Bollywood star Shahid Kapoor and his wife Mira Kapoor have recently invested in opulence, acquiring a lavish apartment worth approximately ₹59 crore within the prestigious Oberoi 360 West project, situated in Mumbai’s affluent Worli area. This acquisition, as per registration documents accessed by IndexTap.com, marks their latest foray into luxury real estate.
Perched on an upper floor of the Oberoi Realty’s towering creation, the Kapoors secured their new abode from Chandak Realtors Pvt Ltd, who obtained it as part of a bulk transaction in February 2023. The transaction saw 28 apartments changing hands for a hefty sum of ₹1,238 crore, with the notable involvement of D’Mart tycoon Radhakishan Damani’s inner circle.
Chandak Realtors had acquired the Kapoor’s new residence for ₹35.31 crore in February 2023, according to industry insiders.
Reportedly, the property’s value has surged impressively within just a year, with its price rocketing from approximately ₹65,000 per square foot to over ₹1 lakh per square foot, marking a remarkable appreciation of over 50%, as disclosed by an anonymous real estate consultant to HT Digital.
Dubbed Three Sixty West by Oberoi Realty, the project boasts twin towers offering an array of 4 BHK, 5 BHK, and duplex apartments, including penthouses. With its towering height of 360 meters and every unit positioned to embrace the western vistas, the project stands as an epitome of ready-to-move-in luxury living.
For this transaction, the Kapoors have reportedly paid a stamp duty of ₹1.75 crore, as indicated in the documents. This isn’t Shahid Kapoor’s first investment in the building; in 2018, he had acquired another apartment spanning 8,281 square feet for ₹55.60 crore, accompanied by a stamp duty of ₹2.91 crore.
Meanwhile, the luxury real estate market in India has witnessed a significant uptick, with a staggering 75% year-on-year growth in sales of properties priced at ₹4 crore and above in 2023. The surge is particularly notable in Delhi-NCR, which recorded a whopping 197% year-on-year increase, followed closely by Pune, Hyderabad, and Mumbai, as per CBRE South Asia Pvt Ltd’s latest report titled ‘India Market Monitor Q4 2023.’
