Abhishek Bachchan sells luxury apartment in Worli in Mumbai for Rs 45.75 crore

Bollywood actor Abhishek Bachchan has sold a luxury apartment in a near-completed mixed-use skyscraper, Three Sixty West in the town of Worli in Mumbai, for Rs 45.75 crore. Bachchan had purchased this apartment in the project, which is being developed by, in November 2014 for Rs 41.14 crore.

The transaction for the Arabian Sea View Apartment on the 37th Floor, which is the 21st floor of Tower B habitable, attracted stamp duty of Rs 2.28 crore.

According to the agreement registered on Tuesday, the buyer of the 7,527-square-foot apartment will have exclusive access to four parking lots, according to documents accessible via Zapkey.com.

The project, Three Sixty West, includes two towers on Dr. Annie Besant Road in Worli. While one of the towers will house the Ritz-Carlton hotel and the other luxury residences managed by the Ritz-Carlton.

The project is almost ready for possession and has requested a certificate of occupancy from the civic authority. Many buyers including manufacturers have already taken possession to start their interior and development work.

ET’s email request to Abhishek Bachchan went unanswered until going to press.

This project saw several high-level industrialists and professionals acquire properties. Recently, veteran banker and former Managing Director and CEO of IndusInd Bank Romesh Sobti also purchased two sea view apartments for over Rs 76.30 crore in this super luxury project.

The Bachchan transaction has been finalized and closed now and did not benefit from the lower stamp duty that was available until the end of March. The state government had offered an easing window of an additional four months until the end of July to record transactions on the condition that the stamp duty was paid before the end of March.

With the aim of reviving the real estate sector and nearly 260 related industries by encouraging home sales, the state government announced a reduction in stamp duties to 2%, from 5% from September to the end of December. Stamp duty was charged at 3% of the deal value between January and March 31.

Over the past year, the Mumbai real estate market has witnessed many high value deals for luxury apartments.

Several business figures, entrepreneurs, industrialists, Bollywood actors including Amitabh Bachchan, Hrithik Roshan, Rani Mukherjee, Alia Bhat, Disha Patani, investment bankers and cricketers have bought luxury apartments and closed their transactions during this period.

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