The late legendary actor, Dilip Kumar's family bungalow will be redeveloped as a luxury residential project titled 'The Legend.' Sales for the property have already crossed the Rs. 500 crore mark.
The nation celebrated the late Bollywood legend, Dilip Kumar's 102nd birth anniversary on December 11, 2024. Amid the momentous occasion, a significant development about his family bungalow in Mumbai came to light. According to reports, the residence located in Bandra's Palli Hill area is scheduled for redevelopment. The bungalow, which meant a great deal to the late actor and his wife, Saira Banu, is going to be transformed into a luxury residential project titled The Legend. The project has been undertaken by the Mumbai-based real estate firm, Ashar Group.
Soon after the 102nd birth anniversary of legendary actor, Dilip Kumar was celebrated, the news about his family bungalow being redeveloped as a luxury resident property was released. Well, the project has already hit a significant milestone as it crossed the Rs. 500 crore mark in sales within a mere 15 months of its launch. Ashar Group, the company leading the project, released a statement about the achievement that read:
"'The Legend by Ashar' on Pali Hill, Bandra, has achieved a milestone, crossing Rs 500 crore in sales within 15 months of its launch. This achievement reflects the strong demand for opulent residences in one of Mumbai's most coveted neighbourhoods and sets a new benchmark for high-end real estate in the city."
A report by Zapkey.com revealed that the real estate firm, Ashar Group had successfully sold four apartments out of the 19 units in its inventory. The sales had included triplexes, with one transaction already registered formally, while the other three are expected to be registered in the next two months.
The property registration documents reveal that Apcon Infratech Private Limited, a well-known infrastructure development company, nabbed the first apartment for a whopping Rs. 155 crore in July 2024. The other three transactions for the luxury apartments were settled at the spectacular rate of close to Rs. 1.50 lakh per sq ft. The buyers interested in the property include several high-net-worth individuals like businessmen, infrastructure firm promoters, and chartered accountants. As per reports, the pending transactions are expected to be officially registered towards the end of January or early February.
Reports suggest that Ashar Group plans to build 19 luxury apartments in the space occupied by Dilip Kumar's bungalow. The project will consist of luxury apartments that are 4BHK and 5BHK, some of which will be duplex units. The company has also opened up about plans to construct a 2,000 sq ft museum in honour of the late legend, Dilip Kumar. For the unversed, the contract with the Ashar group had been signed by Dilip himself in March 2016, paving the way for the luxury residential property.
Dilip Kumar's bungalow, which sprawled across 2,000 sq m, became a landmark over the years. The legendary actor owned the property for several decades and delivered some of his most iconic hits like Naya Daur, Devdas, and more from this very space. Following his marriage with Saira Banu in 1966, the actor moved down the road into her house. The couple had been trying to redevelop the legendary landmark since 2006 before finally signing the deal with Ashar Group.
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