Big City Realty Deals

Published: January 22, 2010


An apartment, admeasuring approximately 1,150 sq ft, situated in Malabar Hill, was sold for around Rs 4,00,00,000 (Rs 34,783 per sq ft). The capital values for a mid-segment apartment in Malabar Hill would typically range from Rs 2,00,000–3 ,50,000 per sq ft and this apartment’s sale price is well within the prevalent price range.

The apartment is located in a prime residential building and therefore, even though the building is old, it has been attracting considerable interest from end-users and investors. Malabar Hill has traditionally been one of Mumbai’s most recognisable residential locations and boasts of features such as proximity to the CBD and other business districts, including central Mumbai and BKC.


A residential apartment located in EM Bypass was sold at an approximate cost of Rs 1,86,00,000. The apartment, spread over an area of 3,000 sq ft, was able to command a rate of Rs 6,200 per sq ft. The high-end apartment is situated in a recentlyconstructed building and commands a premium due to the amenities and the expanse of the unit.

Thus, while most highend apartments have been commanding an average capital value of Rs 4,500–5 ,700 per sq ft, this particular apartment has commanded a premium. EM Bypass is one of the upcoming locations in Kolkata, both for residential as well as commercial development. Further more, the location is well connected to other major commercial office location, including CBD and peripheral locations, including Rajarhat.


A residential apartment, covering an area of 3,600 sq ft, was leased out in the premium residential precinct of Vasant Vihar in South-West Delhi for a monthly rental value of Rs 3,00,000 per month. The apartment is located on the second floor of an independent residential building. South-West Delhi, including Shanti Niketan, Westend, Anand Niketan and Vasant Vihar, has been commanding average rental value in the range of Rs 2,50,000–4 ,00,000 per month for high-end apartments (units admeasuring 2,000–4 ,000 sq ft) and this apartment is well within the range.

South-West Delhi has been a preferred location for residence, especially among senior corporate executives, high networth individuals and expatriates. The area is advantageously located within an approachable distance from CBD and SBDs and from Gurgaon — the emerging commercial centre, apart from being close to the national and international airports.


An apartment, admeasuring 1,198 sq ft, was sold in Gachibowli for around Rs 36,00,000. The apartment is located in a gated community being constructed by a reputed developer. It commanded a per sq ft rate of approximately Rs 3,000. Gachibowli is located close to the IT Hub in and around Madhapur and has, in the last few years, seen some residential activities in support of the growing commercial office space in the location.

While capital values for midsegment apartments had remained stagnant over most of last year as a result of the economic slowdown, values have seen a moderate increase of 4% in the last quarter of 2009. This is largely due to the strengthening of demand in the region as economic stability returns to the Indian market.

Source: The Economic Times

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