Top five expensive real estate deals in 2012

There were some big-budget real estate deals in 2012 and hefty amounts were spent to acquire the desires deals. Here is a list of some most expensive deals of the year.       

1. Sajjan Jindal, Mumbai

Steel giant Sajjan Jindal spent over Rs 200 crore to acquire Maheshwari, a sea-facing bungalow on Nepean Sea Road. In 2011, the steel tycoon paid Rs 300 crore to members of the Maheshwari family for the bungalow. The deal was finalized this year and it cost Jindal Rs 200crore to buy the dream bungalow.

2. Bayer Cropscience, Thane

The 108-acre plot in Thane was another big-budget deal of the year. It took two years to finalize the Rs 1,250-crore-deal between Bayer Cropscience and Kalpataru. DB Realty had an eye on the plot but backed out. Kalpataru wants to develop the land as a mixed-use development with the first projects to be announced in 2013.

3. Lodha Group, Mumbai

After much hesitation for three years, Gurgaon-based cash-strapped real estate group DLF sold the 17-acre National Textile mills land plot to the Lodha Group for Rs 2,725 crore. DLF had acquired the land in 2005 for Rs 700 crore, and had initially planned a mall, office blocks and apartments on it.

4. Blackstone, Bangalore

India’s IT Capital Bangalore witnessed the country’s largest commercial real estate deal in 2012. Blackstone paid Rs 1,000 crore for over 10 million sq feet of office space. The commercial space was built by the Embassy Group. Rental income will accrue to Blackstone and it can also pocket gains from property appreciation.

5. Sudhir and Samir Mehta, New Delhi

LN Mittal and Sunil Mittal had bought expensive bungalows on Amrita Shergill Marg and off late Sudhir and Samir Mehta of Torrent Pharma paid Rs 111 crore for a 1,124 sq yard plot in Chanakyapuri. The deal valued the land at over Rs 10,00,000 per square yard, a record.