Huge deal in Mumbai suburbs

4 BHK flat in Borivali sold for Rs 14 crore

It goes without saying how real estate prices are in Mumbai, the financial capital of the country. Currently, property prices in the suburban areas of Mumbai are soaring. A 4 BHK apartment in Borivali was sold for Rs 14 crore, translating to Rs 56,000 per square foot. This is the highest price recorded in Borivali so far. Remarkably, this price is comparable to areas like Andheri, Vile Parle, Dadar, and Mahim in Mumbai. This transaction has set a new benchmark in the Borivali property market.

The 4 BHK apartment, spanning 2,497 square feet, is located in a Grade-A residential building called Aquaria Grande, developed by the Wadhwa Group. The buyer, Hemant Patil, is a businessman from Mumbai. This flat, located on the 27th floor, also comes with two parking spaces. The transaction, registered on June 21, incurred a stamp duty of Rs 84 lakh.

In contrast, an apartment in Oberoi Sky City in Borivali fetched Rs 48,800 per square foot. Currently, the average price of apartments ranges from Rs 25,000 to Rs 40,000 per square foot, with many projects selling for around Rs 30,000 per square foot.

Areas like Pali Hill and Worli in Bandra are now among the most expensive locations in Mumbai, with several luxury apartments commanding prices between Rs 1.5 lakh and Rs 1.6 lakh per square foot.