(Commonwealth)_ Macrotech Developers, renowned for its Lodha brand, recently made headlines with the sale of two luxurious apartments in its prestigious project, Lodha Malabar, located on Walkeshwar Road in Malabar Hill, one of Mumbai’s most upscale neighborhoods. Documents accessed by IndexTap revealed that the buyer, Anil Gupta, the chairman and managing director of Wellknown Polyesters Ltd, acquired these opulent residences for a staggering ₹270 crore.
The transaction, which took place on April 12, 2024, saw Gupta paying an agreement value of ₹135.21 crore for the first apartment, along with a stamp duty of ₹8.11 crore. This residence boasts a spacious usable carpet area of 9,548 square feet and includes an impressive seven parking spaces. Similarly, the second apartment, purchased for ₹134.78 crore, also features a sizable usable carpet area of 9,548 square feet and comes with eight parking spaces, with a stamp duty payment of ₹8.08 crore.
Macrotech Developers’ success in securing such high-value transactions underscores the allure of Lodha Malabar, positioned to provide its affluent residents with unparalleled luxury and breathtaking views of the Arabian Sea and the Queen’s Necklace. Designed by renowned architect Hafeez Contractor, the project comprises 31 floors and promises a lifestyle of opulence and sophistication.
Notably, this isn’t the first time Macrotech Developers has made waves in the luxury real estate market. Last year, the company sold two apartments worth ₹109 crore to the directors of Kandoi Fabrics Pvt Ltd. Additionally, the promoters of Kandoi Fabrics Pvt Ltd had acquired four sea-facing luxury properties within the same project for ₹217 crore in March 2023.
Other prominent figures have also been drawn to the allure of Lodha Malabar. In March 2023, Niraj Bajaj, chairman of Bajaj Auto, acquired a sea-facing triplex apartment in Malabar Hill for ₹252.5 crore. Around the same time, family members of industrialist JP Taparia, founder of Famy Care, a leading contraceptive manufacturer, purchased six sea-facing properties within the development for approximately ₹369 crore. Similarly, Madhav Goel, director of Tufropes, a prominent manufacturer of synthetic fiber rope and netting solutions, invested ₹121 crore in a 9,546 square feet apartment in Lodha Malabar.
The allure of Lodha Malabar extends far beyond its luxurious residences; it epitomizes a lifestyle of exclusivity and refinement that captivates discerning individuals seeking the pinnacle of urban living. At the heart of this allure lies an array of amenities meticulously designed to cater to the sophisticated tastes of its elite residents.
Central to the appeal of Lodha Malabar is Club Saint Amand, an exclusive private members’ club that stands as a beacon of sophistication within the development. Here, residents have access to unparalleled hospitality services, from world-class dining experiences to bespoke concierge assistance, elevating their lifestyle to new heights of luxury and comfort.
Furthermore, the project boasts five floors of podium parking, providing residents with the convenience and security of ample parking space within the confines of the development. This feature not only enhances the practicality of daily life but also reflects the meticulous attention to detail that defines every aspect of Lodha Malabar’s design and planning. The success of Macrotech Developers in securing high-value transactions within the confines of Lodha Malabar serves as a testament to the enduring demand for luxury real estate in Mumbai’s most coveted locations. As one of the city’s premier residential developments, Lodha Malabar sets the standard for opulent living, drawing discerning individuals who seek not just a place to reside but an embodiment of status, prestige, and sophistication.
