Asha Mukul Agrawal buys Rs 263 crore luxury apartments in Malabar Hill's Lodha Malabar tower.
Asha Mukul Agrawal, director of Param Capital, a capital market investment and trading firm, recently made a significant real estate move. She acquired three luxury apartments in Malabar Hill, south Mumbai, from Macrotech Developers, the listed company of realty developer Lodha Group. The total investment amounts to over Rs 263 crore for these lavish residences situated on the 24th and 25th floors of the upscale residential tower Lodha Malabar on Walkeshwar Road. The combined area of these apartments is nearly 19,254 sq ft, providing a luxurious living space.
Notably, Agrawal secured two apartments on the 25th floor, spanning 9,719 sq ft, for a sum exceeding Rs 132.75 crore. Additionally, she acquired a single apartment on the 24th floor, covering 9,535 sq ft, for Rs 130.24 crore. The transactions, completed on September 27, involved a significant stamp duty of nearly Rs 13.15 crore. The purchase also grants Agarwal exclusive access to 10 car parking slots within the tower.
Param Capital, established in 1993 by Mukul Agrawal, follows a long-term, value investing approach in both private and public markets in India. The firm, led by Asha Mukul Agarwal, demonstrates a strategic move into high-end real estate, aligning with the trend of significant property investments in Mumbai's luxury market.
Lodha's under-construction project, Lodha Malabar, has been making headlines in the real estate sector. The recent deal involving Agarwal follows the country's most expensive apartment transaction, where the Taparia family acquired a triplex on the 26th, 27th, and 28th floors for Rs 369 crores. The luxury tower, occupying a prime location opposite the governor's estate and offering views of the Arabian Sea and Hanging Gardens, is scheduled for completion by June 2026.
Notable personalities, including Bajaj Auto chairman Niraj Bajaj and Welspun Group chairman BK Goenka, have previously invested in this prestigious project. The micro-market of Malabar Hill and Walkeshwar Road stands out as a coveted address, attracting industrialists, corporate leaders, affluent individuals, and C-Suite professionals due to its proximity to business hubs and traditional luxury locales in India. While queries to Lodha and Param Capital remained unanswered, this real estate transaction underscores the allure of Mumbai's prime residential locations for high-profile investors.
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