A significant milestone in Mumbai real estate occurred with the sale of a triplex apartment in the building formerly occupied by the iconic actor Dilip Kumar’s bungalow.
The expansive 9,527.21 square foot triplex, sold by Blackrock to Apco Infratech Private Limited, commanded an impressive price of Rs 155 crore. According to SquareFeatIndia.com, the triplex spans the 9th, 10th, and 11th floors, with a cost of approximately Rs 1.62 lakh per square foot. The stamp duty for this high-value transaction totaled Rs 9.30 crore.
This sale is part of a broader development initiative that began last year when Dilip Kumar’s family reached an agreement with the Ashar Group to redevelop the Pali Hill site into a luxury residential project. The site, once home to Dilip Kumar’s bungalow, will now feature a modern residential tower. A key element of this project is a museum on the ground floor dedicated to Dilip Kumar’s life and career. This museum will have a separate entrance for public access, ensuring that the actor’s legacy is honored and preserved.
Dilip Kumar, a Bollywood legend, passed away at 98 on July 7, 2021, after a long illness. His association with the Bandra West property began in 1953 when he purchased it from Mohammad Latif for Rs 1.4 lakhs. The bungalow, where Kumar resided for fifty years, became a notable landmark, reflecting his remarkable career. However, the property was subject to legal disputes over several years.
The legal issues mainly involved allegations from Kumar’s family that a real estate firm had forged documents in an attempt to claim the property. After extended legal battles, Kumar’s wife, Saira Banu, regained control of the bungalow in 2017, resolving the disputes and ensuring the property was legally clear.
The ongoing development project not only transforms the physical space but also pays homage to Dilip Kumar’s lasting impact. The new luxurious triplex and the museum represent a fusion of modern luxury and historical tribute, celebrating a man who profoundly influenced Indian cinema. This sale and development underscore the evolving nature of Mumbai’s real estate market, where history and contemporary trends often merge in intriguing ways.