Barwale Seeds Private Limited’s director, Rajendra Barwale, along with two members of his family, has purchased a luxurious flat in Mumbai’s Malabar Hill for approximately 122 crore rupees. Malabar Hill is considered the most expensive residential area in the country. This information was obtained from documents provided by Indextape.
The flat is located in the “Malabar Palaces” project on Walkeshwar Road within Malabar Hills, being developed by MacroTech Developers, also known as Lodha Group.
According to the documents viewed by Manikantroal, the carpet area of this flat is 9,546 square feet. It comes with a balcony, terrace, and a rooftop as well. The apartment also provides six parking spaces. The registration of this flat was completed on June 30, 2023, and Rajendra Barwale paid stamp duty of 7.33 crore rupees for the same.
As of the time of writing the news, the developers had not responded to the queries sent by Manikantroal via email. The text messages sent to the Barwale family members also remained unanswered.
According to local brokers, Malabar Palaces is a redevelopment luxury project, involving the demolition of old buildings to construct new ones. Lodha Group recently launched this project. The building has a total of 31 floors, and it is expected to be completed by June 30, 2026.
The demand for luxury apartments in Mumbai’s Malabar Hill seems to be increasing. In June, directors of “Kandoi Fabrics Private Limited,” a company that manufactures packaging fabrics and bags, purchased two apartments in this luxury project for 109 crore rupees. One of the apartments is on the 11th floor with a total area of 4,643 square feet and was priced at 54.26 crore rupees. The second flat is of the same size and price, but it is located on the 12th floor.
Earlier in March, two directors of Kandoi Fabrics had purchased four sea-facing luxury apartments. Each of these apartments has an area of 4,643 square feet and was priced at 54.26 crore rupees.
In the same month, Chairman of Bajaj Auto, Neeraj Bajaj, bought a sea-facing three-story apartment from MacroTech Developers in the New Cuffe Parade for 252.5 crore rupees. On March 29, members of industrialist J.P. Tapadia’s family bought six properties in this project for around 369 crore rupees. All these flats, located on the 26th, 27th, and 28th floors, are sea-facing and have a total area of 27,160.6 square feet.
