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

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

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.

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.

Next Story
Infrastructure Transport

Heavy Rains Delay Opening of Kusmalli Bridge

The long awaited opening of Kusmalli Bridge on the Belagavi–Goa Road via Chorla has been pushed back by several days because backfilling on the Jamboti side remains unfinished. Continuous downpours across the Jamboti–Kankumbi stretch have made it impossible to place the granular sub base (GSB) material required to complete the approach ramp.National Highways Executive Engineer Rajendra and a team of officials inspected the site on Wednesday. He confirmed that the bridge structure itself is finished, but the protective walls and ramp backfill still need attention. “If the rain eases, we..

Next Story
Infrastructure Transport

New Flyover to Shadow Metro Line 5, Extension to Ambernath

Maharashtra Chief Minister Devendra Fadnavis has announced a flyover that will run alongside the underground Thane–Bhiwandi–Kalyan Metro Line 5, aiming to relieve persistent congestion on this busy corridor. The new structure will be delivered in tandem with an east–west road widening programme, ensuring road capacity keeps pace with the railway upgrade.At the same time, Metro Line 5 is to be extended beyond Kalyan to serve Ulhasnagar and Chikhloli near Ambernath, giving the district’s rapidly expanding communities a faster, more reliable public transport link. Officials sa..

Next Story
Infrastructure Energy

Reliance Power Lines Up 1.5 GW Overseas Gas Plant, Bhutan JV

Reliance Power Ltd is pursuing a 1 500 MW gas fuelled power project abroad and has already entered several international tenders in Kuwait, the United Arab Emirates and Malaysia, where demand for gas based generation is strong.The company has two ready to deploy 750 MW General Electric combined cycle modules, enabling delivery in far less time than the three to five year lead typically required for new equipment. A third module was earlier exported to Bangladesh for an LNG plant built with Japan’s JERA.Reliance Power has begun global EPC tendering in line with competitive bidding..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?