Tony Pali Hill, a micro-market in Mumbai’s Bandra area, is known as the abode of the stars, among the biggest of whom was Dilip Kumar.
His bungalow, a local landmark, stood on a sprawling 2,000 square metre (sq m) land parcel.
Dilip Kumar owned this bungalow for decades, and it is from here that he delivered superhits like Devdas, Naya Daur, and many more.
Dilip Kumar and his wife Saira Banu have been trying to redevelop the property since 2006. Recently, the Thane-based Ashar Group launched the redevelopment of the bungalow, which will include a 10-11 storey luxury building, and a museum dedicated to Dilip Kumar, who died in July 2021.
Below are five key things related to this landmark bungalow.
When was it purchased?
Per development agreement available on the Maharashtra Real Estate Regulatory Authority (MahaRERA) website, Yusuf Khan, aka Dilip Kumar purchased the property from one Abdul Latif in September 1953.
Dilip Kumar moved out of his bungalow soon after marrying Saira Banu in 1966 reportedly, and moved into her house down the road. His two brothers continued living in the house.
Star neighbours
Besides Dilip Kumar, Pali Hill has been home to several Bollywood stars, such as the late Sunil and Nargis Dutt, the late Rishi Kapoor, Neetu Singh, Gulzar, Imran Khan, Aamir Khan, Sanjay Dutt, and more. It was famous for being crowded as many people used to visit to catch a glimpse of their favourite actor back in the day.
When did he plan to redevelop the house?
Per documents on the MahaRERA website, in 2006, Dilip Kumar entered into an agreement with two developers and granted them development rights. However, he terminated the contract in October 2015 owing to disputes.
In March 2016, Dilip Kumar entered into another development agreement with Black Rock, a subsidiary of the Ashar Group, which has now undertaken the construction of a luxury building in place of the bungalow.
What’s the deal?
According to the development agreement signed between Dilip Kumar and Black Rock, the developer decided payment to the owners is in two parts. The first part is a payment of Rs 11 lakh.
The second is a payment of Rs 350 crore as refundable deposit to meet the personal needs and liabilities of Saira Banu towards taxation etc. This amount is to be refunded from the first receipts against the sale of flats she gets in the redeveloped property.
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The developer has announced plans to construct around 15 luxury apartments ranging between 3,200 to 7,000 sq ft in size, priced between Rs 1.3 to 1.5 lakh per sq ft, which is the rate currently prevalent in such buildings in the Pali Hill market.
Bungalow becomes a tower
The redevelopment project, named 'The Legend,' will have a total area of 1.75 lakh sq ft and will comprise 4 and 5-BHK luxury homes, including duplex units. The project is likely to house a 2,000 sq ft museum dedicated to Dilip Kumar, Ajay Ashar Managing Director and Chairman of the Ashar Group, told Moneycontrol on August 1.
He added that the project is aimed at industrialists, CEOs, CXOs, and high net-worth individuals (HNIs).
"The demand for luxury housing in Pali Hill is good and I feel that sales for these homes may be completed in a year or less owing to the demand. The area is home to several noted public figures, including Bollywood stars and HNIs," said Sanjay Sippy, a real estate consultant from Bandra.
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