The late Bollywood actor Dilip Kumar's famous Pali Hill home, which was supposed to be demolished in 2023, is currently the focus of a big real estate deal. Having paid an astounding Rs 172 crore for a lavish triplex apartment inside the new complex, Apco Infratech Private Limited has made headlines.
The Indian Express based on records obtained from Zapkey.com that show the triplex is located on the ninth, tenth, and eleventh floors, with a total area of 9,527 square feet. With a valuation of Rs 155 crore, this opulent property is priced at an astounding Rs 1.62 lakh per square foot, making it one of the most expensive in the Pali Hill neighborhood. In addition, a registration fee of Rs 30,000 and stamp duty of Rs 9.3 crore were paid for the transaction.
Leading the new development, appropriately called "The Legend," is the Ashar Group. In addition to offering luxurious 4 and 5 BHK residences, it will have a 2,000 square foot museum honoring Dilip Kumar's memories. A 2016 deal between Dilip Kumar and the Ashar Group cleared the door for the construction of a high-end residential complex, which is what led to this renovation project.
There have been several legal challenges over the property. The bungalow was previously involved in a lawsuit alleging that a real estate company had faked documents. Saira Bano, the spouse of Dilip Kumar, did, however, affirm in 2017 that the family had reclaimed ownership of the home and that these problems had been fixed.
The building's developers declared in 2023 that they would be constructing 15 opulent apartments. With a projected completion date of 2027 and the potential to earn revenue of Rs 900 crore, the project is likely to have a substantial economic impact on the region.
In addition to transforming a historically significant location, this renovation pays enduring honor to Dilip Kumar's heritage by fusing modern luxury with a nod to Bollywood past.
FAQs
How much does the triplex apartment cost per square foot?
- The triplex flat costs Rs 1.62 lakh per square foot.
Who is in charge of the renovation project?
- The "The Legend" renovation project is overseen by the Ashar Group.
What distinguishing quality does the new development have?
One feature of the new construction is a 2,000 square foot museum devoted to Dilip Kumar.
When is the anticipated completion date of the project?
- By 2027, the project should be finished.
What kind of revenue is anticipated from the project?
- The project has the potential to bring around Rs 900 crore in revenue.
