How to buy a house for Rs 7,000
A house for only Rs 7.25 lakh, the costliest house in the city, was sold by the agency Hamilton Insurance Agency on Thursday for a record-breaking Rs 17.75 lakh.
The house, which is located in Durgapuram in Mumbai’s Kheri Nagar, was listed for auction in February, but it sold on Thursday.
The property, which has a four-room apartment in the building, is one of the few properties in Mumbai worth Rs 7 lakh to Rs 10 lakh.
“It was sold on Wednesday,” said Hamilton chief executive N.B. Gupta, adding that the auction went smoothly.
“The buyer wanted to sell for Rs 11 lakh and we took the offer.”
The agency had initially set the house for auction for Rs 6.5 lakh.
But in the last few days, it has sold the house to the highest bidder.
“We have not yet decided on the final price,” said Gupta.
He said the buyer is in touch with the agency and the next step will be to finalise the final terms of the sale.
“They will be announced soon,” he added.
“I don’t know the final figure of the bid, but the buyer has come up with a lot of money.”
He said that it would cost the buyer an additional Rs 7500 to Rs 7800 for the property, depending on the land tenure.
The agent had already set the price of the house at Rs 755,000.
The buyer is believed to have come up from a family with a house in Mumbai.
The agency said that the sale of the property was a significant milestone for Mumbai.
“This is a huge deal for us as we have had several auctions in the past, but this is the first time that we have sold a property on such a high valuation,” said the agency’s managing director Rajendra Raju.
The buyers are believed to be in the midst of completing the final stages of the listing process.