Tufropes' director purchases South Mumbai condo for Rs 121 crore
Real Estate

Tufropes' director purchases South Mumbai condo for Rs 121 crore

This second significant transaction was disclosed in the Lodha Group's Lodha Malabar project. On March 10, Niraj Bajaj, the chairman of Bajaj Auto, paid Rs 2.52 billion for a triplex apartment measuring more than 18,008 square feet on the project's top three levels, breaking the previous record for the priciest penthouse in the city.

Madhav Goel, director of Tufropes, a top supplier of synthetic fiber rope and netting solutions, has paid Rs 1.21 billion for a 9,546 square foot apartment in the sea-facing Lodha Malabar complex in Malabar Hill. This is yet another high-profile purchase this year.

The apartment was purchased from Macrotech Development Ltd, a listed developer, and will have six parking spaces. It is located on the 19th floor of the opulent residential development on Walkeshwar Road.

According to paperwork, the transaction was registered on March 23 and the buyer paid a stamp duty of 7.26 crore. The purchase brought in $1,26,754 per square foot.

Goel, the director of Tufropes, which prides itself on being a world leader in the production of synthetic fiber rope and nets used in industries such as shipping, fishing and aquaculture, agriculture, horticulture, and sports. He lives in the Sterling Apartments on Peddar Road and holds directorships in Polysil Drip Irrigation and Elixir Industries Private Ltd. in addition to being a designated partner in SMG Designs LLP, Fibretech LLP, and Resin Agency LLP.

The expected possession date of Lodha Malabar, which is now under construction, is June 2026. The project's 36 units are split between the A and B wings and range in size from 3,800 square feet for 4 BHK apartments to 6,640 square feet and 7,995 square feet for 5 BHK duplex homes.

As high-net-worth individuals (HNIs) attempt to reinvest in luxury properties, additional high-value transactions of Rs 200 million and above ticket size are likely to be filed in the luxury segment over the course of the next six days. The government has declared that the exemption from long-term capital taxes for purchasing residential units will be capped at Rs. 100 million as of April 1.

See also:
Feat Properties buys luxury bungalow in Mumbai at Rs 182.75 cr
40% home buyers seek luxury and premium properties: ANAROCK, CII


This second significant transaction was disclosed in the Lodha Group's Lodha Malabar project. On March 10, Niraj Bajaj, the chairman of Bajaj Auto, paid Rs 2.52 billion for a triplex apartment measuring more than 18,008 square feet on the project's top three levels, breaking the previous record for the priciest penthouse in the city. Madhav Goel, director of Tufropes, a top supplier of synthetic fiber rope and netting solutions, has paid Rs 1.21 billion for a 9,546 square foot apartment in the sea-facing Lodha Malabar complex in Malabar Hill. This is yet another high-profile purchase this year. The apartment was purchased from Macrotech Development Ltd, a listed developer, and will have six parking spaces. It is located on the 19th floor of the opulent residential development on Walkeshwar Road. According to paperwork, the transaction was registered on March 23 and the buyer paid a stamp duty of 7.26 crore. The purchase brought in $1,26,754 per square foot. Goel, the director of Tufropes, which prides itself on being a world leader in the production of synthetic fiber rope and nets used in industries such as shipping, fishing and aquaculture, agriculture, horticulture, and sports. He lives in the Sterling Apartments on Peddar Road and holds directorships in Polysil Drip Irrigation and Elixir Industries Private Ltd. in addition to being a designated partner in SMG Designs LLP, Fibretech LLP, and Resin Agency LLP. The expected possession date of Lodha Malabar, which is now under construction, is June 2026. The project's 36 units are split between the A and B wings and range in size from 3,800 square feet for 4 BHK apartments to 6,640 square feet and 7,995 square feet for 5 BHK duplex homes. As high-net-worth individuals (HNIs) attempt to reinvest in luxury properties, additional high-value transactions of Rs 200 million and above ticket size are likely to be filed in the luxury segment over the course of the next six days. The government has declared that the exemption from long-term capital taxes for purchasing residential units will be capped at Rs. 100 million as of April 1. See also: Feat Properties buys luxury bungalow in Mumbai at Rs 182.75 cr 40% home buyers seek luxury and premium properties: ANAROCK, CII

Next Story
Infrastructure Urban

Coal Ministry Achieves Milestones under Special Campaign 5.0

The Ministry of Coal and its Public Sector Undertakings (PSUs) have achieved notable milestones under the Special Campaign 5.0, focusing on cleanliness, operational efficiency, and sustainability across the coal sector. During the implementation phase from 2–31 October 2025, over 1,205 sites were cleaned, covering 68,04,087 sq ft, nearing the target of 82,51,511 sq ft. Scrap disposal of 5,813 MT against a target of 8,678 MT generated Rs 228.7 million in revenue. In addition, 1,11,248 physical and 30,331 electronic files were reviewed, with 74,123 weeded out or closed. Key initiatives showc..

Next Story
Infrastructure Energy

Vesting Orders Issued for Three Coal Blocks under Commercial Auctions

The Ministry of Coal’s Nominated Authority has issued vesting orders for three coal blocks under commercial coal block auctions on 23 October 2025. The Coal Mine Development and Production Agreements (CMDPAs) for these mines were earlier signed on 21 August 2025. The three blocks include Rajgamar Dipside (Deavnara), Tangardihi North, and Mahuagarhi. Of these, two are partially explored while one is fully explored, with a combined peak rated capacity of around 1 MTPA and geological reserves of approximately 1,484.41 million tonnes. These mines are expected to generate annual revenue of abou..

Next Story
Infrastructure Urban

TEC, IIT-Hyderabad Partner to Boost 6G and Telecom Standards

The Telecommunication Engineering Centre (TEC), technical arm of the Department of Telecommunications (DoT), has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology Hyderabad (IIT Hyderabad) for joint research and technical collaboration in advanced telecom technologies and standardisation. The partnership focuses on developing India-specific standards and test frameworks for next-generation networks, including 6G, Artificial Intelligence (AI), and Non-Terrestrial Networks (NTNs). It also aims to enhance India’s participation in international standardisation f..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?