Asha Mukul Agarwal, a director at Param Capital, has reportedly purchased three luxury apartments in Malabar Hill for a total sum of Rs 260 crores. These apartments are located in a project being developed by Macrotech Developers.. The combined area of the three flats is said to be over 20,000 square feet, with two apartments on the 25th floor and one on the 24th floor. A stamp duty of approximately Rs 13 crores was paid for the registration of the agreements last month. The Lodha Malabar project is expected to be completed in June 2026. Other notable purchases in the same project include Niraj Bajaj's and the JP Taparia family's acquisitions. The demand for luxury residential properties in Mumbai remains strong, with the city leading in luxury transactions this year.
Asha Mukul Agarwal, a director at Param Capital is said to have purchase three luxury apartments for a total sum of Rs 260 crores in Malabar Hill. The flats are located in a project being developed by Macrotech Developers.
The total combined area three flats are said to be over 20,000 square feet. Of the three purchased flats, two are situated on the 25th with a combined area of approximately 9,700 square feet and one apartment is situated on the 24th floor with a carpet area of approximately 9,500 square feet. According to data published by Indextap.com, a stamp duty of around Rs 13 crores was paid to register the agreements last month.
The flats are part of the ultra-luxurious project Lodha Malabar, situated on Walkeshwar Road in Malabar Hill, Mumbai. The project is being developed by Macrotech Developers that markets their projects under the brand name “Lodha Group’. As per data published on the MahaRERA website, the project is scheduled to be completed in June 2026.
Other notable purchases in the same project include Niraj Bajaj’s purchase in March which was just under Rs 26 crores and the JP Taparia’s family purchase of a triplex spanning three floors for a whopping Rs 369 crores.
Param Capital, founded by Mukul Agarwal in 1993, operates as a capital market investment and trading firm. It specializes in long-term value investing in both private and public markets in India.
The demand for luxury residential properties in India remains robust, with Mumbai leading the way in terms of transactions this year. As the industry continues to recover, it is expected that this momentum will further strengthen.
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