Mumbai: Over tea and sandwiches at the Citibank office in Mumbai’s Bandra-Kurla Complex (BKC) at 10.30 am on Wednesday, family members and representatives of some of India Incs top guns settled down to outbid each other for a luxurious apartment.
By noon, the country’s largest-ever (official) residential transaction was over when a four-bedroom flat at NCPA Apartments at the Nariman Point end of Marine Drive fetched a gravity-defying price of Rs 97,842 per sq foot or Rs 34 crore. The 7th floor pad (No 74) was put up for sale this month by its owner, Citibank. Media has learnt through reliable sources that the winning bidder is UK-based NRI Kewalramani (initials unavailable), who bought it in the name of Record Investments and Leasing Pvt Ltd. Sources said Kewalramani had been looking to buy a flat in NCPA and earlier evinced interest in a flat on the 21st floor. But the owner had turned down the offer.
The apartment has a super built-up area of 3,475 sq ft and a carpet area of roughly 2,100 sq ft. As laid down by Citigroup, only the top five bidders were invited on Wednesday. When the sealed envelopes were opened, Kewalramani’s quotation was found to be the highest at Rs 28 crore. But when the opportunity was given to everyone to raise their bids, the UK NRI went up to Rs 34 crore.
Others in the fray included the wife of the CEO of one of the country’s largest private telecom companies, who stopped at Rs 31 crore. The wife and daughter of the chairman of a new private sector bank quoted the second highest price of Rs 33.6 crore. An official representing a trusted CEO in one of the country’s most respected business houses, sat patiently, but did not raise his offer of Rs 20 crore. A woman, who has an apartment in NCPA, was also present with a bid of Rs 29 crore. A representative of a Bangalore-based developer also came, but was not allowed to participate as its bid of Rs 18 crore was not among the top five.
