Agarwal Holding brothers acquire Juhu land for Rs 1.01 billion

01 Mar 2024 CW Team

Macleods Pharma promoters Girdharilal Bawri, Banwarilal Bawri and Rajendra Agarwal, together acquire one-sixth of an acre of land in the plush Juhu area of Mumbai for Rs 1.01 billion.

Agarwal Holdings has lately dotted with residences of high-profile entities, such as Bollywood personalities and industrialists.

Juhu is a Mumbai area known for housing Bollywood actors and corporates. Recently, Vicky Kaushal, Katrina Kaif, Virat Kohli, and Anushka Sharma shifted to Juhu. The demand for land parcels in key property markets of Mumbai, Pune, Chennai, Hyderabad, and Bangalore has increased, driven by the sustained recovery in the housing market.

This is the third joint purchase by the brothers. They also have a 999-year land lease, which started in 1962, where they built a bungalow over 3,604 sq ft with a 1,084 sq ft terrace. Since December 2020, Agarwal Holdings brothers have acquired three properties worth over Rs 51.8 billion in Juhu.

The accessed documents showed that the buyers paid Rs 60.6 million solely for the stamp duty during the registration of the deal on 20 February 2024.

Macleods Pharmaceuticals develops, manufactures, and markets formulations in therapeutic areas, including anti-infectives, cardiovascular, anti-diabetic, dermatology, and hormone treatment. It has eight manufacturing units in India and a presence in over ten countries. Founded in 1986 by three brothers, it's among the richest families in the country.

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