Dream11 Co-Founder Purchases Rs 1.38 Bn Apartment in Malabar Hill

Jain acquired the apartment on the 23rd habitable floor of the ultra-luxurious residential tower Lodha Malabar, located on Walkeshwar Road, from the real estate developer Lodha’s listed company, Macrotech Developers.

According to documents accessed via indexTap.com, the buyer has paid more than Rs 80.30 million in stamp duty for the registration of the transaction, which took place on January 9. As part of the deal, Jain has secured exclusive access to six car parking slots in the tower.

In 2023, the most expensive deal ever in the country was made when the family of industrialist JP Taparia, the founder of contraceptive maker Famy Care, bought a sea-view luxury triplex apartment for over Rs 3.69 billion in the same tower.

Despite email inquiries to Dream11 and Macrotech Developers, no responses were received before publication.

In 2024, residential property sales in the top eight cities surged to an all-time high, driven by strong demand across the mid-income, premium, and luxury segments. Mumbai has continued to lead as the country’s largest and most expensive property market, maintaining a record-setting streak in property deals. South and Central Mumbai, home to the nation’s priciest apartments, have played a significant role in driving this growth, with numerous large-ticket transactions involving industrialists, top corporate executives, actors, and sports figures in recent years.