MUMBAI: Family members of Bharat Shah, former whole-time director of ASK Asset & Wealth Management Group, have purchased four luxury apartments in Mumbai’s upscale Worli neighborhood for approximately ₹180 crore. The apartments are in the Kalpataru One residential project and were acquired directly from Kalpataru Properties by Preeti and Kinnari Bharat Shah. The transaction was registered on July 6 and involves four units located on the 34th and 35th habitable floors of Wing A, each valued at around ₹44.85 crore.
The total RERA carpet area of the four apartments is 17,689 sq ft, and the deal includes 16 car parking spaces, according to registration documents from Zapkey.com. The buyers paid ₹8.97 crore in stamp duty, benefiting from a 1% concession available for properties registered in women’s names per Maharashtra government regulations.
Shah chose not to comment, and RealtyDailyNews’s email inquiry to Kalpataru has not been answered. This transaction is part of a trend in Mumbai’s luxury housing market, where business families, entrepreneurs, and executives are increasingly acquiring high-end residences in prime areas like Worli and Lower Parel.
Demand for luxury and ultra-luxury homes has remained strong, fueled by wealth creation, active involvement from high-net-worth individuals, and a preference for larger homes with premium amenities. Real estate developers have responded by increasing the supply of luxury residential projects throughout South and Central Mumbai.
