Ashar Group sells triplex unit in Pali Hill for Rs 172 cr at Rs 1.81 lakh per sq ft

The sellers realised a per-square foot rate of Rs 1.81 lakh

Real estate developer Ashar Group announced that it has sold a 9,527 sq ft "triplex" unit at its upcoming development The Legend by Ashar in Pali Hill, Bandra, to the infrastructure developer Apco Infratech for a total sum of Rs 172 crore. The project is a redevelopment of the late actor Dilip Kumar's residence.

In a statement, Ashar said it has realised a per square foot rate of Rs 1,81,000 for the transaction, terming it as a "benchmark" in Mumbai's real estate market.

The buyers paid a stamp duty of Rs 9.30 crore on the transaction, which was registered on July 23, according to the group. The property is spread across the top three floors of the 11-storey building.

The project, which has been registered with the Maharashtra Real Estate Regulatory Authority, or MahaRERA, is scheduled to hand over possession of the apartments by the end of 2027.

Pali Hill has been the scene of several large deals and redevelopment projects, with the cricketer-actor couple KL Rahul and Athiya Shetty purchasing a Rs 20 crore-apartment earlier this month.