Two flats in Lodha Malabar sold for ₹270 crore

April 16, 2024 | Indextapadmin

In Mumbai, the largest real estate market in the nation based on valuation, the demand for opulent homes remains unabated.

For ₹270 crore, the chairman and managing director of Wellknown Polyesters, Anil Gupta, bought two homes in the opulent Lodha Malabar complex.

Gupta purchased two apartments with 9,548 square feet of carpet each on the 17th and 18th levels. In addition, he receives 15 parking spaces with the two apartments, according records supplied by IndexTap.com.

Prior to the recent deal, prices in the project were approximately ₹1.2 lakh per square foot, but now they are over ₹1.4 lakh.

Located on the edge of the hill with a view of the Arabian Sea, Macrotech Developers' Lodha Malabar is situated in Mumbai's Malabar Hill, across from the governor's residence. This project consists of just 36 apartments, ranging in size from 3843 to 11,643 square feet. There are options for homes with four and five bedrooms.

The structure comprises 32 stories, including the ground floor. The floors that are livable are the sixth through the thirty-first floors.

June 2026 is when the project is expected to be completed. The project's starting prices are more than ₹45 crore.

A number of units in this property were purchased by businesspeople and industrialists last year.

For ₹369 crore, the JP Taparia family bought three apartments in the skyscraper. A few days later, four apartments were purchased for Rs 217 crore by Kandoi Fabrics and its directors. A director of Maharashtra Hybrid Seeds Co., a biotechnology and seed company, paid $120 million in July for a flat in the building.