Little Gibbs Road at Malabar Hill is a charming, upmarket residential enclave where the creme de la creme live, virtually cut off from the hustle and bustle of a congested metropolis. On Tuesday, one of its most prominent landmark buildings, Il Palazzo, created a national record after an apartment here was sold at an astonishing rate of Rs 1.20 lakh a square foot—-each floor tile more expensive than a Nano car.
The successful bidder was none other than veteran Bollywood star and BJP MP Vinod Khanna and his wife Kavita, who paid Rs 30 crore for the 2,500 sq ft (carpet area) flat located on the 13th floor of the B wing. The Khannas already own an apartment in the C wing of the 21-storeyed Il Palazzo.
The last big sale happened about six months ago when a flat measuring 3,475 sq ft (super built up) in the NCPA Apartments at Nariman Point was bought by a London-based NRI at the rate of Rs 97,842 a sq ft.
The Il Palazzo flat, 13B, is a sea-facing flat with a large living room, spacious bedrooms and a separate servant's quarter. It was put up on the block by its owner, Citibank, about two weeks ago. The auction took place at the bank's 7th floor office in the IL&FS building in the Bandra-Kurla Complex at 10.30 am and continued till noon. There were 12 bidders in all. The auction was conducted by Mrunal Duggar of C B Richard Ellis, a global property consultancy firm.
Among the other bidders, TOI has learnt, was ex-Citibank honcho Jerry Rao and a certain Ms Malhotra, daughter of a former headmistress of a prominent south Mumbai school.
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