This is the most expensive apartment deal in India, sold for Rs 3690000000, it is located in…, buyer name is…, Not Mukesh Ambani, Adani, Narayana Murthy or Azim Premji

A new record has been set in India’s residential real estate market. In Mumbai, an apartment has been sold for Rs. 369 crore, making it the most expensive apartment deal ever in the country. The luxurious triplex apartment, located in the upscale Malabar Hill area of South Mumbai, was bought by the family of JP Taparia — founder of Famy Care, a company known for manufacturing contraceptives. According to reports, the Taparia family purchased the apartment from real estate developer Lodha Group. The apartment is spread across the 26th, 27th, and 28th floors of the under-construction luxury tower ‘Lodha Malabar,’ which stands opposite the Governor’s Estate on Walkeshwar Road. The location offers a view of the Arabian Sea on one side and the Hanging Gardens on the other.

The total area of the apartment is around 27,160 square feet. The deal was sealed at a rate of Rs. 1.36 lakh per square foot, making it the costliest residential deal in the country on a per square foot basis. Recently, Bajaj Auto Chairman Niraj Bajaj had also bought a penthouse in the same building for Rs. 252.50 crore.

The apartment was bought from Macrotech Developers, the listed company of Lodha Group. The registration was completed on Wednesday evening, and the Taparia family paid Rs. 19.07 crore in stamp duty. Lodha Malabar is being built on 1.08 acres of land and is expected to be ready by June 2026.

India’s most expensive property deals

Earlier in February, BK Goenka, Chairman of the Welspun Group, made headlines after purchasing a penthouse in Mumbai’s Worli area for Rs. 240 crore — the most expensive residential deal at the time. However, that record was soon broken by Bajaj Auto’s Niraj Bajaj, who bought a penthouse in South Mumbai’s Lodha Malabar for Rs. 252.5 crore.

Now, the Taparia family has topped them all with a Rs. 369 crore purchase in the same project, setting a new national record for the most expensive residential real estate deal in India.

Just last week, Madhav Arun Goel, Director of synthetic fibre rope maker Tufropes, also bought a super-luxury apartment in Lodha Malabar for Rs. 121 crore, adding to the demand frenzy in this prime location. Malabar Hill and Walkeshwar Road remain among the country’s most elite and costly neighbourhoods, with consistent interest from ultra-high-net-worth buyers.

In the business world, the Taparia family has also been making major moves. In November, their eye care firm, Famy Life Sciences, was sold to Viatris Inc (formerly Mylan Labs) in a Rs. 2,460 crore deal. The family retained the non-ophthalmic division of the Famy Care Group, which they had earlier partly sold in 2015 when their women’s healthcare business was acquired by Mylan for Rs. 5,000 crore.

The Taparias also have private equity investments in companies such as Anantha Capital, Springwel, and Guardian Pharmacy.

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