Lodha One's 'Emperor Palace' Penthouse Sold for ₹37 Crore: One Of The Most Expensive Luxury Property Deal in Pune

Leading real estate developer Lodha has recently sold a penthouse called ‘Emperor Palace’ for a whopping ₹37 crore, marking one of the most expensive property deals in Pune's luxury apartment segment. The property, located in Lodha One, a project, which has been designed to cater to the growing demand for high-end residences in the city.

Over the past two years, Pune has seen 32 apartment registrations in the luxury segment, each valued above ₹10 crore. Previously, the highest recorded transaction in this category was ₹18.5 crore. With its registration on the Real Estate Regulatory Authority (RERA), the Lodha One penthouse has now surpassed all previous records, boasting a per-square-foot price of ₹28,000 to ₹29,000.

Lodha One Bund Garden is the developer's inaugural luxury project in Pune, specifically designed to cater to the growing demand for high-end residences amid a scarcity of prime land in the city. The penthouses in this project are aptly named Emperor Palace and are spread across three levels, featuring private terraces and pools. Additionally, residents benefit from exclusive services provided by Lodha’s private hospitality wing, Saint Amand, which attends to all hospitality needs. The project, designed by the Singapore-based firm Sitetectonix, aligns with Lodha’s luxury-oriented philosophy.

Lodha One Bund Garden stands out as the tallest tower in Pune's Camp area. The project is uniquely landscaped around two majestic Banyan trees, which have been preserved for over 150 years, adding a touch of heritage to the modern development.

The Pune real estate market, on average, sees property registrations ranging from 14,000 to 20,000 units district-wide, according to data from Knight Frank India, a real estate consultancy firm. Most property registrations fall within the ₹50 lakh to ₹1 crore bracket. For instance, in March 2024, out of over 21,000 property registrations, 33% were priced between ₹50 lakh and ₹1 crore, 32% between ₹25 lakh and ₹50 lakh, and 14% between ₹1 crore and ₹5 crore. Less than 1% of registrations exceeded ₹5 crore.

This sale is indicative of the rising trend in Pune's luxury real estate market. The city has seen significant growth in the high-end property segment, with developers responding to the increasing demand for premium housing options. The sale of the penthouse in Lodha One not only highlights the city’s potential as a lucrative real estate market but also underscores the evolving preferences of affluent buyers seeking exclusive and luxurious living spaces.