Bollywood film producer and director, Dinesh Vijan, has made headlines with his latest real estate investment – a luxury duplex apartment located in Mumbai’s upscale Pali Hill area in the suburb of Bandra.
The sprawling apartment, which spans nearly 7,800 square feet, is part of the under-construction Rustomjee Parishram tower. The staggering transaction amount of Rs 103 crore values the property at an astounding rate of over Rs 1.32 lakh per square foot, making it one of the most expensive residential deals across the country.
Dinesh Vijan, who ventured into the world of filmmaking after leaving his banking career in 2004, is renowned for his successful productions under the banner of Maddock Films. Some of his notable works include popular movies like “Being Cyrus,” “Stree,” “Cocktail,” and “Hindi Medium.”
The registration of this opulent purchase was completed on Tuesday, with Vijan paying a substantial stamp duty of over Rs 6.17 crore for the transaction. The apartment was acquired directly from the renowned developer Rustomjee Group’s listed entity, Keystone Realtors.
The apartment’s valuation is remarkable, with a rate of Rs 1.13 lakh per square foot even based on its built-up area of 9,077 square feet. The property, situated on the 15th and 16th floors of the 22-storey tower, offers a partial view of the sea, adding to its allure.
Mumbai, known for its exorbitant real estate prices, has been witnessing a series of record-breaking property transactions involving prominent figures from various sectors, including industrialists, CXOs, actors, and sports personalities. Among Bollywood celebrities, notable luxury residential purchases by stars like Amitabh Bachchan, Ranveer Singh, Hrithik Roshan, Rani Mukherjee, Kartik Aryan, Alia Bhatt, and Disha Patani have been creating a buzz in the property market.
The Pali Hill and Bandra areas, home to several personalities from the Hindi film industry, are also known for attracting prominent residents from the industrial and corporate world.
Despite media inquiries, both Dinesh Vijan and Rustomjee Group have yet to respond with official statements about the acquisition.
In another noteworthy transaction, Siddharth Jain, a member of INOX Group’s promoter family, recently purchased a sea-view luxury quadruplex apartment on Dr. Annie Besant Road in Mumbai’s prestigious Worli locality for a whopping Rs 144 crore.