Former India speedster Zaheer Khan and his wife Sagarika have bought a 4,000 sq ft property in Mumbai for Rs 11.5 crore.

The cricketer has joined the list of celebrities and industrialists who are making the most of the stamp duty cut in India’s financial capital.

The former sportsperson paid a stamp duty of Rs 37.4 lakh for the 3957  sq ft (carpet area) property located on Senapati Bapat Marg, Parel, according to the documents accessed by Zapkey.com.

As per the documents, the duplex is located on the 40th and 41st floor of the said project. The property was registered on December 14, 2020.

Property consultants say that the average price in the Indiabulls Sky Project is between Rs 25,000 to Rs 28,000 per sq ft.

Presently, the average asking price for an apartment at Indiabulls Sky Project is anywhere between Rs 25,000 to Rs 28,000 per sq. ft. on built-up while in pre-COVID times (over a year ago) the average asking price was approximately Rs 32,000 to Rs 35,000 per sq. ft, said Prashant Thakur, director, and head - Research,  ANAROCK Property Consultants.

Khan hails from a small town Shrirampur and gave up a career in engineering to pursue bowling. He was part of the Indian national team from 2000 till 2014. In 2015, Khan announced his retirement from international cricket, saying he was not fit enough to deal with the rigorous schedule of the modern game.

Another cricketer, Shreyas Iyer bought a unit in Lodha World Crest, Mumbai in September 2020. The apartment spread over 2,618 sq ft at the World Towers is located in Lower Parel and was bought for ?11.85 crore, according to registration data accessed by Zapkey.com.

He paid a stamp duty of Rs 24.7 lakh for the deal.

In recent months, Bollywood stars have also registered new apartments taking advantage of the stamp duty cut in Maharashtra. Janhvi Kapoor bought a property worth Rs 39 crore at Juhu in Mumbai, Kapoor, 23, the daughter of the late actor Sridevi and film producer Boney Kapoor, took a home loan of Rs 23 crore from a bank to buy the property, showed the registration and loan documents Moneycontrol reviewed.

The stamp duty cut by the Maharashtra government, low-interest rates, discounts offered by developers and the COVID-19 induced price correction has seen the Mumbai registrar’s coffers swell as homebuyers, including actors, actresses, bankers, brokers, and industrialists made the most of the opportunity and came forward to buy a property.

Properties worth Rs 34,000 crore were sold in Mumbai alone, many of them in the luxury segment, in December 2020.

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