India's most expensive flat is worth Rs 1.36 lakh per foot, it's not owned by Mukesh Ambani

Mukesh Ambani's Antilia may hold the title of India's costliest house, but who owns the most expensive flat? In a record-breaking deal that has stunned even the most seasoned real estate experts, the family of industrialist J.P. Taparia owns India’s most expensive apartment, a sea-view triplex in South Mumbai's exclusive Malabar Hill, as reported by The Economic Times. This luxury residence, developed by the Lodha Group, has set a new benchmark with a jaw-dropping price tag of Rs 369 crore.

The triplex apartment, sprawling across the 26th, 27th, and 28th floors of the Lodha Malabar, a super-luxury residential tower, offers a panoramic view of the Arabian Sea and the Hanging Gardens. The apartment’s total area of 27,160 square feet translates to a staggering Rs 1.36 lakh per square foot, making it not just the priciest apartment in terms of total value but also one of the most expensive on a per-square-foot basis.

The deal surpasses all previous noteworthy transactions in India’s luxury real estate market. The Taparia family, known for their business in contraceptive products through their company Famy Care, have paid Rs 19.07 crore in stamp duties alone for this prime property, ET reported. The apartment’s location on Walkeshwar Road, a stone’s throw from the governor's estate, adds to its allure. This area, traditionally associated with luxury, is home to several industrial magnates and high-net-worth individuals.

J.P. Taparia, the patriarch of the family, transitioned from his family's hand tools and engineering business in 1990 to establish Famy Care, now the world’s largest producer of Copper-Ts and a key player in the global female contraceptive market.