Godrej Group patriarch Adi Godrej’s wife, Parmeshwar, and son, Pirojsha, have put two marquee apartments in South Mumbai on the block.
Parmeshwar’s 3,401-square feet apartment in Planet Godrej at Mahalaxmi is designed by herself and has a reserve price of Rs15 crore or Rs44,000 per sq ft. The all-white apartment has a 360-degree sea view.
Pirojsha’s 2,916-sq ft apartment at Usha Kiran, Carmichael Road, one of the plush areas in South Mumbai, has a reserve price of Rs24 crore or Rs80,000 a sq ft. Pirojsha is also the executive director of Godrej Properties. Both apartments are being auctioned by property consultant Knight Frank.
“Pirojsha moved into a new house in Worli a couple of months ago, hence he wanted to sell off the old house, whereas the apartment designed by Parmeshwar Godrej was vacant for some time and she wanted to sell,” said Anand Narayanan, national director, residential agency, Knight Frank India.
The Godrej Group owns nearly 3,500 acres of land in Vikhroli, on Mumbai’s eastern suburbs, and the Godrej family has bungalows in Walkeshwar in South Mumbai and Juhu area on the western suburbs. Both are among the most expensive areas in Mumbai in terms of real estate.
Godrej Properties, the realty development arm of Godrej group, is undertaking property developments across the country.
Recently, Ambuja Cement put its apartment in NCPA Apartments on the block. The 3,500-sq ft sea-facing apartment at Nariman Point has a reserve price of Rs30 crore or Rs85,000 per sq ft. “There is a very strong demand coming for these properties. Since these are trophy properties, buyers from Delhi are also showing interest in them,’’ Narayanan said.
However, property sales in Mumbai in general are showing a decline, as prices have shot up sharply.