Mumbai businessman pays INR 2.09 lakh per square feet


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Every Mumbaikar dreams of owning a house in Mumbai but it doesn't come cheap. There is one Mumbaikar who bought a flat in Ashford Palazzo worth INR 45 Cr and paid INR 2.25 Cr as stamp duty. 

Ranjit Malhotra, city businessman paid INR 2.09 lakh per square feet and the deal was registered on August 9.

Ashford Palazzo is a 19-storey structure which has one flat per floor. The building boasts of six levels of parking, a gymnasium, banquet hall, children’s play area and a service floor. Malhotra bought an apartment on the ninth floor while his wife Uma Malhotra bought one on the 15th floor. Her flat’s built up area is 2,690 square feet while the carpet area is 2,168 square feet.

Ranjit and Uma Malhotra are both directors of Empire Industries. She runs a school for underprivileged children while Ranjit is an MBA from the University of Texas.

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