Bollywood actress Karisma Kapoor and mother Babita Kapoor have sold an apartment in Mumbai Rs 10.11 crore, joining the list of celebrities and industrialists who are making the most of a cut in stamp duty and the consequent real estate boom in India’s financial capital.
Bollywood actress Karisma Kapoor and mother Babita Kapoor have sold an apartment in Mumbai Rs 10.11 crore, joining the list of celebrities and industrialists who are making the most of a cut in stamp duty and the consequent real estate boom in India’s financial capital.
Karisma Kapoor poses before a poster of herself during the launch of her debut in a television soap opera "Karisma - The miracles of destiny", during a media gathering in Bombay on August 18, 2003.
Kapoor, who was the lead actress in movies such as Raja Hindustani and Dil To Pagal Hai, sold a 10th-floor apartment in Mumbai’s Khar area. The sale of the 1610 sq ft apartment was registered on December 24. The Kapoors paid a stamp duty of Rs 20.22 lakh.
Real estate brokers active in the Mumbai area said the apartment is located in Mumbai’s posh Bandra area and the current rate of an apartment of this size is around Rs 55,000 per sq ft.
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“The apartment has been sold at market rate. New buildings in the area command as much as Rs 65,000 per sq ft and sea-facing apartments can go as high as Rs 90,000 per sq ft,” said Ritesh Mehta, Senior Director & Head - West India, Residential Services, JLL India.
In 2018, Kapoor, who is no longer active in Bollywood, sold her 675 sq ft flat in Bandra for Rs 7 crore, 3.7 times more than the market value of Rs 1.89 crore. She transferred her rights on the flat to Silver Birch Real Estate Private Limited, a Bandra East-based firm, at Rs 1.03 lakh/sq ft.
