 "Public auction of 3,000 sq ft Cuffe Parade flat in SoBo fetches whopping Rs 30 cr")
A sea-facing 3,000 sq ft apartment in South Mumbai’sposhCuffe Parade has been sold for Rs 30.50 crore to a city businessman through a public auction.
According to a report in The Times of India , the 3,000 sq ft apartment in Maker Towers B, which was put up for auction after the owner declared himself insolvent, has been sold to a certain Arif Fazlani, managing director of Sopariwala Exports.
The flat with open parking space has four bedrooms with attached toilets, a living room, one kitchen, one dining hall, one utility room and a servant’s room with attached toilet.
Flats in Maker Tower currently sell for anything between Rs 28-30 crore but it is very rare that one measuring 3,000 sq ft will be up for grabs. No wonder the buyer is willing to shell out slightly more than the market rate.
According to the ToI report, the reserve price for the flat had been fixed at Rs 28 crore or Rs 93,333 per sq ft while flat was sold for Rs 1.01 lakh per sq ft.
Read the full ToI report here .