The strategically located plot is amongst the last few available on Palm Beach road and hence, was sold for such a high price. Representation pic

Navi Mumbai's posh Palm Beach Road has defied the odds of the sluggish real estate market. Yesterday, the area saw one of the costliest deals being brokered after tenders were opened on Thursday when a land parcel measuring more than 7,000 square meters was sold at approximately Rs 247 crore. The land was sold at Rs 3.33 lakh per square meter.