Vadilal Bhai Shah started the Everest Food Products firm in 1967. (Representative image)
Everest Group promoters paid Rs 73.50 crore for a 6,294-square-foot sea-facing property at Oberoi Realty’s upscale project Three Sixty West in Worli.
The Everest Food Products promoter group, well-known for its Everest brand of spices, recently paid Rs 73.50 crore for a sea-view luxury apartment in a super-luxury residential building on Dr Annie Besant Road in Mumbai’s affluent Worli locality.
Reportedly, the apartment has a carpet area of 6,130 square feet and is located on the 37th habitable floor of the Oberoi Three Sixty West skyscraper.
According to a report by The Economic Times, the deal is worth more than Rs 1.16 lakh per square foot. The buyer reached an agreement with project developer Oberoi Realty, and the flat was registered on October 30, this year.
According to documents accessed through Zapkey.com, the buyer will also have access to an extra 164 sq ft area adjacent to the property as well as a total of six car parking spots as part of the purchase.
The buyer paid roughly Rs 2.41 crore in stamp duty for the registration of the flat. Oberoi Realty sold the flat three years after purchasing it from joint venture partner Sahana Group.
The state exchequer pays only stamp duty on the profit from the sale if the property is resold within three years of its initial acquisition agreement with the developer, according to the set-off period laws, reports add.
Details on Everest Food Products:
Vadilal Bhai Shah founded the Everest Food Products firm in 1967, and Shah’s son Sanjeev joined the group in 1981, increasing its manufacturing and distribution presence.
According to the company’s website, the firm creates 45 distinct spice items and exports them to more than 80 countries.
Source: News18