+
JP Taparia family buys the most expensive triplex flat in India in SOBO
Real Estate

JP Taparia family buys the most expensive triplex flat in India in SOBO

Family of industrialist JP Taparia, Founder of the contraceptive manufacturer Famy Care, has paid over Rs 3.69 billion for a sea-view luxury triplex apartment in south Mumbai's Malabar Hill from real estate developer Lodha Group. This is India's most expensive apartment deal ever.

The residence is situated on the opulent Walkeshwar Road, across from the governor's estate, and touches both the Arabian Sea and the Hanging Gardens. It is on the 26th, 27th, and 28th floors of the opulent residential tower Lodha Malabar.

Considering both the total value and the price per square foot, the acquisition makes the triplex, which has a mammoth 27,160 sq ft of total space, one of the most expensive residential transactions in the nation.

The transaction outperforms all previous records, including the most recent sale of a penthouse in the same ultra-luxury building. Niraj Bajaj, the chairman of Bajaj Auto, recently spent more than Rs 2.52 billion on a premium penthouse with a sea view in this unfinished building.

Macrotech Developments, a listed company of the Lodha Group, sold the unit to Taparias. The family paid stamp duty alone for the deal's registration on Wednesday night, amounting to Rs 190 million.

Also read:
NBCC inks MoU to help in cons. of 1 lakh housing units
Runwal Group invests Rs 45 billion in commercial real estate

Family of industrialist JP Taparia, Founder of the contraceptive manufacturer Famy Care, has paid over Rs 3.69 billion for a sea-view luxury triplex apartment in south Mumbai's Malabar Hill from real estate developer Lodha Group. This is India's most expensive apartment deal ever. The residence is situated on the opulent Walkeshwar Road, across from the governor's estate, and touches both the Arabian Sea and the Hanging Gardens. It is on the 26th, 27th, and 28th floors of the opulent residential tower Lodha Malabar. Considering both the total value and the price per square foot, the acquisition makes the triplex, which has a mammoth 27,160 sq ft of total space, one of the most expensive residential transactions in the nation. The transaction outperforms all previous records, including the most recent sale of a penthouse in the same ultra-luxury building. Niraj Bajaj, the chairman of Bajaj Auto, recently spent more than Rs 2.52 billion on a premium penthouse with a sea view in this unfinished building. Macrotech Developments, a listed company of the Lodha Group, sold the unit to Taparias. The family paid stamp duty alone for the deal's registration on Wednesday night, amounting to Rs 190 million. Also read: NBCC inks MoU to help in cons. of 1 lakh housing units Runwal Group invests Rs 45 billion in commercial real estate

Next Story
Infrastructure Urban

Naidu Seeks Rs 563 Crore For AP Sports Infrastructure

Andhra Pradesh Chief Minister N Chandrababu Naidu has sought Rs 563 crore from the Centre to boost sports infrastructure in the state, including Rs 538 crore for stadium development and Rs 25 crore to host the Khelo India Martial Arts Games 2025. Naidu made the request during a meeting with Union Youth Services and Sports Minister Mansukh Mandaviya in New Delhi on Wednesday.The CM urged early completion of Khelo India infrastructure projects in Tirupati, Rajahmundry, Kakinada, and Narasaraopeta, and called for an international-standard badminton training centre and a national aquatic sports hu..

Next Story
Infrastructure Transport

Tough Bidding Norms Slow NHAI Road Project Awards

Stringent bidding rules imposed by the Ministry of Road Transport & Highways (MoRTH) have led to a slowdown in project awards by the National Highways Authority of India (NHAI), despite a robust Rs 3.5 trillion pipeline. According to an HDFC Securities report, the shift to more cautious developer models now favours firms with strong balance sheets, as tighter qualification norms limit aggressive bidders.The revised norms mandate additional performance security, targeting the exclusion of players that previously submitted low bids—often 25 to 40 per cent below NHAI cost estimates—raisin..

Next Story
Infrastructure Transport

Mumbai Gets Coastal Nod for Next Promenade Phase

As Mumbai prepares to open two major sections of its expansive seafront promenade this week, the city’s civic authority has secured a key coastal clearance to advance further construction. The Maharashtra Coastal Zone Management Authority (MCZMA) has approved the commencement of work on the segment between Haji Ali and Baroda Palace, with tendering expected soon after project cost assessments.The promenade, stretching 7.5 km in length and 20 metres wide, is being designed as a flagship open space for walkers, joggers, and cyclists. Two critical stretches—2.75 km from Tata Garden to Haji Al..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?