Alkem Laboratories promoter buys Worli penthouse for ₹185 crore

The luxury residence, located in Lodha Sea Face, boasts a carpet area of 14,866 square feet and is situated on the 30th floor in the 40-storey high-rise

Mumbai: Seema Singh, one of the promoters of Alkem Laboratories, has acquired a sea-facing penthouse in Mumbai's Worli area for ₹185 crore.

The Worli apartment overlooks the Coastal Road. REUTERS/Francis Mascarenhas/File Photo/File Photo (REUTERS)

The luxury residence, located in Lodha Sea Face, boasts a carpet area of 14,866 square feet and is situated on the 30th floor of A Wing in the 40-storey high-rise, which overlooks the Mumbai Coastal Road and Arabian Sea. The transaction values the property at ₹1,24,445 per square foot.

According to transaction documents accessed through proptech platform IndexTap.com, Singh paid ₹9.25 crore in stamp duty and a ₹30,000 registration fee when the deal was finalised on December 11. The penthouse comes with nine parking slots.

"When we talk about Mumbai's luxury housing, it clearly screams Worli. The south Mumbai micro market had the top luxury projects of Mumbai by top developers of Mumbai right from Rahejas to Lodha to Oberoi to Birla. At an average level, Worli housing markets trade at ₹90,000 to ₹1,00,000 per sq ft on carpet. However, these exclusive projects by top developers at prime locations trade at 25-40% premium over the average due to its aspirational quotient, location, development quality, luxury amenities, etc.," said Abhishek Kiran Gupta, chief executive officer and co-founder of CRE Matrix and IndexTap.com.

Earlier this June, Singh had sold 3.58 lakh shares, representing a 0.3% stake in the pharmaceutical company, for ₹177 crore at ₹4,956 per share. The promoter holding in Alkem Laboratories has decreased by 0.72% over the last quarter.