2023 was the year of luxury when it came to the residential segment. The high-net-worth individuals (HNI) and their family members purchased luxury homes across three major cities including Mumbai, Delhi-NCR and Bengaluru.
As 2023 draws to a close, Moneycontrol brings you the list of top 10 luxury home deals by HNIs during the year.
Mumbai real estate market
1) Radhakrishna Damani and family
In perhaps the most talked about biggest property deal in the country in 2023, as many as 28 housing units worth Rs 1,238 crore were bought by family members and associates of D’Mart founder Radhakrishna Damani in Mumbai's Worli area in February 2023. The total carpet area bought by one of India’s top retailers, his associates and companies totals 1,82,084 square feet, including 101 car parks.
The buyers purchased the apartments in Tower B of Three Sixty West being constructed by Oberoi Realty. Most of these apartments have a carpet area of 5,000 sq ft and cost Rs 40-50 crore on average. The deal had come close on the heels of a provision in the Budget 2023 proposals that was expected to have an impact on the sale of uber luxury properties from April 1. A Rs 10-crore cap has been imposed on the reinvestment of capital gains from the sale of long-term assets, including housing property. No such cap was applicable earlier.
2) Taparia family
In the Mumbai real estate market, two projects — Oberoi Three Sixty West and Lodha Malabar were much talked about and where high-value luxury apartment deals were reported. Among the deals is one by family members of industrialist J P Taparia, founder of contraceptive maker Famy Care, who bought six sea-facing properties worth around Rs 369 crore in Mumbai from Macrotech Developers Ltd.
The deal was registered in March 2023, and the units come with 20 car parking slots. The total area of the residential units is 27,160.6 sq ft. The units are located on the 26th, 27th and 28th floors, documents showed. The consideration amount was Rs 369.55 crore. A stamp duty of Rs 19.07 crore was paid for the units.
3) Niraj Bajaj of Bajaj Auto
One of the most talked about residential deals in Mumbai was of Bajaj Auto Chairman Niraj Bajaj purchasing a sea-facing triplex apartment from Macrotech Developers in posh Malabar Hill in Mumbai for Rs 252.5 crore in March 2023. The project is Lodha Malabar Palaces by the Sea comprising 31 floors.
The total area of the three apartments was 18,008 sq ft (carpet area 12,624 sq ft), which come with eight car parking slots, documents showed. The stamp duty paid for the deal is Rs 15.15 crore.
4) Welspun Group
Welspun Group chairman BK Goenka purchased a penthouse for Rs 230 crore in Tower B of Three Sixty West in Worli. The penthouse, located on the 63rd floor, is spread across a carpet area of 29,885 sq ft with a terrace of 4,815 sq ft. The deal was registered in February 2023, and the buyer paid a stamp duty of Rs 13.83 crore. It came with 14 car parking spaces.
Delhi-NCR
5) Rohatgi Family
In February 2023, Vasudha Rohatgi, the wife of former Attorney General of India Mukul Rohatgi, purchased a 2,160-square-yard bungalow in Delhi's tony Golf Links for Rs 160 crore.
The plot area of the bungalow is 1806.35 square metres and the covered area of the entire building is 1869.7 sq m. The property's registration was completed in February 2023, and the family paid Rs 6.4 crore in stamp duty for the purchase.
Golf Links falls in the Lutyens’ zone, which is the country’s power district where the powerful politicians rub shoulders with top industrialists and bureaucrats. The area is one of the priciest real estate markets in the country, where construction is highly regulated as it is a designated heritage zone.
Also read: Year Ender 2023 | Luxury property sales rise in Mumbai, Rs 3-7 crore sweet spot for homebuyers
6) Bhanu Chopra
Businessman Bhanu Chopra, founder of RateGain, in February 2023 purchased a bungalow at Delhi Golf Links for Rs 127.5 crore. The multi-crore deal marked his entry into the elite club of corporates, businessmen and bureaucrats with lavish houses in posh areas of the national capital.
The registry documents of the deal accessed by Zapkey.com showed that the property was registered on February 24 in the names of Bhanu Chopra and Megha Chopra. The couple paid Rs 6.79 crore as stamp duty for the transaction.
Lutyens’ Delhi's Golf Links remains a preferred location for high net-worth individuals due to limited availability resulting in steady prices.
7) Rs 100 crore flat in Gurugram
In a first for Gurugram, a luxury apartment was sold for around Rs 114 crore at The Camellias by DLF on Golf Course Road in 2023 in a resale. The size of the luxury flat was 11,000 sq ft. The transaction was being compared with deals in New Delhi’s posh localities, which are among the priciest properties in the country.
The deal narrowed the gap between prices in older established micro-markets of the National Capital Region, known for their prime locations, with those of the relatively new Gurugram market. The price was at par with that of bungalows in the national capital’s upmarket areas and comparable to several premium sea-facing properties in Mumbai.
Bengaluru real estate
In the first half of 2023, when Bengaluru's real estate sector took a hit amid IT layoffs and global headwinds, luxury home deals continued to see an uptick.
8) Micro Labs
In one of the biggest luxury home deals for Bengaluru in 2023, Dilip Surana, the chairman and managing director of the pharmaceutical company Micro Labs Ltd, paid Rs 66 crore for a bungalow in Bengaluru.
The land along with the bungalow, measuring 8,373.99 sq ft, is spread across a total area of 12,043 sq ft and located in Fair Field layout along Devaraj Urs Road, formerly known as Racecourse Road, the sale deed showed. A stamp duty of Rs 3.36 crore was paid for the deal registration on March 8, 2023.
Also read: Year Ender 2023 | Karnataka RERA’s top 5 game-changing orders for Bengaluru in 2023
9) TVS Motors
TVS Motors bought a bungalow in Bengaluru's Koramangala area for Rs 20.93 crore in January 2023. Sprawling over a 5,000 sq ft land parcel, the house consists of two floors, four bedrooms, a basement, and a covered garage.
10) NRJN Family Trust
NRJN Family Trust set up by Nandan M Nilekani, co-founder and chairman of Infosys, sold a property in Bengaluru’s Billionaire Street Koramangala area for Rs 54.70 crore in January 2023.
Also read: Yearender 2022 | Ten expensive luxury home buyers of the year
The plot area is 9,488 sq ft and was sold to V Seetha, wife of C Valliappa, an industrialist and the founder of Sona Valliappa Group (an extension of The Sona Group). NRJN was represented by Sreepriya Nellicherry Sivaraman.
(Inputs by Mehul R Thakkar from Mumbai, Ashish Mishra from Delhi-NCR, and Souptik Datta from Bengaluru)
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