In perhaps the most expensive real estate deal in Mumbai’s suburb Borivali, a 4 BHK luxury apartment was sold for ₹ 14 crore with the per sq ft rate amounting to ₹ 56,000 per sq ft, according to the property registration documents accessed by CRE Matrix. This is historically the highest rate at which a property has been sold in Borivali and the price is at par with other locations like Andheri, Vile Parle, Dadar and Mahim of Mumbai, real estate experts told HT.com The deal sets a new benchmark for the Borivali property market.
The 4 BHK apartment spread across 2,497 sq ft is located in a Grade A residential building named Aquaria Grande constructed by the Wadhwa Group. The apartment was purchased by a Mumbai Metropolitan Region (MMR)- based businessman Hemant Patil. The apartment comes with two parking spaces and is located on the 27th floor, according to the documents.
The transaction registered on June 21, 2024 involved a stamp duty of ₹ 84 lakh, the documents added. The highest per sq ft rate for Borivali until now was for apartments in Oberoi Sky City where an apartment was sold for ₹ 48,800 per sq ft by Oberoi Realty, according to data accessed by CRE Matrix. "This deal in Aquaria Grande at 56,000 per sq ft is the highest traded price till date in Borivali west, clearly indicating the appetite for luxury homes even in the furthest northern suburb of Mumbai," said Abhishek Kiran Gupta, CEO and co-founder, CRE Matrix.
Average price of apartments in Borivali range.
