{"id":62506,"date":"2022-09-30T12:05:29","date_gmt":"2022-09-30T06:35:29","guid":{"rendered":"https:\/\/navimumbaihouses.com\/blog\/?p=62506"},"modified":"2022-09-30T12:05:29","modified_gmt":"2022-09-30T06:35:29","slug":"most-expensive-celebrity-residences-sold","status":"publish","type":"post","link":"https:\/\/navimumbaihouses.com\/blog\/news\/most-expensive-celebrity-residences-sold\/","title":{"rendered":"In 2021, The 10 Most Expensive Celebrity Residences Sold"},"content":{"rendered":"

One of India’s most vibrant real estate markets, luxury property has experienced a remarkable comeback since the pandemic. Homebuyers who are HNIs (High Net Worth Individuals) and NRIs (Non-Resident Indians) have gained the most traction in the category, which has developed as a desirable investment location.<\/p>\n

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As the demand for luxury residences increased, 2021 saw a steady comeback from the epidemic. According to a recent estimate by the industry, NRI real estate investments alone reached a record high of $13.1 billion in FY21 and are projected to reach $14.9 billion in FY22. Many consumers today want to live in ecosystems with good connectivity and a wide range of options for work-live-play. There has been a noticeable trend towards individualized and fully serviced houses, which include maintenance, concierge services, upscale amenities, cutting-edge security, and other basic conveniences.<\/p>\n

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Buyers now are willing to pay a premium for the turnkey lifestyle and experience property characteristics that these properties offer, \u00a0Additionally, attention has switched to areas like health, safety, balanced living, and houses that integrate technology into daily life. Larger homes with adaptable floor plans, specific work places, more natural lighting and ventilation, outdoor spaces, and amenities that support their general wellbeing are in high demand. People are becoming more interested in integrated townships as they long for homes in self-sufficient environs with the benefits of contemporary urban living, even as demand for ready-to-move-in homes continues to rise.<\/p>\n

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Radhakishan Damani, Dmart’s founder<\/h2>\n

Malabar Hill, Mumbai<\/u><\/em><\/strong><\/p>\n

Radhakishan Damani, a successful investor and the creator of Avenue Supermarts, purchased the most expensive home in India in 2021. The property was bought for Rs 1,000 and is located in Malabar Hill, Mumbai. The home has a 5,700 square metre footprint.<\/p>\n

Premchand Roychand & Sons LLC & Phoenix Family Trust sold the 90-year-old property to Damani, one of India’s wealthiest people, through the trustees and business partners Varsha Mehta, Saurabh Mehta, and Jayesh Shah.<\/p>\n

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Neel and Ravi Raheja, Promoters, Raheja Group<\/h2>\n

Raheja Artesia, Worli, Mumbai<\/u><\/em><\/strong><\/p>\n

The promoters of the real estate company K Raheja Corp, Neel & Ravi Raheja, purchased the second-most costly home in 2021. They purchased three duplex apartments in the opulent Raheja Artesia building in Worli, Mumbai, for Rs 427 crore. The area of the property is 66,811 square feet.<\/p>\n

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JK Paper Ltd. Director Amar Singh Mehta<\/h2>\n

Delhi’s Prithviraj Road<\/u><\/em><\/strong><\/p>\n

One of New Delhi’s most upscale addresses is Prithviraj Road. Therefore, it is not unexpected that Amar Singh Mehta, Director of JK Paper, paid almost Rs 250 crore for the 3,731 square yard bungalow. One of the largest real estate transactions in Delhi in 2021 was this one. The sellers of this opulent home in the Lutyen’s Bungalow Zone were Vikramjit Singh and Bhai Manjit Singh, who were connect to Ranbaxy’s founder Bhai Mohan Singh. The property was register in the name of JK Papers Ltd.<\/p>\n

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Promoters for the Jaquar Group, Rajesh and\u00a0Ajay Mehra<\/h2>\n

Delhi’s Westend Greens<\/u><\/em><\/strong><\/p>\n

In April 2021, the Jaquar premium sanitary ware brand’s brothers Ajay and Rajesh Mehra purchased three opulent farmhouses in South Delhi’s Westend Greens neighbourhood. Each farmhouse has a size of 2.5 acres, and the deal was complete for Rs 235 crore.<\/p>\n

