Highest Capital Appreciation Recorded : Oberoi Exquisite Sets Records in Goregaon East
In a noteworthy real estate development, Oberoi Exquisite in Goregaon East has achieved a milestone by recording the highest property prices in the area, putting it on par with upscale locations like Worli and Lower Parel, including examples like Lodha Park. For instance, a 1083 sq.ft 2 BHK flat in these areas can easily fetch around 5.00 Crores.
Oberoi Exquisite made its debut in October 2009 with a base value on built-up areas ranging from 1820 to 1081 sq.ft carpet and approximately 1300 sq.ft of usable space, featuring 3 bedrooms, a living area, kitchen, 3 bathrooms, and 2 balconies. Notably, the purchase price by Bollywood actor Ranveer Singh, who acquired two units in 2014, would have been considerably higher, estimated at around 8 Crores and the current sale is for 15 Crores. This substantial appreciation in value is attributed to the surge in Oberoi Garden City's property prices during that period.
The launch price in 2009 started at 9500 per square foot (PSF) plus a 1% floor rise, resulting in a rate of Rs.13,585 on the built-up area, equivalent to Rs.22,875 PSF. Fast forward to the present, Ranveer Singh's recent sale was concluded at approximately Rs.57,700 PSF, marking a substantial increase in property value.
The average price for a 3 BHK in Oberoi Exquisite currently ranges from 6.35 Crores on lower floors to 7.00 Crores on higher floors, depending on factors such as the flat's condition and location within the complex. The dynamics at play in Oberoi Garden City reflect a classic supply and demand scenario, with the upcoming Oberoi Elysian Tower A and B, featuring a large inventory scheduled for 2026-2027, contributing to a shortage of high-quality, ready-to-move-in options.
Ranveer Singh's sale of Jodi flats, complete with favorable Vastu and scenic views within the complex, coupled with an impressive six parking slots, is deemed a lucrative deal for both the actor and the fortunate new buyer, particularly one already familiar with the merits of residing in Oberoi Exquisite.
It must be noted that all Oberoi Realty projects have shown a constant capital appreciation across the Western Suburbs and projects like Oberoi Woods, Oberoi Springs and Oberoi Splendor are nearly 4 times there launch prices. Oberoi has now launched Oberoi Forestville in Thane and will be coming up with Elysian C wing and the possession of Oberoi Skycity.