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A flat at Ashford Palazzo in Bhulabhai Desai Road was sold for a whopping Rs 2.09 lakh per square feet making it one of the costliest real estate deals in Mumbai. The flat was purchased by Ranjit Malhotra, who is the vice chairman of Empire Industries.

He paid Rs 45 crore for the 2,512 sq feet flat, which has a carpet area of 1,585 sq ft. Malhotra purchased the flat on Ashford Palazzo's 16th storey, which happens to be the ninth habitable floor.

According to Mumbai Mirror, Malhotra's wife Uma also purchased a flat in the same building the deal for which was inked on the same day as her husband's purchase. The 2,690 sq ft flat with 2,168 sq ft carpet area also cost 45 crores. Additionally, the Malhotras paid Rs 2.25 crore stamp duty over and above the base price. Each flat has four parking lots. Her flat is located on the 15th storey, which is the eighth habitable floor in the building. The deal was registered in August 9.

The property offers an unblocked view of the Arabian Sea.

Ranjit Malhotra and wife Uma both own an apartment in South Mumbai's Tahnee Heights. He is an MBA from the University of Texas while she runs a school for underprivileged children. They are both directors of Empire Industries.

The 19-storeyed Ashford Palazzo has 12 habitable floors. Each floor has one flat. Furthermore, there is a gymnasium, a children's play area, service floor, banquet hall and six levels of parking.