In one of the most expensive residential property deals in the country, Asha Mukul Agrawal has bought three ultra luxurious apartments in Lodha Malabar — a sea facing residential project of Lodha group in Malabar Hill area of Mumbai for a total of Rs 262 crore. Asha Mukul Agrawal is the wife of stock market investor Mukul Agrawal.
At Rs 1.36 lakh/square foot, this was the most expensive in terms of per sq ft price paid when the purchase was made. The property has been brought from the Lodha group’s listed entity MacrotechDevelopers.
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Agrawal bought an apartment on the twenty fourth floor of the building for Rs 130 crore which is spread over an area of 9,535 sq ft. In addition, another two apartments worth Rs 132 crore were bought on the twenty fifth floor of the building. Both flats have a total area of 9,719 sq ft, according to documents accessed through Indextap.com, a real estate advisory firm.
She has paid a total stamp duty of Rs 13.1 crore for the properties bought, documents showed. She got a total 10 car parking as part of the purchase.
When contacted , Lodha group did not comment on the matter. Asha Mukul Agrawal could not be contacted for comments.
Over the years, Mukul Agrawal, the reclusive founder of Param Capital Group has built stakes in around 200 listed and unlisted companies, according to reports.
Presently under construction, Lodha Malabar’s expected possession date is June 2026. The project has 36 apartments in A and B wings, comprising mostly of 4 BHK apartments measuring 3,800 sq. ft each and ten 5BHK duplex apartments of 6,640 sq ft and 7,995 sq ft configurations.
Many industrialists have bought in the same project in recent months. These include, Jyoti Prasad Taparia and Anjali Ashutosh Taparia, founders of contraceptive maker Famy Care,bought a sprawling apartment of 27,160.6 sq ft for Rs 369.55 crore in the same Lodha Malabar project early this year at a similar Rs 1.36 lakh/sq ft.
Earlier Niraj Bajaj, chairman of Bajaj Auto bought a penthouse in the same project for Rs 252 crore. The owners of Maharashtra Hybrid Seeds Company (Mahyco) has bought a sea-view apartment in south Mumbai’s Malabar Hill. The cost of the 9,546 sq ft house is around Rs 122 crore.
In February, Welspun Group chairman BK Goenka bought a penthouse in Oberoi Realty’s Three Sixty West in Worli for Rs 240 crore in one of the most expensive residential transactions then. After this, Oberoi Realty had paidRs 230.55 crore for another penthouse in the same project.
Billionaire Radhakishan Damani’s family and his associates also bought 28 apartments for Rs 1,238 crore in the same project .
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