Dir BR Chopra’s family home sold

BENGALURU: Feat Properties Pvt Ltd, an associate firm of real estate developer K Raheja Corp., has bought a sprawling bungalow in suburban Mumbai’s upscale Juhu area, for Rs 182.75 crore.

The property, B.R House, was the family home of the popular Hindi film director and producer B.R Chopra, and has been sold by his daughter-in-law Renu Ravi Chopra, showed documents accessed by real estate data portal Indextap.com.

The 3278 sq metre plot is located opposite Hotel Sea Princess, on Juhu Tara Road, with around 2290 sq metre of constructed area. The transaction was registered on 27 May and stamp duty of close to Rs 11 crore has been paid.

K Raheja Corp is expected to develop luxury residences on the property.

“Other than south Mumbai, Bandra and Juhu have been the two prime luxury micro-markets in suburban Mumbai since decades. Both offer amazing views of the Arabian Sea and good social infrastructure. Affluent Mumbaikars have always eyed residing in these luxury locations and we foresee this trend to remain for many more years to come,” said Abhishek Kiran Gupta, CEO and co-founder, CRE Matrix and Indextap.

A K Raheja Corp spokesperson declined to comment.

Renu Ravi Chopra couldn’t be immediately reached. Mumbai-based K Raheja Corp is known for its high-end residential projects in some of the most sought-after locations in south Mumbai. Its super-premium project ‘Artesia’ in Worli, south Mumbai, clocked close to Rs 1500 crore of sales in 2021, making it one of the top-selling projects in the city. Its other luxury project ‘Vivarea’, also in Worli, fetched around Rs 850 crore of sales last year.

Luxury homes in Mumbai, the country’s most valuable property market, has continued to see relentless demand especially given limited supply by Grade A developers in premium neighbourhoods. although a lot of projects have been stuck due to the pandemic.

This year, Siddharth Jain, executive director, Inox Group bought a luxury, sea-facing quadruplex apartment for Rs 144 crore in south Mumbai’s upscale Worli area, underscoring continued robust demand for high-end properties in India’s commercial capital.