Rs 172 Cr Triplex Sold in Mumbai: Ashar Group Sets New Benchmark

Mumbai, July 25 (PTI) Realty firm Ashar Group on Thursday said it has sold a triplex apartment at Pali Hill, Bandra in Mumbai for Rs 172 crore to Apco Infratech.

In a statement, Ashar Group said that Apco Infratech Pvt Ltd has bought a sprawling triplex apartment spread across 9,527 sq ft in its luxury housing project 'The Legend by Ashar'.

The deal was cracked at a value of Rs 1.81 lakh per square foot, creating a new benchmark for MMR's real estate market as one of the costliest transactions of 2024, it added.

"The sea-view apartment, spanning an expansive 9527 square feet, was purchased for a final value of Rs 172 crores," Ashar Group said.

Located on the 9,10,11 floors (triplex) of the 11-storey residential building, the apartment's buyer has paid a stamp duty of Rs 9.30 crores. The deal was registered on 23 July.

"This milestone signifies a pivotal moment in transforming the historic residence of Bollywood legend late Dilip Kumar Sahab into a modern residence while preserving its nostalgic charm and historical significance," Ashar Group said.

This project is Ashar Group's second luxury project in Pali Hill, following ‘Navroze by Ashar', which recently recorded one of Mumbai's highest value deals.

"The luxurious development of the late Dilip Kumar Sahab's residence into a modern marvel respects the grandeur of its past while incorporating state-of-the-art amenities and European Art Deco architectural design," the company said.

Ashar Group has already delivered 7.5 million sq.ft. of prime real estate till date and has over 12.5 million sq.ft of real estate under development since inception in 2001.