In yet another big-ticket real estate transaction this year, J P Taparia, founder of contarceptive maker Famy Care, has purchased a luxury sea-facing triplex apartment in South Mumbai’s Malabar Hill for Rs 369 crore from Lodha Group.
The apartment is on the 26th, 27th, and 28th floors and is a part of the super-luxury residential tower Lodha Malabar. The tower is located on the plush Walkeshwar Road, opposite the governor's estate.
The deal values the triplex with a total area of massive 27,160 sq ft at nearly Rs 1.36 lakh per sq ft, making it one of the country’s most expensive residential transactions on a per-sq-ft basis as well apart from the total value, ET reported.
It is the latest development in the country’s luxury housing market, which is witnessed a good demand momentum. In February, DMart founder Radhakishan Damani’s family members and associates have bought as many as 28 housing units worth Rs 1,238 crore in Mumbai. It is perhaps the biggest property deal in India.