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Mumbai: Wife of Mangalam Organics chairman buys Pedder Road duplex for Rs 53 cr

11:22 PM Nov 22, 2021 | Sweety Adimulam

Mumbai: The demand for super luxurious homes across India is on the rise, and in one such transaction in Mumbai, Alka Dujodwala, the wife of Mangalam Organics chairman Kamalkumar Dujodwala, recently bought a duplex apartment at Pedder Road for Rs 53 crore. The apartments, on the 13th and the 14th floors of the building 33 South, comprise 3,400 square ft built-up area. The new owner also received seven parking bays.

Alka Dujodwala, a promoter of Mangalam Organics, paid Rs 2.12 crore in stamp duty for the duplex which was previously owned by JSW Steel and Peddar Realty.

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According to ANAROCK Research, in the first three quarters of 2021, the Mumbai Metropolitan Region witnessed a new supply of around 38,210 units across various budget segments. Of these, nearly 5 per cent are in the luxury segment, priced upwards of Rs 2.5 crore. ANAROCK Group chairman Anuj Puri said, “Maharashtra government ’s limited-period stamp duty cut had a major positive impact on MMR’s residential market, including the hyper-expensive luxury locations. Residential sales went up significantly over the year. MMR also shed at least 8 per cent of its unsold stock – from 2,08,250 units as on Q3 2020-end to nearly 1,92,050 units as on Q3 2021-end.”

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Niranjan Hiranandani, national vice chairman, NAREDCO, and MD, Hiranandani Group, said that the Covid pandemic had made people re-evaluate priorities. “The new paradigm of luxury housing demands sustainable and wellness living as an integral part along with spacious apartments with exclusive amenities,” he said.

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