Bollywood actor Amitabh Bachchan has bought a duplex apartment in Mumbai’s Andheri suburb for Rs 31 crore. Spread over 5,184 square feet in an under-construction project, Atlantis, the deal was finalised in December and the registration was completed recently. The Bollywood actor took advantage of the Maharashtra government’s announcement of stamp duty waiver of 2 percent until March 31, 2021. The deal drew a stamp duty of Rs. 62 lakh, 2 percent of Rs 31 crore. The duplex apartment is located on the 27th and 28th floor and comes with 6 car parks.
According to a Money Control report, the per square feet value of the property in the area will be around Rs. 60,000 sq ft.
The ongoing COVID-19 pandemic has given a massive boost to the sale of luxury apartments. And a lot of celebrities, businessmen, professional CXOs have made the most out of it. Both COVID-19-led price correction and stamp duty correction have assisted them in an easy purchase.
On August 26, the Maharashtra government announced to temporarily reduce stamp duty on housing real estate from 5 percent to 2 percent until December 31, 2020. The step was taken to boost the real estate market, which was stagnant for long, and had been adversely hit by COVID-19. Stamp duty remained 3 percent from January 1, 2021, to March 31.
After March 31, 2021, the Maharashtra government decided to not further extend the waiver on property registrations. And further kept the Ready Reckoner Rates uninterrupted for the financial year 2021-22.
Along with Bachchan, several celebrities including actress Sunny Leone, Bollywood director, and producer Aanand L Rai have taken the advantage of the stamp duty wavier.
In the same project, Leone had registered an apartment on the 12th floor for which the actress had paid Rs 16 crore on March 28.
Director-producer of romantic-comedy films, including Tanu Weds Manu and Zero, Aanand L Rai has also purchased a duplex apartment in the same project. Rai has bought the duplex for Rs. 25.3 crore. The housing units are located on the 27th and 28th floor, with each unit of 5,761 sq ft. It comes with five mechanised car parking slots.