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Jagdish Naresh Master, a renowned stock market trader, has purchased a 7,139 sq. ft. apartment on the 60th floor of Oberoi Three Sixty West, Worli, for INR 106 crore, at INR 1.50 lakh per sq. ft. His wife, Urjita Master, acquired a flat on the 59th floor for INR 105 crore last month, showcasing their preference for luxury real estate. Jagdish paid INR 3.97 crore in stamp duty, adhering to differential stamp duty norms. These high-value transactions highlight Mumbai's thriving luxury real estate market, driven by demand for premium homes in prime locations, reinforcing the city's position as India's top property investment hub.
The director of Deep Financial Consultants and well-known stock market trader Jagdish Naresh Master has acquired an opulent flat with a view of the sea in Mumbai's affluent Worli neighbourhood. The 7,139-square-foot flat, which was purchased for more than INR 106 crore, is situated on the 60th floor of the famous Oberoi Three Sixty West complex. This deal is one of the most costly residential transactions in the nation, costing over INR 1.50 lakh per square foot. Advertisement
His wife Urjita Jagdish Master, who is a director of the same company and an investor in the stock market, paid INR 105 crore last month for an apartment in the same tower. Her 59th-floor property reflects the couple's taste for upscale real estate in some of Mumbai's most desirable areas.
Jagdish Master paid stamp duty charges of INR 3.97 crore for his recent transaction. Furthermore, according to government standards, he had to pay a differential amount because the property had been registered less than three years before with a reduced stamp duty. This regulation protects the state exchequer from revenue losses and guarantees conformity with current property valuation rates.
Other corporate figures who have also invested in Oberoi Three Sixty West include B K Goenka, chairman of the Welspun Group; Madhav Prasad Agarwal, promoter of Sajjan India; Sumir Chadha, co-founder of WestBridge Capital; Radhakishan Damani, founder of D-Mart; and Vadilal Shah, promoter of Everest Masala Group.
The Masters' double purchases demonstrate Mumbai's luxury real estate market's ongoing appeal. The city's position as a centre for upscale, high-value residential investments is further cemented by the booming real estate market, which is expected to continue expanding due to historic transactions and changing buyer tastes.
The purchases made by Jagdish and Urjita Master highlight the soaring demand in Mumbai's real estate market for upscale homes. The imposing Oberoi Three Sixty West's opulent offers, prime location, and first-rate amenities continue to draw in high-end purchasers. Transparency in high-value transactions is improved by government laws such as differential stamp duty, which guarantee fair property assessment and compliance. Mumbai's post-pandemic luxury real estate boom is still going strong, as seen by record-breaking transactions that underscore the city's position as India's top real estate destination. These acquisitions point to a strong future for Mumbai's premium real estate industry by indicating ongoing demand in upscale, exclusive residences.
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