The Nargis Dutt Road building is coming up as part of a society redevelopment project undertaken by Mumbai-based developer Rustomjee. Parishram Society (now renamed Rustomjee Parishram) is one of several old buildings in Pali Hill being redeveloped into ultra-luxury apartment blocks.
According to IndexTap.com, the transaction was registered on July 25 and a stamp duty of Rs 6.2 crore was paid by the buyer. The three apartments are spread over a built-up area of 9,000 sq ft (7,791 sq ft carpet). When completed, the tower will stand 20 storeyes high.
The deal is the latest among several property transactions involving people from the film industry. In June, actor Karthik Aryaan purchased a 1,916 sq ft apartment in Juhu for Rs 17.5 crore. Last year, actor Ranveer Singh bought a sea-facing Bandra Bandstand quadruplex for Rs 119 crore.
The city’s lucrative real estate market has always been a safe haven for Bollywood bigwigs to invest their millions and buy marquee properties. TOI had earlier reported that Salman Khan’s family planned to build a hotel on a prime, sea-facing plot at Carter Road, Bandra.
Actor Hrithik Roshan and his father Rakesh are big investors in the city’s property market, picking up luxury apartments in prime locations. In 2020, the actor bought three floors in a residential tower on Juhu-Versova Link Road for close to Rs 100 crore. The Roshans have also invested in commercial properties, mainly in the western suburbs.
Early this year, the legal heirs of film legend Raj Kapoor monetised his one-acre bungalow property in Chembur for Rs 100 crore. It was bought by Godrej Properties, which had also purchased the Kapoor-owned R K Studios nearby.
