Premium realty project for Dubai NRIs in Thane

Piramal Realty has launched a premium residential tower Vivaan for NRIs in Dubai. The real estate arm of Piramal Group is developing Vivaan in Balkum, Thane exclusively for Dubai based Non Resident Indians.

Vivaan is the central tower in a residential complex, Piramal Vaikunth which spreads over 32 acres with a total of 14 towers.

The tower boasts of 60 2-BHK apartments with carpet area ranging from 949 sq ft to 1,027 sq ft Piramal realty has already begun bookings with a special offer price for 30 select residences. Speaking at the launch, the Executive Director of Piramal Group, Anand Piramal said, “We hope to see a good response for Vivaan as Mumbai is the first choice for NRIs in Dubai and buyers appreciate high-quality real estate.”

jatia house

Chairman of the $41billion Aditya Birla Group, Kumar Mangalam Birla emerged as the highest bidder for the sea-facing Jatia House in Mumbai’s largest-ever property deal. Birla proffered Rs 425 crore to buy the two-storey house in the city’s tony Malabar Hill area during a day-long auction on September 7th, 2015.
Jatia House is owned by the MP Jatia Group. The Jatias purchased the bungalow in 1972 from Meher Cawasji Vakeel. The Birla family, currently residing in Mangalyan at Altamount Road, plans to retain the new bungalow for personal use. A number of industrialists who have been born and brought up in south Mumbai, are now buying bigger spaces as their children grow up.

Birla has already paid 10% of the deal amount as token which will be closed in the next one month. Birla outpaced  five bidders, including Ajay Piramal ‘s Piramal Realty, for the 30,000 sq ft bungalow. This is the most expensive real estate transaction of Mumbai , after Sajjan Jindall’s purchase of Maheshwari House for Rs 400 crore and industrialist Adi Godrej ‘s bid of Rs. 372 crore for Mehrangir, the iconic bungalow of Homi Jehangir.

Goldman sachs

Global Investment Bank, Goldman Sachs is planning to invest Rs 900 crore or $ 150 million as the minority stake in Piramal Realty, which is Mumbai based real estate developer. Currently, Piramal Realty owns more than 10 million square feet of residential as well as commercial projects under development stage and they all are located in the premier areas of Mumbai (One of the most expensive real estate market in the world).

According to official statement of the company, Piramal Realty will use this money to buy more properties and expand its real estate portfolio in Mumbai as well as in its suburbs. As per the statement of Anand Piramal, who is Executive Director of Piramal Group, “This investment is for the purpose of entity level.” The more he added that there will be four or more projects as the part of entity and two partners will participate in them. However; Anand Piramal didn’t disclose the size of the stake after investment of Goldman Sachs. This is second investment by any company in Piramal Realty with in less than one month time as previously Warburg Pincus LLC, a unit of private equity firm, had stated in July that it is planning to invest Rs 1,800 crore or $ 284 million for a minority stake in company.

In present, India is second most populous country in all over the country and it is among few of the fastest growing economies, which have to cater the demand of housing and apart from that there are consistent rise in the price of property market. As we all know that earlier in same month, a luxury residential apartment was fetch by Indian businessman in Mumbai at a record price of Rs 202 crore.