vIndianz.com (24 Feb, 2010) — Mumbai: Ten duplex apartments at the under-construction Lotus Villa in the Napean Sea Road area of south Mumbai have been priced at a minimum Rs 100 crore each, reported The Indian Express.
Each square foot of the apartments costs Rs 1 lakh — nearly thrice as much as the per-square foot price of an apartment on the hundredth floor of Dubai’s Burj Khalifa, the world’s tallest tower. For the price of one Lotus Villa apartment, you could buy about 1,500 low income flats in the public housing project in the suburb of Ghatkopar. Each apartment will have a super-built up area of 12,750 sq ft including a private terrace garden. These castles in the air will be India’s costliest apartments, and among the largest on offer in India’s financial capital, the report added.
Kalpana Shah, Chairman and Managing Director of the Satellite Group, which is building the apartments, declined to comment on the price.
Every inch of land in south Mumbai commands astronomical prices. Mumbai’s last big-ticket apartment sale took place in 2007, when a flat at NCPA Apartments on Nariman Point went for Rs 34 crore.
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