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Engineering and construction major Apco Infratech Pvt Ltd has entered into a deal to purchase a triplex apartment spread across 9,527 sq ft from the developer Ashar Group at its under-construction ‘The Legend by Ashar’ project in Pali Hill, Bandra for Rs 172 Crore. The project is coming up after transforming the residence of Bollywood legend, Late Dilip Kumar.
The deal was cracked at a value of Rs 1.81 Lakh per sq ft, creating a new benchmark in Mumbai Metropolitan Region (MMR) as one of the costliest real estate deals. The sea-view triplex apartment is located along 9th, 10th and 11th floors of the 11-storey residential building. Apco Infratech paid a stamp duty of Rs 9.30 Crore for the deal that was registered on July 23, 2024.
The proposed project will have a total construction area of 1.75 lakh sq ft spread across 11 floors. It will also have a museum on the ground floor with a separate access. Late actor’s wife Saira Banu will decide what she wants to display at the museum. The development of the late thespian’s residence into a modern marvel respects the grandeur of its past while incorporating state-of-the-art amenities and European Art Deco architectural design.
“Launched on August 2, 2023, we have completed the project till 9th floor. We plan to finish the project two years before the scheduled completion in 2027 as per RERA registration. We expect the proposed project to generate revenue of Rs 900 Crore,” Director of Ashar Group, Ayushi Ashar said.
Started by Anil Kumar Singh in 1992, Apco is one of the fastest growing Indian mid-sized infrastructure conglomerates with net worth of more than Rs 1,451 Crore and an annual turnover of Rs 5,454 Crore.
The project offers three luxurious residential options: The Estate, featuring expansive residences spread across 3,200 sq ft. with the widest span of windows and columnless floorplates; The Duets, vertical villas with double-height living areas that epitomize 3,400 sq ft. of sheer opulence; and The Bungalows, the most enviable living spaces in Pali Hill with access to private gardens spanning across 3,700 sq ft. 'The Legend by Ashar' is Ashar Group’s second luxury project in Pali Hill, following ‘Navroze by Ashar.’