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Hari Krishna Exports’ owner, Ghanshyambhai Dholakia<\/h2>\n

Panhar Bungalow, Worli, Mumbai<\/u><\/em><\/strong><\/p>\n

The Panhar Bungalow, which is located next to the Worli seafront, was purchased by Ghanshyambhai Dhanjibhai Dholakia for Rs 185 crore.<\/p>\n

Hari Krishna Exports, a diamond business based in Surat, will use this property as a home for its owner and his family. The bungalow occupies a space of 19,886 square feet and has six levels in addition to a basement. This house was sold by Arkay Holding Ltd even though Harikrishna Exports Pvt Ltd was list as the owner on the registration.<\/p>\n

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The founder of Aakash Education is JC Chaudhry.<\/h2>\n

Delhi, Vasant Vihar<\/u><\/em><\/strong><\/p>\n

JC Chaudhary, the founder of Aakash Educational Services, bought a sizable 2,000 square yard bungalow in Vasant Vihar, Delhi. Aditya Techno Build Private Ltd sold the on-the-main-road property for Rs 150 crore. In accordance with the permitted floor area ratio, the overall area of the rebuilt house might reach 36,000 square feet.<\/p>\n

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Promoter of KEI Industries, Anil Gupta<\/h2>\n

Delhi’s Shanti Niketan<\/u><\/em><\/strong><\/p>\n

Promoter of the wire and cable company KEI Industries, Anil Gupta, paid Rs 140 crore for a bungalow in Shanti Niketan. Dinesh and Sumant Dhamija’s former home is now demolish. And the new owner will be permit to add up to four levels.<\/p>\n

Although Shanti Niketan is near to the Lutyen’s Zone. There are less construction restrictions there than there are in the Lutyen’s Zone.<\/p>\n

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Managing Directors of JB Chemicals & Pharmaceuticals are Pranab Mody and Purvi Asher.<\/h2>\n

Morena House, Carmichael Road, Mumbai<\/u><\/em><\/strong><\/p>\n

The promoter group of JB Chemicals and Pharmaceuticals including Purvi Asher and Pranab Mody paid Rs 138 crore for two seaview flats on Carmichael Road in Mumbai. The JSW Group is developing the housing complex Morena House, which is still under development. Mody purchased a 5,341 square foot flat on the fifth floor. His sister Asher paid Rs 68 crore for a 5,284 square foot home on the fourth floor.<\/p>\n

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Promoters for the NL Dalmia Institute is Shailesh and Natasha Dalmia.<\/h2>\n

Raheja Artesia, Worli, Mumbai<\/u><\/em><\/strong><\/p>\n

Four sea-facing apartments at Raheja Artesia, Worli were bought by Natasha & Shailesh Dalima for a total of Rs 125 crore. The 11,000 square foot apartments are on the 33rd floor. As part of the agreement, the pair will also have access to 12 parking spaces.<\/p>\n

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Realcon Abeeys LLP, ABIL Group<\/h2>\n

Malabar Hill satellite viewing, Mumbai<\/u><\/em><\/strong><\/p>\n

On the Napan Sea Road in Sesen, a duplex was bought by Avinash Bhosale’s Abeey’s Realcon LLP. The residence, which occupies the 53rd & 54th floors, is 7118 square feet in size and has a patio that is 3503 square feet in size.<\/p>\n

In 2021, SM Dyechem also paid Rs 103.6 crore for a duplex on the 51st & 52nd floors of the same building.<\/p>\n

These are a few of the notable transactions for $100 million or more that were complete in 2021. There were also several transactions between $50 and $100 million. Kris Gopalakrishnan, a co-founder of Infosys, paid Rs 76 crore for a house in Bangalore’s Koramangala neighbourhood.<\/p>\n

The depreciating value of the rupee in relation to the dollar has significantly increased the demand for ultra-luxury homes and villas among NRIs & HNIs. It’s interesting to note that such deals balance investment and end-use. Additionally, some of the deals contribute to the investment portfolios of people with deep pockets.<\/p>\n

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