Alkem Laboratories Promoter Seema Singh Acquires ₹185 Crore Worli Penthouse
Seema Singh, a prominent promoter of Alkem Laboratories, has made headlines with her recent purchase of a luxurious sea-facing penthouse in Mumbai’s coveted Worli area for a staggering ₹185 crore. The opulent residence, located in the prestigious Lodha Sea Face, spans an impressive 14,866 square feet and occupies the 30th floor of a 40-storey high-rise overlooking the mesmerizing vistas of the Mumbai Coastal Road and Arabian Sea.
A Closer Look at Singh’s Lavish Acquisition
This grand transaction, finalized on December 11, involved Singh paying a substantial ₹9.25 crore in stamp duty along with a nominal registration fee of ₹30,000. Additionally, the high-end penthouse comes equipped with nine exclusive parking slots, adding to its allure and convenience for the discerning buyer.
According to transaction records accessed through the cutting-edge proptech platform IndexTap.com, the property’s value equates to an impressive ₹1,24,445 per square foot, reflecting the premium nature of this prime real estate gem in Mumbai’s upscale Worli neighborhood.
Insights from Real Estate Experts
Delving into the dynamics of Mumbai’s luxury housing market, Abhishek Kiran Gupta, the CEO and co-founder of CRE Matrix and IndexTap.com, shed light on the distinctive appeal of Worli as a hub for high-end residential developments. Gupta highlighted the premium pricing trends in this sought-after micro market, attributing the elevated values to factors such as location, quality of construction, luxurious amenities, and the aspirational allure of owning a piece of prime real estate in this iconic neighborhood.
Singh’s recent real estate splurge comes on the heels of a strategic financial move earlier this year, where she divested a portion of her stake in Alkem Laboratories by selling 3.58 lakh shares for a substantial ₹177 crore. This transaction resulted in a marginal decrease of 0.72% in her promoter holding within the pharmaceutical company over the past quarter.
In a city known for its glitzy skyline and high-stakes real estate deals, Seema Singh’s acquisition of the lavish Worli penthouse stands out as a testament to the enduring appeal and exclusivity of Mumbai’s luxury property market.
