Farah Bhajni, Shabina Malik Hadi, Zara Malik, Alisha Rafiq Malik and Zia Malik Lalji, promoters and co-promoters of footwear retailer Metro Brands, have bought five luxury apartments in Mumbai’s Worli area for ₹405 crore, as per documents accessed by Indextap.com
According to the documents, the five luxury apartments are located in one of Mumbai’s tallest buildings, Palais Royal, constructed by Honest Shelters Private Limited in Worli.
Alisha Malik and Zia Malik Lalji purchased two of the five apartments on December 20 for ₹162 crore, as reported by HT.com on December 24.
The documents show that 38,390 sq ft was purchased, along with stamp duty of over ₹20 crore and 20 parking spaces.
The first apartment, which measures 7,687 sq ft and was purchased by Ziya Malik on December for ₹81 crore, comes with five car parking spaces, according to the documents.
The second apartment, measuring 7,672 sqft, was purchased by Alisha Malik on December 20 for ₹81 crore and has five car parking spaces. The third apartment, measuring 7,687 sqft, was purchased by Farah Bhajni on December 23 for ₹81 crore and has car parking spaces.
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The documents further revealed that Shabina Malik Hadi purchased the fourth and fifth apartments, measuring 7,672 sq ft each, on December 24 for ₹81 crore and Zara Malik on December 26 for ₹81 crore, along with 10 car parking spaces.
According to reports, in September 2024, five promoters of Metro Brands Ltd. offloaded a stake worth ₹749.7 crore through open market transactions.
An email query was sent to Metro Brands did not get any response . Honest Shelters Private Limited could not be reached for a comment
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Mumbai’s Worli is a hotspot for luxury projects
Half a dozen high-profile transactions were registered in the Worli area alone in December.
Barnsley Football Club’s chairman, Neerav Parekh, and his mother, Kalpana Parekh, purchased two apartments worth Rs170 crore in the Worli area of Mumbai. According to property registration documents accessed by Indextap, both apartments were registered on December 5 and 7.
Jagdish Master, director of Deep Financial Consultants, has purchased a ₹105 crore apartment in a property in the Worli area of Mumbai, according to property registration documents accessed by Zapkey.com
On December 11, Alkem Laboratories promoter Mritunjay Kumar Singh’s wife, Seema Singh, purchased a luxury apartment for ₹185 crore in the Worli area of Mumbai.
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Worli in central Mumbai has become a hotspot for several luxury projects after South Mumbai, Lower Parel, Prabhadevi, and Bandra. The micro market has several projects in the above ₹1 lakh per sq ft price range.
The luxury housing segment that includes units priced at ₹4 crore and above saw sales increasing by almost 37.8% Y-o-Y during the Jan-Sep 2024 period on the back of high demand, CBRE South Asia Pvt Ltd said in its report titled India Market Monitor Q3 2024 – Residential.
