India's costliest apartment! JP Taparia buys triplex worth Rs 369 cr in Mumbai's Malabar Hill

In yet another big-ticket real estate transaction this year, the family of industrialist JP Taparia, founder of contraceptive maker Famy Care, has purchased a sea-view luxury triplex apartment for over Rs 369 crore in South Mumbai’s Malabar Hill, said a media report.

The luxury apartment on the 26th, 27th and 28th floor of the super-luxury residential tower Lodha Malabar is located on the plush Walkeshwar Road, opposite the governor’s estate, touching both the Arabian Sea and the Hanging Gardens, Economic Times reported.

The report further revealed that the apartment is spread across a total of 27,160 square feet.

Citing people with direct knowledge of the development, the report mentioned that the deal values the triplex with a total area of massive 27,160 sq ft at nearly Rs 1.36 lakh per sq ft, making it one of the country’s most expensive residential transactions on a per sq ft basis as well apart from the total value.

The deal is believed to be the country's most expensive apartment deal ever, surpassing all the earlier benchmarks, including the recent big-ticket transactions by top names such as Madhav Goel and Niraj Bajaj.

Recently, Madhav Goel of Tufropes also purchased a 9,546 sq ft apartment in sea-facing Lodha Malabar project in Malabar Hill for a sum of Rs 121 crore.

The apartment on the 19th floor of the luxury residential project on Walkeshwar Road was purchased from Macrotech Developers Ltd, a listed developer.

A few days back, Bajaj Auto Chairman Niraj Bajaj bought a sea-facing apartment in Mumbai's Malabar Hill for a whopping Rs 252.5 crore.

In February, Welspun Group chairman BK Goenka bought a penthouse in Oberoi Realty’s luxury project Three Sixty West at Worli for Rs 230 crore.

Radhakishan Damani, founder of Avenue Supermarts, which runs DMart, purchased as many as 28 luxury apartments for around Rs 1,238 crore purported as one of India’s largest real estate deals, Moneycontrol reported.