The Everest Food Products promoter group, known for the Everest spice brand, has invested over Rs 143.50 crore in two sea-view Mumbai apartments, boosting the total deal size to exceed Rs 213 crore. Previously securing a 53rd-floor residence in Oberoi Three Sixty West for Rs 73.50 crore, they expanded with an adjacent apartment and a similar-sized one on the 50th floor. The 53rd-floor unit was directly acquired from Oberoi Realty, while the 50th-floor residence was bought from SKS Infrabuild. Registered in November, these acquisitions include exclusive access to eight parking slots each, totalling 14 parking slots within the tower.
The Everest Food Products promoter group, renowned for curating the esteemed Everest brand of spices, recently acquired two sea-view apartments within a prestigious residential tower situated on Dr. Annie Besant Road in the affluent Worli district of Mumbai. This substantial investment exceeds Rs 143.50 crore, elevating the aggregate deal size to a staggering Rs 213 crore. Previously, the family had procured a residence on the 53rd floor of the distinguished Oberoi Three Sixty West, encompassing a substantial area of over 6,921 square feet, for a sum of Rs 73.50 crore.
In the latest transactions, the family acquired an adjacent apartment on the same floor and a similar-sized one on the 50th floor. The 53rd-floor apartment was directly acquired from project developer Oberoi Realty, while the 50th-floor residence was purchased from SKS Infrabuild, according to documents from IndexTap.com. Official records for these transactions were registered on November 7 and 29. Notably, these acquisitions grant exclusive access to eight parking slots for each apartment, bringing the total parking slots for the buyers within the tower to an impressive 14.
Established in 1967, Everest Food Products has asserted itself as the foremost manufacturer in India and a significant exporter of both pure and blended spices. The apartment on the 53rd floor, previously in the possession of Oberoi Realty, has been divested within a span of three years since its acquisition from the joint venture partner, Sahana Group. Consequently, in adherence to the stipulated set-off period regulations, the state exchequer is liable to collect only the stamp duty on the profit derived from the transaction, given the resale transpired within the designated three-year timeframe from the original acquisition agreement with the developer.
These recent acquisitions underscore the discerning investment strategy and the predilection for luxurious living spaces within the Everest promoter family. Their continued commitment to prestigious residential real estate in Mumbai, particularly within the acclaimed Oberoi Three Sixty West development, epitomizes a judicious blend of strategic investment discernment and an aspiration for opulent residential domains in one of India's most coveted locales. The distinctive allure of the Three Sixty West development, characterized by its mixed-use composition and affiliation with The Ritz-Carlton brand, further enhances the exclusivity and desirability of these newly acquired residences, thereby contributing to the distinguished real estate portfolio of the Everest promoter family.
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