Everest Food Promoter Family Invests in Oberoi Realty’s Luxurious Three Sixty West
Members of the Vadilal Shah family, part of the promoter group of Everest Food Products, have purchased apartments in Oberoi Realty’s luxurious project, Three Sixty West in Worli, Mumbai, for a combined value of ₹217 crore. The buyers include Rajeev Vadilal Shah, Sanjeev Vadilal Shah, and Aditya, Rajeev’s son.
Three High-End Apartments Purchased
These three apartments span 6,921 square feet each. One of the apartments was sold for ₹70 crore, while the other two were sold for ₹73.5 crore each. The average rate of the purchases is well over ₹1 lakh per square foot. Three Sixty West is considered one of the most expensive apartment complexes in Mumbai, attracting the elite of the Indian corporate sector and industry top executives.
Recent High-Profile Purchases
In February, the family and friends of Avenue Supermarts founder Radhakishan Damani purchased around 28 flats in the high-rise for approximately ₹1240 crore. In August, Westbridge Capital’s MD, Sumir Chadha, bought a flat for nearly ₹100 crore.
Growing Popularity of Luxury Homes
In a recent analyst call, Oberoi Realty’s chairman and managing director Vikas Oberoi stated that about 50 families have moved into the complex. The project has benefited from the increasing demand for luxury houses in the past two years. According to a recent report by property consultant ANAROCK Research, sales of houses priced at over ₹40 crore have surged 3.5 times year-on-year in terms of value. In 2023 so far, almost 60 ultra-luxury homes have been sold across the top seven cities in India, with a total sales value of over ₹4000 crore. Mumbai alone accounted for 53 of these deals, with 79% of them closed by business owners and 16% by corner office occupants.
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