Discover how EaseMyTrip’s Rikant Pittie secures a strategic INR 99.34 crore property in Gurugram, contributing to the city’s burgeoning real estate landscape.
Prime Location and Substantial Dimensions
In a notable real estate move, Rikant Pittie, co-founder of EaseMyTrip, has invested INR 99.34 crores in a commercial property situated in Gurugram’s Sector 32. The property spans 43,594 square feet, strategically located near the esteemed Rajiv Chowk area, boasting a total built-up area of approximately 1,00,429 square feet.
Stamp Duty Transaction Details
Rikant Pittie concluded the deal on November 24, accompanying the purchase with a stamp duty payment of INR 6.95 crores. These details were disclosed by CRE Matrix, a prominent real estate data analytics firm, shedding light on the financial intricacies of the transaction.
Market Dynamics and Previous High-Value Deals
Gurugram has witnessed a commendable 13% surge in housing sales, as per Anarock data focusing on the Delhi-NCR market. The upbeat consumer sentiment and ongoing infrastructure developments are attributed to this upswing. Pittie’s acquisition aligns with a series of significant real estate transactions, including the much-publicized INR 100-crore deal for a 10,000 square feet apartment at The Camellias by DLF on Golf Course Road in Millennium City.
The Camellias: A Benchmark in Property Valuation
The Camellias, introduced less than a decade ago at a rate of INR 22,500 per square foot, currently commands an impressive selling price exceeding INR 85,000 per square foot. This reinforces the robust valuation trends in Gurugram’s real estate landscape.
Company Overview and Recent Platform Decision
Founded in 2008, EaseMyTrip operates across major Indian cities, with international subsidiaries in the Philippines, Singapore, Thailand, the UAE, the UK, the USA, and New Zealand. Recently under the spotlight for suspending Maldives bookings on the platform, Pittie expressed solidarity with India amid the India-Maldives diplomatic row.
Conclusion: Strategic Investment in Flourishing Real Estate
Rikant Pittie’s recent property acquisition echoes strategic investment in Gurugram’s thriving real estate market. The high-value deal adds to the city’s allure as a prime destination for substantial real estate transactions.
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