India SIR signs agreement to sell ₹800 crore worth 19 ultra-luxury apartments in Mumbai
₹800 crore worth ultra-luxury apartments at Worli in Mumbai. The property consultant, in a statement, said the company has signed an exclusive sales and marketing agreement with The Residency, Worli, Mumbai that houses 19 ultra-luxury residences.
Prime Realty is the developer of this project, India SIR said. These ultra-luxury residences are ready with completion and occupancy certificates, India SIR added in the statement The property consultant said the price of these ultra-luxury residences, size of each flat is around 5,510 square feet, starts at ₹60 crore each and few units have already been sold.
India Sotheby's International Realty has got mandate to sell ₹800 crore worth properties. Amit Goyal, Managing Director of India Sotheby's International Realty, said, "Luxury real estate sales in India's financial capital and its wealthiest city, registered record-setting sales in the first six months of 2023." India Sotheby's International Realty did not disclose how much brokerage fee it will earn from sales of these units.
The company had in April announced growth of over 50% in the gross property sales turnover for FY 2023 over FY 2022. The sales value of real estate transacted in FY 2023 stood at $450 million against $300 million in the previous year.
Out of the total property transactions, around 92-93% were in the residential segment while the rest are in commercial properties and capital market property transactions. The company's other business highlights for FY23 include a strategic investment in prop tech firm CRE Matrix, with an acquisition of 12 percent equity.
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