Param Capital’s director buys three South Mumbai apartments for Rs 263 crore, ET RealEstate

October 2, 2023

Capital market investment and trading firm Param Capital’s director Asha Mukul Agarwal has bought three luxury apartments for over Rs 263 crore in south Mumbai’s Malabar Hill from realty developer Lodha Group’s listed company Macrotech Developers.

She has purchased these apartments spread over a total of nearly 19,254 sq ft on the 24th and 25th floor of the super-luxury residential tower Lodha Malabar on Walkeshwar Road.

Of these, Agarwal has acquired two apartments on the 25th floor with a combined area of 9,719 sq ft for over 132.75 crore. She has paid Rs 130.24 crore for the single apartment spread over 9,535 sq ft on the 24th floor of the tower, showed the documents accessed through

Founded in 1993 by Mukul Agrawal, Param Capital practices long-term, value investing in the private and public markets, in India.

For all three transactions, the buyer has paid a total stamp duty alone of nearly Rs 13.15 crore for the registration of the same on September 27. In September, Mumbai property market recorded stamp duty collection of over Rs 1,121 crore setting a new benchmark.

Both the apartments will also provide Agarwal exclusive access to a total 10 car parking slots in the tower.

The under-construction project had recently witnessed the country’s most expensive apartment deal with industrialist JP Taparia’s family picking up a triplex on the 26th, 27th and 28th floor of the tower for Rs 369 crores.

According to regulatory filings, the under-construction luxury tower spread over a total 1.08 acre, opposite the governor’s estate, touching both the Arabian Sea and the Hanging Gardens, is scheduled to be completed by June 2026.

ET’s email query to Lodha and Param Capital remained unanswered until the time of going to press.

In March, Bajaj Auto chairman Niraj Bajaj purchased a sea-view luxury penthouse for over Rs 252.50 crore in this under-construction project.

In February, Welspun Group chairman BK Goenka bought a penthouse in Mumbai’s affluent Worli locality for Rs 240 crore and this was the most expensive residential transaction then. Following this deal, Oberoi Realty had paid Rs 230.55 crore for another luxury penthouse in the same project.

Malabar Hill and Walkeshwar Road are among the most sought-after addresses in the country. The micro market is known for its proximity to business hubs and traditional luxury pin codes of India. It houses many high-profile names including industrialists, corporate leaders, wealthy individuals, and C-Suite professionals.

  • Published On Oct 2, 2023 at 08:33 AM IST

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