Apco Infratech Pvt Ltd purchases Triplex Bungalow worth Rs.155 crore in Mumbai

India’s one of the famous infrastructure and real estate firm Apco Infratech Private Limited, has purchased a sea-view triplex apartment worth Rs.155 crore in Bandra's Pali Hill area of Mumbai.

The triplex bungalow is spread across 9,527 sq ft of carpet area and it is located on the 9th, 10th and 11th floors of a project named ‘The Legend’ which was built by Black Rock, a subsidiary of Ashar Group.

The company has declared that, in 2023 it undertook the construction project of a luxury building on the plot that once housed Dilip Kumar's bungalow. 

The project ‘The Legend’ is comprised of 4 and 5-BHK luxury apartments, including duplex units, and will also house a 2,000 sq ft museum dedicated to the Bollywood legend Dilip Kumar.

The selling price of the triplex stood at Rs.1.62 lakh per sq ft, which is one of the highest per sq ft deal in the recent past in the Mumbai real estate market, according to local brokers.

According to the documents accessed by Zapkey.com, the transaction was registered on July 23, 2024. The triplex apartment comes with eight car parking spaces. According to documents, Rs.9.30 crore was paid for stamp duty and Rs.30,000 for registration fees.

Ashar Group confirmed the transaction, stating that although the agreement value remained Rs.155 crore, the sea-view apartment was sold for a total of Rs.172 crore. According to the market sources the total cost of Rs.172 crore encompasses stamp duty and other applicable taxes for purchasing the apartment in an under-construction building.

In March 2016, Dilip Kumar signed a development agreement with Ashar Group for a luxury housing project. The developer announced plans last year to build approximately 15 luxury apartments tailored for industrialists, entrepreneurs, cultural luminaries, Indian cinema icons, global athletes, and Fortune 500 CXOs.

Pali Hill, a prestigious locale known for its celebrity residents, recently gained attention when cricketer KL Rahul and his wife Athiya Suneil Shetty, daughter of Bollywood actor Suniel Shetty, bought a Rs.20 crore apartment there on July 15th.

Apart from once hosting Dilip Kumar's bungalow, Pali Hill has been a residence for numerous Bollywood luminaries including late figures like Sunil and Nargis Dutt, Rishi Kapoor, Neetu Singh, Gulzar, Imran Khan, Aamir Khan, Sanjay Dutt, and others.

Recently, Bollywood actor Aamir Khan expanded his real estate holdings with the acquisition of a luxury property in the upscale Pali Hill area of Mumbai.