Dream11 Co-Founder Purchases Rs 1.38 Bn Apartment in Malabar Hill

17 Jan 2025 CW Team

Harsh Anand Jain, the CEO and Co-founder of Dream11, a fantasy sports platform, has purchased a luxurious sea-view apartment in the prestigious Malabar Hill area of South Mumbai for over Rs 1.38 billion. This super-premium apartment, which spans a carpet area of 9,546 sq ft, has been valued at Rs 1.45 lakh per sq ft, making it one of the priciest property deals in India based on this rate.

Jain acquired the apartment on the 23rd habitable floor of the ultra-luxurious residential tower Lodha Malabar, located on Walkeshwar Road, from the real estate developer Lodha’s listed company, Macrotech Developers.

According to documents accessed via indexTap.com, the buyer has paid more than Rs 80.30 million in stamp duty for the registration of the transaction, which took place on January 9. As part of the deal, Jain has secured exclusive access to six car parking slots in the tower.

In 2023, the most expensive deal ever in the country was made when the family of industrialist JP Taparia, the founder of contraceptive maker Famy Care, bought a sea-view luxury triplex apartment for over Rs 3.69 billion in the same tower.

Despite email inquiries to Dream11 and Macrotech Developers, no responses were received before publication.

In 2024, residential property sales in the top eight cities surged to an all-time high, driven by strong demand across the mid-income, premium, and luxury segments. Mumbai has continued to lead as the country’s largest and most expensive property market, maintaining a record-setting streak in property deals. South and Central Mumbai, home to the nation’s priciest apartments, have played a significant role in driving this growth, with numerous large-ticket transactions involving industrialists, top corporate executives, actors, and sports figures in recent years.

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