In a record-breaking deal for a home in a residential building an 18,000 sq ft of an under-construction tower in Walkeshwar in South Mumbai has been sold for Rs 252 Crs. This transaction between the industrialist Niraj Bajaj and Macrotech Developers (Lodha Group) is the most expensive in India to date.
The current transaction is for a project in which construction work has just begun. Bajaj, Chairman of Bajaj Auto and Promotor-Director of Bajaj Group has booked the top three floors in the upcoming Lodha Malabar Tower close to Raj Bhavan at Walkeshwar. The cost works out to be Rs 1.4 lakhs per sq ft. It is learnt that the industrialist has made a token payment to book the triplex and the remaining amount will be paid after the building receives an occupation certificate from BMC.
Work on the 31-storey skyscraper project has just only begun with the ground being dug at present. The building is scheduled to be completed by June 2026 , Bajaj’s new pad will be on the 29,30, and 31st floors of the tower along with eight car parks. The deal was registered with Rs 15 crores as stamp duty was paid.
