Dilip Kumar Sea View Property Sold for Rs 172 Crore

Late actor Dilip Kumar’s iconic Pali Hill house has embarked on a new chapter of rejuvenation and transformation. Previously marked for demolition, the property has been redeveloped into a luxurious housing complex, capturing the attention of real estate enthusiasts and fans alike.

Also Read:- Kushal Tandon Buys a 2002 sq. ft Property in Alibaug for Rs. 2 crore

A recent report highlighted a significant transaction within this newly developed complex. An entity has acquired a triplex apartment with a breathtaking sea view for an impressive Rs 172 crore. This purchase underscores the high value and desirability of the property. According to property registration documents obtained by Zapkey.com, this opulent apartment spans the 9th, 10th, and 11th floors of the building, boasting a generous carpet area of 9,527 square feet. Valued at Rs 155 crore, the triplex was sold at Rs 1.62 lakh per square foot to Apco Infratech Private Limited, making it one of the most expensive per-square-foot deals in the locality. The transaction incurred a stamp duty of Rs 9.3 crore and a registration fee of Rs 30,000.

The redevelopment project, aptly named ‘The Legend,’ is spearheaded by the esteemed Ashar Group. This ambitious project features luxurious 4 and 5 BHK apartments, catering to the elite clientele. A notable addition to the complex is a 2,000-square-foot museum dedicated to the illustrious career and life of Dilip Kumar, allowing admirers to connect with his legacy on a deeper level.

In 2016, Dilip Kumar entered into a development agreement with the Ashar Group, setting the stage for the transformation of his beloved bungalow. By 2023, the developers announced plans to construct 15 high-end apartments, with project completion anticipated by 2027. The potential revenue from this development is projected to reach Rs 900 crore, reflecting the high market demand and the property’s prestigious status.

Also Read:- KL Rahul and Athiya Shetty New 20 Crore Love Nest in Mumbai Pali Hill

The journey of Dilip Kumar’s Pali Hill bungalow has not been without challenges. The property was embroiled in legal disputes, with the actor’s family alleging that a real estate firm had forged documents to seize the property. In a significant victory, Dilip Kumar’s wife, Saira Banu, announced in 2017 that they had successfully regained possession of the bungalow, resolving the contentious issue.

Dilip Kumar, a legendary figure in Indian cinema, passed away in 2021. His legacy continues to thrive, both through his cinematic contributions and through the enduring transformation of his Pali Hill home. He is survived by his devoted wife, Saira Banu, who has been a steadfast guardian of his legacy and their shared memories.

Pali Hill, a prestigious enclave in Mumbai, is not only home to the legendary Dilip Kumar’s redeveloped property but also houses several other Bollywood luminaries. The area boasts the residences of iconic stars such as Aamir Khan, whose understated elegance is reflected in his tastefully designed home. Veteran actor Sanjay Dutt, known for his larger-than-life persona, also resides here, adding to the neighborhood’s star-studded appeal. Additionally, the charismatic Rishi Kapoor’s family home is a beloved landmark in the area, symbolizing the rich heritage and continuous influence of Bollywood in Pali Hill. This enclave remains a coveted address, blending glamour with a sense of enduring legacy.

Also Read:- Kriti Sanon Acquires Prime Land in Alibaug, A Strategic Investment in Paradise