Mumbai: With the real estate market beginning to adjust to various reforms like demonetisation and most Indian metros witnessing recovery with sales improving, the report of a Mumbai Apartment flats being sold worth Rs 240 crore has created buzz in the property market.


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Touted to be one of the biggest residential transaction in recent times, the Taparia business family has brought four flats at an upcoming residential tower in South Mumbai's Napean Sea Road locality for a whopping Rs 240 crore.


The Taparias were once owner of of Famy Care Ltd — a Mumbai-based contraceptive manufacturer, which they sold for Rs 4,600 crore three years ago.


The Taparias have bought the flats between the 28th and 31st floors of the luxury tower.


The flats of the residential project being developed by Runwal Group was sold at around Rs 1.2 lakh per sq ft (super built-up area). Each flat has a carpet area of 4,500 sq ft. They have also brought car parking space for 28 cars.


Bulge-bracket property deals by the rich and the famous are not new to the land-starved megapolis. Other expensive realty deals in the area include the Jindal family's duplex property in Altamount Road at Rs 160 crore, Cyrus Poonawala's iconic Lincoln House worth Rs 750 crore, Patni Computers apartments in Runwal's The Residence at Rs 200 crore, and Nandan Nilekani's Rs 22.5 crore sea-facing apartment.


Zee Media tried to contact both Taparias and the Runwal Group but both were unavailable for comments.