Apco Infratech Acquires Luxury Triplex in Pali Hill, Bandra for Rs 1.55 bn

26 Jul 2024 CW Team

Highways and urban infrastructure developer Apco Infratech has acquired a luxury sea-view triplex apartment in a residential project located on a land parcel that previously housed the bungalow of late Bollywood actor Dilip Kumar in Mumbai's Bandra suburb. The property was purchased for Rs 1.55 billion.

The apartment, which spans 9,527 square feet, is valued at Rs 1.62 lakh per square foot, making it one of the most expensive residential transactions in the country. Apco Infratech bought the triplex situated on the top three floors of the upcoming 11-storey residential tower, The Legend, from the project's developer, Ashar Group.

The company has paid a stamp duty of Rs 9.30 crore for the registration of the transaction, which was finalised.

Apco Infratech, which manages a portfolio of 11 design-build-finance-operate-transfer (DBFOT) projects, is also involved in numerous highway projects across India and has a presence in Nepal. The company was recently awarded work on two packages of the Mumbai Coastal Road North Project. The late actor's family had entered into an agreement with real estate developer Ashar Group to develop a luxury residential project on the nearly half-acre land parcel. Scheduled for completion in 2027, the project, with a total construction area of 1.75 lakh square feet, will also feature a museum dedicated to the actor's life and achievements.

Sales of residential properties across the top eight cities reached an all-time high in 2023, driven by strong demand across mid-income, premium, and luxury segments. Mumbai led the market as the country's most significant and costly property market, continuing its record-setting trend, with a notable performance in June.

Real Estate

09 Feb 2026

Town Planners Call for Regional, Transit-Oriented Planning Shift

The 74th National Town and Country Planners Conference concluded with a strong call for a transition towards regional, transit-oriented and technology-enabled planning to address India’s rapidly evolving urban and economic challenges. Experts emphasised the role of metropolitan and city-region planning in enabling high productivity, inclusive growth and long-term resilience, drawing parallels with global city regions such as London, Singapore and Tokyo.Participants noted that metropolitan regions can drive higher productivity growth when supported by robust institutional frameworks and long-..

REC, PFC Boards Clear In-Principle Merger Proposal

The Boards of Directors of REC and Power Finance Corporation have granted in-principle approval to proceed with a proposed merger of the two public sector non-banking financial companies. The decision aligns with the announcement made in the Union Budget 2026–27, aimed at enhancing scale and operational efficiency among public sector NBFCs.In her Budget speech, the Finance Minister outlined the vision for NBFCs under Viksit Bharat, including targets for credit disbursement and technology adoption, and stated that restructuring of PFC and REC would be a first step towards achieving scale and ..

Suraksha Smart City to Deliver 5,868 PMAY Homes in Vasai

Suraksha Smart City is set to begin the phased delivery of 5,868 Economically Weaker Section (EWS) homes in Vasai during calendar year 2026 under the Pradhan Mantri Awas Yojana (PMAY). The handover will be undertaken building-wise across Phase 1, marking one of the largest PMAY-linked township deliveries in the Mumbai Metropolitan Region.The milestone reinforces the developer’s commitment to the Government of India’s ‘Housing for All’ mission and highlights Vasai’s growing role as a residential hub within the Mumbai 4.0 growth framework. The large-scale delivery is expected to contri..