Dilip Kumar's Pali Hill Bungalow Redeveloped: Luxurious Triplex Sells for Rs 172 Crore

Late actor Dilip Kumar’s Pali Hill bungalow, a significant landmark in Mumbai, has recently undergone a transformation. The luxurious housing complex that replaced the iconic bungalow has made headlines with the sale of a sea-view triplex apartment for an astounding Rs 172 crore. This marks one of the most significant real estate transactions in the area, reflecting the prime location and the legacy associated with Dilip Kumar.

Dilip Kumar, the legendary figure in Indian cinema, had his bungalow located in the upscale Pali Hill area of Mumbai. In 2016, Kumar and his wife, Saira Bano, entered into a development agreement with the Ashar Group to redevelop the property into a luxurious apartment complex. This decision came after a series of legal disputes where the family accused a real estate firm of forging documents in an attempt to seize the property. The conflict ended in 2017 when Saira Bano confirmed they had regained possession of the bungalow.

The redevelopment project, aptly named ‘The Legend,’ promises to be a symbol of luxury and exclusivity. It includes 4 and 5 BHK apartments, designed to cater to the elite. The complex also features a 2000 sq ft museum dedicated to Dilip Kumar, ensuring that his legacy continues to be honored. The construction of the project, announced in 2023, is expected to be completed by 2027. Upon completion, it is projected to generate a revenue of approximately Rs 900 crore, underlining its high-end appeal and the market's trust in the Ashar Group.

The apartment, spanning the 9th, 10th, and 11th floors, boasts a carpet area of 9527 sq ft. The deal was finalized at a rate of Rs 1.62 lakh per sq ft, one of the highest per sq ft rates in the region. The total cost of the apartment was Rs 155 crore, with an additional Rs 9.3 crore paid as stamp duty and Rs 30,000 as the registration fee.

This purchase was made by Apco Infratech Private Limited, a significant player in the infrastructure sector. This sale has significant implications for the Mumbai real estate market, especially in premium localities like Pali Hill. It highlights the market's robust demand for luxury properties and the willingness of buyers to invest in prime real estate, despite the high costs. The high per sq ft rate also sets a new benchmark for luxury apartments in the area, potentially driving up property values in the vicinity.

Beyond the financial aspects, ‘The Legend’ holds cultural and historical importance. Dilip Kumar, who passed away in July 2021, was an iconic figure in Indian cinema. The museum dedicated to him within the complex will serve as a tribute to his illustrious career and contribution to the film industry.

This blend of luxury living and cultural heritage makes ‘The Legend’ a unique project in Mumbai's real estate landscape. The transformation of Dilip Kumar’s Pali Hill bungalow into a luxurious apartment complex is a remarkable development in Mumbai’s real estate market. The project not only offers high-end living spaces but also preserves the legacy of one of India’s most beloved actors, making it a significant landmark in Mumbai. 

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