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Biotech and seed promoter family heads in one of the costliest property transactions Maharashtra Hybrid Seed Company ,Mahiko) has bought a sea-view luxury apartment worth over Rs 122 crore in South Mumbai‘S Malabar Hill Listed company of realty developer Lodha Group Macrotech Developers,
buyer Rajendra BarwaleMahiko’s director along with his wife and son have bought an apartment spread over 9,546 sq ft on the second floor of super-luxury residential tower Lodha Malabar on Walkeshwar Road.
The transaction values the apartment at Rs 1.28 lakh per sq ft, making it one of the most expensive homes sold anywhere in India on a per sq ft basis. The total area includes an exclusive balcony and terrace area surrounded by apartments.
The transaction was concluded and registered on June 30 and the buyers have paid Rs 7.33 crore as stamp duty alone for its registration, according to documents accessed through indextap(.com). As part of the agreement, the Barwale family will also get exclusive access to 6 car parking slots in the residential tower.
Mahyco, known for its high-yielding and cost-effective seeds, was instrumental in bringing Bt cotton to India in 2002, when its founder Badrinarayan Barwale formed a joint venture with Monsanto Investments to form Mahyco Monsanto Biotech which is now part of the Bayer Group.
The under-construction project recently saw the country’s costliest apartment deal, with industrialist JP Taparia’s family buying a triplex on the 26th, 27th and 28th floors of the tower for Rs 369 crore.
The under-construction luxury tower, spread over a total of 1.08 acres, facing the Governor’s Estate, touching both the Arabian Sea and the Hanging Gardens, is scheduled to be completed by June 2026, according to regulatory filings.
Barwale’s team and Lodha had not received a response to ET’s email query at the time of writing.
in March, Bajaj Auto Chairman Neeraj Bajaj bought a sea-view luxury penthouse in this under-construction project for over Rs 252.50 crore.
in February, welspun Group chairman BK Goenka bought a penthouse in Mumbai’s affluent Worli area for Rs 240 crore and it was the costliest residential transaction at that time. After this deal, oberoi realty In the same project, Rs 230.55 crore was paid for another luxury penthouse.
Malabar Hill and Walkeshwar Road are among the most sought-after addresses in the country. The micro market is known for its proximity to India’s business centers and traditional luxury pin codes. This includes many high-profile names including industrialists, corporate leaders, wealthy individuals and C-suite professionals.
