as billionaire investor Mr.
Rakesh Jhunjhunwala and actor Mr. Vinod Khanna. Aditya Birla Group chairman Mr.
Kumar Mangalam Birla also used to live in this building earlier.T
he buyer had emerged
as the highest bidder nearly 2 weeks ago. However, the deal was held back,
given the usual notice period of ten days for existing residents of IL
Palazzo.Residents of the building enjoy the first right of refusal and get a
preference to buy the flat if they can match or outbid the highest offer.
However, the banker has now been finalised as the buyer with no resident of the
building matching the offer.
Src: ET
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