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

31 Mar 2023 CW Team

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

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