Tufropes' director purchases South Mumbai condo for Rs 121 crore
27 Mar 2023
2 Min Read
CW Team
This second significant transaction was disclosed in the Lodha Group's Lodha Malabar project. On March 10, Niraj Bajaj, the chairman of Bajaj Auto, paid Rs 2.52 billion for a triplex apartment measuring more than 18,008 square feet on the project's top three levels, breaking the previous record for the priciest penthouse in the city.
Madhav Goel, director of Tufropes, a top supplier of synthetic fiber rope and netting solutions, has paid Rs 1.21 billion for a 9,546 square foot apartment in the sea-facing Lodha Malabar complex in Malabar Hill. This is yet another high-profile purchase this year.
The apartment was purchased from Macrotech Development Ltd, a listed developer, and will have six parking spaces. It is located on the 19th floor of the opulent residential development on Walkeshwar Road.
According to paperwork, the transaction was registered on March 23 and the buyer paid a stamp duty of 7.26 crore. The purchase brought in $1,26,754 per square foot.
Goel, the director of Tufropes, which prides itself on being a world leader in the production of synthetic fiber rope and nets used in industries such as shipping, fishing and aquaculture, agriculture, horticulture, and sports. He lives in the Sterling Apartments on Peddar Road and holds directorships in Polysil Drip Irrigation and Elixir Industries Private Ltd. in addition to being a designated partner in SMG Designs LLP, Fibretech LLP, and Resin Agency LLP.
The expected possession date of Lodha Malabar, which is now under construction, is June 2026. The project's 36 units are split between the A and B wings and range in size from 3,800 square feet for 4 BHK apartments to 6,640 square feet and 7,995 square feet for 5 BHK duplex homes.
As high-net-worth individuals (HNIs) attempt to reinvest in luxury properties, additional high-value transactions of Rs 200 million and above ticket size are likely to be filed in the luxury segment over the course of the next six days. The government has declared that the exemption from long-term capital taxes for purchasing residential units will be capped at Rs. 100 million as of April 1.
See also:
Feat Properties buys luxury bungalow in Mumbai at Rs 182.75 cr
40% home buyers seek luxury and premium properties: ANAROCK, CII
This second significant transaction was disclosed in the Lodha Group's Lodha Malabar project. On March 10, Niraj Bajaj, the chairman of Bajaj Auto, paid Rs 2.52 billion for a triplex apartment measuring more than 18,008 square feet on the project's top three levels, breaking the previous record for the priciest penthouse in the city.
Madhav Goel, director of Tufropes, a top supplier of synthetic fiber rope and netting solutions, has paid Rs 1.21 billion for a 9,546 square foot apartment in the sea-facing Lodha Malabar complex in Malabar Hill. This is yet another high-profile purchase this year.
The apartment was purchased from Macrotech Development Ltd, a listed developer, and will have six parking spaces. It is located on the 19th floor of the opulent residential development on Walkeshwar Road.
According to paperwork, the transaction was registered on March 23 and the buyer paid a stamp duty of 7.26 crore. The purchase brought in $1,26,754 per square foot.
Goel, the director of Tufropes, which prides itself on being a world leader in the production of synthetic fiber rope and nets used in industries such as shipping, fishing and aquaculture, agriculture, horticulture, and sports. He lives in the Sterling Apartments on Peddar Road and holds directorships in Polysil Drip Irrigation and Elixir Industries Private Ltd. in addition to being a designated partner in SMG Designs LLP, Fibretech LLP, and Resin Agency LLP.
The expected possession date of Lodha Malabar, which is now under construction, is June 2026. The project's 36 units are split between the A and B wings and range in size from 3,800 square feet for 4 BHK apartments to 6,640 square feet and 7,995 square feet for 5 BHK duplex homes.
As high-net-worth individuals (HNIs) attempt to reinvest in luxury properties, additional high-value transactions of Rs 200 million and above ticket size are likely to be filed in the luxury segment over the course of the next six days. The government has declared that the exemption from long-term capital taxes for purchasing residential units will be capped at Rs. 100 million as of April 1.
See also: Feat Properties buys luxury bungalow in Mumbai at Rs 182.75 cr 40% home buyers seek luxury and premium properties: ANAROCK, CII
Next Story
ClickPost Launches Atlas to Benchmark E-commerce Logistics
ClickPost, a leading logistics intelligence platform, has launched Atlas, a subscription-based benchmarking tool designed to transform how e-commerce brands strategise logistics. Powered by ClickPost鈥檚 proprietary network, which processes over 50 million shipments each month, Atlas enables brands to benchmark key operational metrics in real time against industry peers and standards.Unlike traditional dashboards, Atlas delivers comparative insights鈥攆rom fulfilment speeds, RTO rates and average order values to city-level delivery times and sales data鈥攁llowing brands to identify operational..
Next Story
Kalyani Launches Two New LivingTree Towers in Bengaluru
Bengaluru-based Kalyani Developers has announced the launch of Towers 3 and 4 at its flagship residential project, Kalyani LivingTree, located in KIADB Aerospace Park. The expansion adds 525 premium 3BHK apartments, ranging from 1300 to 1600 sq ft, and over 7.5 lakh sq ft of built-up area. Prices start from Rs 1.2 crore.These towers, the most exclusive in Phase 1, offer uninterrupted pool and landscape views, and access to over 60 lifestyle amenities, two clubhouses totalling 1 lakh sq ft, and more than 80 per cent open space.LivingTree spans 25 acres and will comprise ten towers of 23鈥�24 fl..
Next Story
Blue Water Logistics IPO opens May 27
Hyderabad-based Blue Water Logistics is launching its Rs 40.5 crore IPO on May 27, 2025, which will remain open for subscription until May 29. The price band has been set at Rs 132 to Rs 135 per share, with a lot size of 1,000 shares. This is a book-built issue entirely comprising a fresh issue of 30 lakh equity shares. The IPO will be listed on the NSE Emerge platform.Smart Horizon Capital Advisors is the sole book-running lead manager, while Maashitla Securities will act as the registrar. The anchor book will open on May 26, 2025. The IPO allocates 8,35,000 shares to anchor investors, 1,56,0..