Largest flat sale? 16,878 sq ft South Mumbai apartment sells for Rs 202.5 cr

'The Residence' being constructed by Runwal Township Pvt Ltd on Nepean Sea Road.

In what could be the largest deal in terms of flat size in Mumbai, an industrialist has paid nearly Rs 202.50 crore for a triplex flat in Nepean Sea Road.

'The Residence', being constructed by Runwal Township Pvt Ltd on Nepean Sea Road. Pic/Bipin Kokate

According to sources from the real estate sector, the triplex apartment consists of three floors with two flats on each floor. The flat is spread over the 20th, 21st and 22nd floors in the building called ‘The Residence' located at Nepean Sea Road near Kilachand House. The building is being constructed by Runwal Township Private Limited and, along with the triplex flat, the owner will also get 21 car parking slots. The carpet area of the flat is 16,878 square feet.

Where the building is being constructed, there once stood a bungalow that was bought by Runwal for Rs 350 crore. While the identity of the buyer isn't yet known, sources from the real estate sector claim that the person who bought the flats is an industrialist with interests cutting across various sectors.

Mum's the word
Builder Sandeep Runwal told mid-day, "We have a non-disclosure agreement regarding the deal, and cannot comment on any flat sale."

According to a senior official from the builder, the deal was done directly by the buyer and the builder and nobody else was involved. A real estate broker who is aware about this development said, "The current price of flats in the building is Rs 1.20 lakh per square foot, and going by that the total carpet area of 16,878 square feet (the price) will come up to upwards of Rs 202 crore ."

An official from Runwal said, "The person who has bought the flat is an industrialist and the flat has been bought for his family to stay. The industrialist is a well-known face with interests in several industries."

"The builder does not want to disclose the identity of the buyer because the industrialist doesn't wish to be named right now and the builders do not want the deal to be affected in any way," he added.