Capital firm director buys Rs 2.63 bn Mumbai apartments
Real Estate

Capital firm director buys Rs 2.63 bn Mumbai apartments

Asha Mukul Agarwal, the director of the capital market investment and trading firm Param Capital, has made a substantial investment in three luxury apartments in the upscale Malabar Hill area of South Mumbai. The apartments, located on the 24th and 25th floors of the Lodha Malabar super-luxury residential tower on Walkeshwar Road, were acquired from Microtech Developers, a listed company of the Lodha Group.

Agarwal's purchases include two apartments on the 25th floor, totalling 9,719 sq ft, acquired for over Rs 1.32 billion, and a single apartment spanning 9,535 sq ft on the 24th floor, purchased for Rs 1.30 billion. These transactions were registered on September 27, with a total stamp duty of nearly Rs 131.5 million paid. Mumbai's property market set a new benchmark in September with stamp duty collections exceeding Rs 11.21 billion.

These apartments also come with exclusive access to ten parking slots within the tower. The under-construction Lodha Malabar project recently witnessed India's most expensive apartment deal when the Taparia family acquired a triplex on the 26th, 27th, and 28th floors for Rs 3.69 billion.

The luxury tower, situated on a 1.08-acre plot opposite the governor's estate, with stunning views of both the Arabian Sea and the Hanging Gardens, is slated for completion by June 2026.

This purchase follows other high-profile real estate investments in Mumbai, including Bajaj Auto chairman Niraj Bajaj's acquisition of a sea-view luxury penthouse for over Rs 2.52 billion in the same under-construction project, and BK Goenka, Welspun Group chairman's purchase of a penthouse in Worli for Rs 2.40 Bn.

Asha Mukul Agarwal, the director of the capital market investment and trading firm Param Capital, has made a substantial investment in three luxury apartments in the upscale Malabar Hill area of South Mumbai. The apartments, located on the 24th and 25th floors of the Lodha Malabar super-luxury residential tower on Walkeshwar Road, were acquired from Microtech Developers, a listed company of the Lodha Group. Agarwal's purchases include two apartments on the 25th floor, totalling 9,719 sq ft, acquired for over Rs 1.32 billion, and a single apartment spanning 9,535 sq ft on the 24th floor, purchased for Rs 1.30 billion. These transactions were registered on September 27, with a total stamp duty of nearly Rs 131.5 million paid. Mumbai's property market set a new benchmark in September with stamp duty collections exceeding Rs 11.21 billion. These apartments also come with exclusive access to ten parking slots within the tower. The under-construction Lodha Malabar project recently witnessed India's most expensive apartment deal when the Taparia family acquired a triplex on the 26th, 27th, and 28th floors for Rs 3.69 billion. The luxury tower, situated on a 1.08-acre plot opposite the governor's estate, with stunning views of both the Arabian Sea and the Hanging Gardens, is slated for completion by June 2026. This purchase follows other high-profile real estate investments in Mumbai, including Bajaj Auto chairman Niraj Bajaj's acquisition of a sea-view luxury penthouse for over Rs 2.52 billion in the same under-construction project, and BK Goenka, Welspun Group chairman's purchase of a penthouse in Worli for Rs 2.40 Bn.

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?