SSNiraj Bajaj, the chairman of Bajaj Auto, has bought the country's costliest penthouse in Mumbai's Malabar Hill. He shelled out over Rs 252 crore for the sea-facing apartment in Lodha Malabar Palaces.
Niraj Bajaj is the current chairman of Bajaj Auto. A Harvard Business School graduate, Niraj is well-known in business circles in India and abroad as a promoter-director of the Bajaj Group of companies.
Niraj Bajaj has bought a triplex in an under-construction tower of Lodha Group at Walkeshwar in south Mumbai. He has booked the top three floors in the upcoming tower, which is close to Raj Bhavan.
Niraj Bajaj's uber luxury apartments are spread over an area of 18,008 square feet. He paid about Rs 1.4 lakh per square feet for the triplex in the 31-storey skyscraper project.
As per a report, work on the skyscraper project has just started and the building is scheduled to be completed by June 2026. Bajaj's apartments will be on the 29, 30, and 31st floors of the tower.
In Lodha Malabar, Bajaj and his family will have access to a private rooftop terrace with a swimming pool. The deal was registered on Monday and a Rs 15 crore stamp duty was paid, according to IndexTap.com.
Bajaj currently resides with his family at the Mount Unique building on Pedder Road, an iconic road stretch that connects Malabar Hill and Tardeo localities of Mumbai. Here, the Bajajs have lived for decades.
With this deal, Niraj Bajaj has surpassed Welspun Group's BK Goenka, who recently purchased a penthouse in Oberoi Realty’s luxury project - Three Sixty West - at Worli for Rs 230 crore.
Earlier this year, DMart retail chain founder Radhakishan Damani and his family have purchased 24 luxury apartments worth about Rs 1,500 crore in an ultra-premium project in Mumbai's Worli locality.