Film actor Manoj Bajpayee and his wife, Shabana Raza Bajpayee, have sold their apartment in the upscale Mahalaxmi neighborhood of South Mumbai for Rs 9 crore, according to documents reviewed by real estate consultancy Square Yards and property sales platform IndexTap.com. The couple originally purchased the apartment in the Minerva residential tower in 2013 for Rs 6.40 crore.
The Minerva tower, developed by Lokhandwala Kataria Constructions, comprises 362 units on a two-acre land parcel. The Bajpayees’ apartment, located on the 47th floor, has a carpet area of 1,247 square feet (116 square meters) and includes two car parking spaces covering a total of 240 square feet (22 square meters).
Bajpayee has also invested in commercial real estate, spending Rs 32 crore last year on four office spaces in Oshiwara, located in Mumbai’s western suburbs.
The buyers of the Mahalaxmi apartment have been identified as Praveen Jhanji and Saloni Jhanji. A stamp duty of Rs 54 lakh was paid for the transaction, which was registered on August 16.
Minerva, one of Mumbai’s tallest buildings, has faced controversies, including significant delays in granting possession to homebuyers. This led the Maharashtra Real Estate Regulatory Authority (MahaRERA) to order the developers to pay interest to a homebuyer. The developer received a part-occupation certificate in early 2023 after MahaRERA extended the project’s registration to December 2024. According to the developers, the project is now complete.
The developers attributed the delays to various policy changes, court orders, and objections, including those from the nearby Arthur Road Jail. Lokhandwala Kataria Constructions later partnered with Shapoorji Pallonji Real Estate to market the project and secure additional financing.
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