Barnsley FC chairman Neerav Parekh buys 2 Mumbai apartments for Rs 170 cr

Neerav A. Parekh has acquired two luxury apartments in Mumbai's Naman Xana for Rs 170 crore. The properties, located in Worli, span over 17,500 sq. ft.

Neerav A. Parekh, the chairman of Barnsley Football Club in South Yorkshire, England, has purchased two high-end apartments in Mumbai for Rs 105 crore and Rs 65 crore, respectively, according to documents accessed by Indextap.

 

The two apartments are located in the prestigious Naman Xana building, located on Khan Abdul Gaffar Khan Road in the upmarket locality of Worli.

 

The first acquisition, a 7,104 square foot duplex apartment (No. 22) located in the exclusive Naman Xana complex, was secured for Rs 65 crore, with a stamp duty payment of Rs 3.25 crore. The spacious four-bedroom unit, which features state-of-the-art amenities, offers luxurious living at one of the city's most sought-after addresses.

 

In a separate deal, Parekh also bought duplex apartments 23 and 24 in the same complex. Covering a massive 10,441 square feet, these combined properties were purchased for Rs 105 crore, with a stamp duty of Rs 6.3 crore. These six-bedroom apartments are set to be some of the largest and most expensive residences in Mumbai, reflecting the growing trend of ultra-luxury purchases by high-net-worth individuals.

 

The Naman Xana complex is known for its modern architectural design and high-end facilities, catering to Mumbai's elite. Both apartments were sold by Shree Naman Residency Pvt Ltd and other parties.

 

The purchases are expected to set a benchmark for high-value transactions in the luxury residential sector in Mumbai.

 

"When we talk Mumbai luxury housing, it clearly screams Worli  This SOBO micromarket had the top luxury projects of Mumbai by top developers of Mumbai from Rahejas to Lodha to oberoi to Birla. At an average level, Worli housing markets trade at 90,000 to 100,000 per sqft on carpet. However, these exclusive projects by top developers at prime locations trade at 25-40% premium over average due to its aspirational quotient, location, development quality, luxury amenities, etc," said  Abhishek Kiran Gupta, CEO & Cofounder, CRE Matrix & IndexTap.com.

 

Indian businessman Parekh, who is also the majority owner of the club, is in his third season as chairman after initially investing in 2017.  In November 2023, two Suraksha Realty directors have purchased two 6,458 sq ft sea-facing apartments in Naman group’s ultra luxury project on the Worli Sea Face for Rs 100 crore.

 

Paresh and Vijay Parekh, who are directors in Suraksha Realty, signed the agreement for sale with Shree Naman Residency Pvt Ltd that was registered on November 7. Paresh Parikh’s apartment is located on the 26th floor, while brother Vijay Parekh’s is located on the 27th floor.