Sindhi family buys 10 flats for Rs 232 cr in Omkar's luxury Worli project

Virat Kohli, Yuvraj Singh, Baba Kalyani have also bought flats in project

A Sindhi business family has bought 10 super-premium apartments worth Rs 232 crore in the Omkar 1973 project in Mumbai’s plush Worli locality,  marking a record for luxury skyscrapers, said a report published by The Economic Times. 

The development comes at a time when Brihanmumbai Municipal Corporation (BMC) is planning to levy a one per cent surcharge on the sale and purchase of properties, which Business Standard had reported earlier this month. 

The country’s most expensive property market is witnessing a transaction of this magnitude in the residential segment for the first time in several years, exceeding the sum typically paid for homes in south Mumbai, experts said. 

“The transaction has been concluded recently and will be registered soon. The cost does not include the stamp duty amount. Out of the 10 apartments, five are bare shells and can be customised later,” said one of the persons cited above. “Being a large joint family, the Mumbai-based buyer is likely to have bought the apartments for personal use.” Omkar Realtors & Developers, the builder, declined to comment, further reported ET. 

Virat Kohli, Yuvraj Singh, Bharat Forge chairman Baba Kalyani, Kinetic Engineering’s Vice-Chairman Sulajja Firodia, education and sports baron DY Patil have all bought flats in the project. 

Of the 10 sea-view apartments purchased, totaling a built-up area of 50,000 sq ft, five are ready to move in and are below the 51st floor. The three, four and five-bedroom apartments in towers A and B range from 3,100 sq ft to 7,500 sq ft in area.  

In 2015, Business Standard had also reported that Ajay Piramal-led Piramal Fund Management lent Rs 1,200 crore to Omkar Group for a luxury housing project, Omkar 1973, in one of the biggest project financing deals back then. 

Indian cricket captain Kohli bought his apartment last year for over Rs 34 crore — a 7,171-sq ft apartment on 35th floor of tower C with a sea view. 

Omkar has sold about 70% of its inventory and has started giving possession of the first phase. Of the three towers, tower A and B are scheduled to be delivered in June, while the tower C is expected to be ready by mid-2018.