Lodha sold super luxury apartment in South Mumbai for Rs.40 crore

Q: This is the first apartments sold in Lodha Altamount, South Mumbai's Altamount Road.

Lewin G,

21st October 2015

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Replies (3)

Hi everybody,
In south Mumbai, areas such as Carmichael Road, Altamount Road and Malabar Hill command the highest premium in terms of prices, followed by Nepeansea Road, Warden Road and then Peddar Road and Hughes Road. These localities are not for the common people only high profile people are residing there.

khushisha, Mumbai

22nd October 2015

Comment

Hi all,
South Mumbai is one of the most expensive locations in the country. Property prices is unaffordable for a salaried person. Property prices are in the range of Rs.(1 -1.20) lakh per sq-ft.

Deepankar Godbole, Mumbai

21st October 2015

Comment

Hi Deepankar,
Lodha Developers recently launched The Luxury Collection, a separate business vertical to develop super-luxury projects, starting with Mumbai and London. Lodon based property will have a portfolio of residential projects, which will be serviced by St. Amand Hospitality, Lodha's new in-house personalized services to residents. The Altamount Road project, a property that was bought by the company from the US consulate for Rs.350 crore 3 yrs ago.

Amreesh Murugan,

21st October 2015

In September, Aditya Birla Group come forward as the highest bidder to buy an iconic bungalow in south Mumbai's Malabar Hill for Rs.425 crore in one of the costliest residential deals in recent years. In another big-ticket transaction in the same month, Lincoln House, a property on Breach Candy was bought by Cyrus Poonawalla for Rs.750 crore.

Deepankar Godbole, Mumbai

21st October 2015

But as per the recent data it is found that sales are slow in south Mumbai, and deals are taking longer to close as buyers are taking longer to take decisions. But super-luxury apartments are selling on fast pace. This is 3rd such kind of deal happened in Mumbai.

Amreesh Murugan,

21st October 2015

Yes, this 5BHK apartment has a livable area of 2826 sq-ft along with a pool and a terrace. Lodha One Altamount, a property that Lodha bought from the US consulate for Rs.350 crore 3 yrs ago.

Vineet Tendulkar, Mumbai

21st October 2015

Comment

Hi Vinnet,
I heard that they sold the flats at the rate of Rs.141543/sq-ft. I hope, this is possibly the highest per square foot price for an apartment in an under-construction project in recent times.

Amreesh Murugan,

21st October 2015