Mumbai is fast becoming the hub for ultra-luxurious residential properties. A businessman in the city has bought an apartment worth Rs 369 crore. This is the country's most expensive apartment deal. The flat is a triplex apartment situated in south Mumbai's Malabar Hills area. The flat has been bought by JP Taparia.
JP Taparia is the founder of Famy Care, a company that manufactures female contraceptive devices. He has bought the flat from Lodha Group. The flat is located on the 26th, 27th and 28th storeys of under construction Lodha Malabar. This tower is situated at the Governor's Estate at Walkeshwar Road. It overlooks the Arabian Sea.
The total area of the apartment is 27,160 square foot. The deal price is 1.36 lakh per square foot. Before this, Bajaj Auto's chairman Neeraj Bajaj had bought a penthouse for Rs 252.50 crore. The Taparia family has paid a stamp duty of Rs 19.07 crore. The tower is spread across 1.08 acres. It will be fully constructed in June 2026.
Malabar Hills is one of the most expensive areas in the country. In November last year, Viatris Inc bought their eyecare business for Rs 2460 crore. In the year 2015, they had sold their women's healthcare business for Rs 4600 crore to Mylan.
This means that the company had sold their businesses in total for over Rs 7,000 crore.
The family has stakes in Anantha Capital, Springwel and Guardian Pharmacy.
A few years ago, he bought a flat for Rs 60 crore in Bandra-Kurla Complex.
The family is one of India's highest tax paying nations.