Latest news with #Alibaug
Mint
3 days ago
- Entertainment
- Mint
Kriti Sanon buys ₹78-crore sea-facing bungalow-style penthouse in Bandra
Bollywood actress Kriti Sanon has purchased a luxurious sea-facing duplex penthouse in the upmarket Pali Hill area of Bandra, Mumbai, for over ₹ 78 crore. Spanning 6,636 sq ft, the property includes six dedicated parking spots and a spacious 1,209 sq ft terrace. She has bought the home jointly with her mother. According to The Economic Times, the residence is located on the 14th and 15th floors of an under-construction building developed by Supreme Universal. The deal grants her exclusive rights to the parking spaces and the terrace. The official registration took place on Thursday, with a stamp duty payment of ₹ 3.91 crore. The transaction is valued at over ₹ 84.16 crore, working out to roughly ₹ 1.18 lakh per sq ft — making it one of the highest-priced property deals in Mumbai's suburban market. As a female buyer, Kriti benefited from a reduced stamp duty rate of 1%, instead of the usual 5%, under Maharashtra government rules. Kriti currently lives in a rented apartment in Andheri with her sister Nupur and their pet dogs. She is leasing the 27th and 28th floors of a premium residential complex. Last year, she invested in a 2,000 sq ft plot in Alibaug's exclusive Sol de Alibaug development by The House of Abhinandan Lodha, paying around ₹ 2 crore for the land in July. On the work front, Kriti will next be seen in Tere Ishk Mein alongside Dhanush, directed by Aanand L Rai. She is also set to appear in Cocktail 2 with Shahid Kapoor and Rashmika Mandanna.
Mint
31-07-2025
- Business
- Mint
Beyond Square Footage: How Luxury Real Estate in India Is Being Redefined
Luxury real estate in India is no longer defined by marble floors or skyline views. A new class of homeowners, that includes startup founders and next generation family office leaders, is reshaping the idea of luxury to focus on lifestyle, legacy, and ease of living. Whether in South Mumbai, Delhi, Gurgaon, or Pune, today's discerning buyer is looking for long term value and a sense of community rather than just opulence. This evolution is visible in how developers are repositioning their offerings. The market is shifting from a 'buy and hold' mindset to a 'live and thrive' proposition. Custom layouts, wellness focused architecture, smart home technology, and integrated mobility are increasingly becoming part of the standard blueprint. According to Knight Frank, residences priced above ₹ 1 crore accounted for nearly 50 percent of all units sold across India's top eight cities in H1 2025. Mumbai recorded over 47,000 sales, with a strong tilt toward mid-premium and luxury segments. The National Capital Region led in premium share. At the same time, under-construction luxury homes in Mumbai saw prices rise by up to 44% year-on-year, the sharpest jump across major metros. According to ANAROCK, homes priced above ₹ 1.5 crore accounted for 42 percent of new launches across India's top seven cities in Q1 2025, underscoring a growing focus on high-value housing. This shift is being driven by both end-user aspiration and investor appetite. Meanwhile, emerging lifestyle-oriented micro-markets like Alibaug, Goa, and Pune's Kharadi point to a rising preference for real estate with experiential value - properties designed around wellness, mobility, and second-home potential. Today's luxury buyer is more strategic and value-focused. According to the recent EY–Julius Baer Indian Family Office Playbook, capital preservation remains a key priority for around one in four family offices. However, there is increasing allocation toward asset classes like real estate and global equities, suggesting a growing appetite for long-term utility and liquidity. Features like smart layouts, energy-efficient materials, and proximity to urban green zones are becoming non-negotiable. Developers are responding with modular architecture, digital concierge services, and wellness-enabled environments. These include private fitness areas, community gardens, spa facilities, and clean air systems. What was once an upgrade is now standard for premium living. Several developers are evolving their portfolios to meet new buyer expectations for livability, wellness, and design. Among the many developers participating in this evolution, Mumbai-based Hubtown Limited serves as one case study. With more than four decades of experience and a portfolio spanning over thirty million square feet, Hubtown has evolved from a builder into a placemaker with an emphasis on civic responsibility. Projects like 25 South in Prabhadevi and 25 Downtown in Mahalaxmi or 25 West in Bandra are designed for multigenerational families and combine spectacular views with customizable plans and large floor plates. In suburbs such as Ghatkopar and Chembur, developments like Rising City and Seasons aim to deliver connectivity and community within self contained residential environments. The company is also building commercial developments at Ahmedabad and Mehsana that cater to the growing interest in commercial markets outside traditional metros. Hubtown has also been active in social infrastructure. It executed one of Maharashtra's first private slum rehabilitation projects under which more than ten thousand homes were delivered free of cost to eligible families. The company also developed the India's first robotic public car park in Mumbai's upmarket Breach Candy and helped upgrade public bus depots in Gujarat. This demonstrates how private real estate can intersect with public benefit. Outlook: Purpose Is the New Premium The future of India's luxury real estate will be defined by developers who can combine adaptability, design integrity, and civic foresight. For a clientele that is both globally mobile and deeply rooted, real estate must be more than just real assets. It must deliver meaning, consistency, and long-term relevance. Hubtown's model, while one among many, illustrates how real estate players that understand changing buyer psychology and urban responsibility may be better positioned to navigate the next cycle of premium housing. Note to the Reader: This article is part of Mint's promotional consumer connect initiative and is independently created by the brand. Mint assumes no editorial responsibility for the content.
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Business Standard
07-05-2025
- Business
- Business Standard
Rich using farmhouses to save crores in taxes, legally: CA explains how
Wealthy Indians are investing in agricultural land, not only for farming but also to build farmhouses. Such properties, when structured correctly in the law, help them accumulate wealth that appreciates in value and is exempt from tax, said Sarthak Ahuja, a chartered accountant, in a recent social media post. He highlighted how high-net-worth individuals (HNIs) are using farmhouses as a means to make tax-free wealth. Farmhouses for More Than Just Organic Living 'It's not just for organic vegetables and a big lawn…but to save crores in taxes,' Ahuja wrote on LinkedIn, the professional networking website, discussing the sudden surge in demand for farmhouses among HNIs. He cited examples of Mumbai residents buying in Karjat or Alibaug, Delhi-based investors looking beyond Manesar, and Bangaloreans targeting Coonoor. Agricultural Income is Tax-Free The primary incentive, according to Ahuja, lies in the tax treatment of agricultural income. 'Any businessman who has undisclosed cash coming in, can easily tell the tax authorities that they sold vegetables grown at the farm or milk from their farm animals… and keep depositing cash in their bank accounts,' he said. This also results in savings in Goods and Services Tax (GST). 'Most farm produce has either zero tax, or a minimal rate of 5 per cent. So both the Income Tax and GST saving can add up to almost +40per cent (sic) tax saving on the amount while making it tax free.' Cash transactions Ahuja pointed out 'The Tax Department requires one to submit the PAN of any person who buys something from you in cash for over Rs 2 lakhs… which is completely circumvented because they say many passersby stop by to buy fruits worth Rs five - ten thousand, pay in cash and just go away.' Additional benefits Stamp duty on agricultural land purchases is often negligible, depending on the state. 'Just tax benefits in itself can go into over a crore for someone who owns a couple of acres,' he said. Some investors are also monetising the properties. 'There's using the place for private parties, and then putting it on AirBnB for 6–7 days a month to recover the actual cost of maintenance.' Ahuja highlighted benefits under capital gains provisions: 'If you sell the piece of land, the capital gains are tax free under Section 54B, and you can invest that money in a bigger piece of agricultural land.'
