Dilip Kumar's luxurious apartment sells for staggering price of Rs. 172 crore in redevelopment project: Report

The Pali Hill residence of the late Bollywood actor Dilip Kumar has found a new chapter. The sea-facing bungalow, earmarked for redevelopment in 2023, has recently witnessed a significant development with the sale of a triplex apartment for a whopping Rs. 172 crore.

As per several reports, Apco Infratech Private Limited has secured this palatial triplex spread across the 9th, 10th, and 11th floors of the under-construction building. With a carpet area of 9,527 sq ft, the apartment itself is valued at Rs. 155 crore, translating to a staggering Rs. 1.62 lakh per sq ft – one of the highest per sq ft deals ever recorded in the Pali Hill area. The final price of Rs. 172 crore includes a stamp duty of Rs. 9.3 crore and a registration fee of Rs. 30,000.

This redevelopment project, The Legend by Ashar Group, will house a total of 15 luxurious apartments, a mix of 4 and 5 BHK configurations. However, The Legend will be a dedicated 2,000 sq ft museum celebrating the life and achievements of Dilip Kumar.

The collaboration between Dilip Kumar and Ashar Group dates back to 2016 when a development agreement paved the way for this ambitious project. In 2023, the developer announced plans for 15 luxury apartments and a projected completion date of 2027. With the recent sale of the triplex, estimates suggest the entire project could generate a staggering revenue of Rs. 900 crore. ALSO READ: Saira Banu shares hilarious anecdote from sets of Purab Aur Paschim on Manoj Kumars 87th birthday: When the shot started...