Magicbricks moderator says - Recently, BJP MP Vinod Khanna bought a residential apartment at Malabar Hill from Citibank for Rs 1.25 lakh per sq ft. Khanna has paid Rs 31.25 crore for the 2,500 sq ft flat. The sale price was four times higher than the reserve price of Rs 32,000 per sq ft.
In a similar transaction nearly six months back, a London-based NRI acquired a 3475 sq ft property in NCPA apartments at Nariman Point for Rs 97,842 per sq ft.
It seems only the rich can think of buying property in Mumbai.
- Is property becoming unaffordable in Mumbai?
- Are there any property options for the middle and lower income groups in Mumbai
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This is just about one posh flat in Mumbai. Does not indicate the price rise in the city.
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