Two flats in Lodha Malabar sold for ₹270 crore

April 15, 2024

The demand for luxury residences continues unabated in Mumbai, the biggest property market in the country in terms of value.

Anil Gupta, chairman and managing director of Wellknown Polyesters, has purchased two apartments in Lodha group’s luxury project, Lodha Malabar for ₹270 crore.

Gupta bought two apartments on the 17th and 18th floors with carpet area of 9,548 square feet each. He also gets 15 parking slots with the two flats, according to documents provided by

The sale was registered last week.

Around a year back prices in the project were at around ₹1.2 lakh a square feet, while the current transaction has taken the rate to over ₹1.4 lakh a square feet.

Macrotech Developers’ Lodha Malabar, coming up in Mumbai’s Malabar Hill opposite the governor’s house, stands on the edge of the hill overlooking the Arabian Sea. There are only 36 units in this project with apartment sizes ranging from 3843 to 11,643 square feet. Configurations are of 4 and 5 bedroom houses.

The building has 32 floors including the ground floor, and the habitable floors are from the 6th to the 31st floor

The project is due for possession in June 2026. Prices in this project start at upwards of ₹45 crore.

Last year this project saw a number of apartments being acquired by industrialists and entrepreneurs.

The JP Taparia family purchased three apartments in the tower for ₹369 crore. A few days later Kandoi Fabrics and its directors took four apartments for Rs 217 crore. In July a director of biotechnology and seed company Maharashtra Hybrid Seeds Co paid $120 million for a flat in the building.

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