Mumbai's Luxury Real Estate Market Hits New Heights with Apco Infratech's Rs 155 Crore Deal
Apco Infratech makes record-breaking purchase of a sea-view luxury triplex apartment in Mumbai's Pali Hill locality, solidifying the city's position as India's most expensive property market.
Real EstateLuxury PropertyMumbaiApco InfratechAshar GroupReal Estate NewsJul 25, 2024
Apco Infratech, a leading highways and urban infrastructure developer, acquired the 9,527 sqft apartment spanning the top three floors of the 11-storey residential tower, The Legend, developed by Ashar Group. The deal was concluded with Apco Infratech paying a stamp duty of Rs 9.30 crore for the registration.
This deal is a testament to the booming residential property market in India, particularly in Mumbai. In 2023, residential property sales across the top eight cities hit an all-time high, driven by strong demand in the mid-income, premium, and luxury segments. Mumbai, the country's largest and most expensive property market, led this surge, with property deal registrations surpassing the 10,000-mark each month for the first six months of 2024. The city has also experienced year-on-year growth in property registrations for 11 consecutive months since August 2023.
Apco Infratech is a leading highways and urban infrastructure developer with an extensive portfolio of 11 Design Build Finance Operate and Transfer (DBFOT) projects. The company manages multiple highways projects across India and in Nepal. Ashar Group, the developer of The Legend, is a renowned real estate company in Mumbai.
Apco Infratech is a leading infrastructure developer focused on building sustainable and world-class infrastructure projects. With a strong presence in the Indian and Nepalese markets, the company is committed to delivering innovative solutions that transform the urban landscape.
Frequently Asked Questions
Who bought the luxury triplex apartment in Mumbai?
Apco Infratech, a leading highways and urban infrastructure developer, bought the luxury triplex apartment in Mumbai.
How much did Apco Infratech pay for the apartment?
Apco Infratech paid Rs 155 crore for the 9,527 sqft apartment, valuing the property at Rs 1.62 lakh per sq ft.
Where is the apartment located?
The apartment is located in the Pali Hill locality of Bandra, Mumbai.
What is the current state of the residential property market in Mumbai?
The residential property market in Mumbai is booming, with property deal registrations surpassing the 10,000-mark each month for the first six months of 2024.
What is Apco Infratech's business focus?
Apco Infratech is a leading infrastructure developer focused on building sustainable and world-class infrastructure projects, with a strong presence in the Indian and Nepalese markets.
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