Akshay Kumar and Twinkle Khanna Sell Mumbai Apartment for Rs. 80 Crore in High-Value Transaction

Akshay Kumar and Twinkle Khanna Sell Mumbai Apartment for Rs. 80 Crore in High-Value Transaction

Akshay Kumar and Twinkle Khanna Sell Mumbai Apartment for Rs. 80 Crore in High-Value Transaction

Bollywood actor Akshay Kumar and his wife Twinkle Khanna have sold their luxury apartment in Mumbai’s upscale Worli locality for Rs. 80 crore. The high-end property, spanning a carpet area of 6,830 sq. ft., is situated on the 39th floor of one of the towers in the prestigious Three Sixty West development on Dr. Annie Besant Road. The transaction also includes exclusive rights to four car parking slots within the building.

The deal, which was registered on January 31, has attracted a stamp duty of Rs. 4.80 crore, as per property registration documents accessed through IndexTap.com. Akshay Kumar originally purchased the apartment in August 2015 for Rs. 27.95 crore before transferring ownership to Twinkle Khanna in September 2015 for Rs. 32 crore.

Three Sixty West is a luxury mixed-use development featuring two towers, one of which houses The Ritz-Carlton Hotel, while the other comprises high-end residences managed by The Ritz-Carlton. The project is considered among Mumbai’s most premium addresses, attracting a clientele of high-net-worth individuals (HNIs).

This transaction is part of a broader trend of high-value property sales by HNIs, including Bollywood celebrities, which can be attributed to price appreciation over the past few years, strategic tax planning through capital gains offset, or a combination of both. The real estate market continues to be a preferred investment avenue for affluent individuals, with many Bollywood celebrities and sports personalities actively investing in premium properties as a wealth-building strategy.

About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/