Mumbai, India, 03rd December 2024 – Ashar Group, a prominent real estate developer in the Mumbai Metropolitan Region (MMR), announced that its uber-luxurious project, ‘The Legend by Ashar’ on Pali Hill, Bandra, has achieved a significant milestone, crossing INR 500 crore in sales within 15 months of its launch. This remarkable achievement reflects the strong demand for opulent residences in one of Mumbai’s most coveted neighbourhoods and sets new benchmarks for high-end real estate in the city.
‘The Legend by Ashar’ is an exclusive non-redevelopment boutique project that offers low-density, luxurious living designed for an elite community. This iconic residence is a tribute to legendary Bollywood icon Late Dilip Kumar Sahab’s elegance, charisma, and legacy, bringing forth a perfect blend of nostalgia and modern sophistication. The project’s unparalleled exclusivity has resonated with discerning buyers seeking a combination of heritage and distinctiveness in Mumbai.
This sales milestone follows the record-breaking sale of a 9,527-square-foot triplex to Apco Infratech Private Limited at INR 1.81 lakhs per square foot—one of the highest-value real estate transactions in 2024. This transaction underscores the extraordinary appeal and market value of ‘The Legend by Ashar,’ attracting high-net-worth individuals (HNIs) who cherish sophistication, timeless heritage, and the irresistible allure of Pali Hill, and this was reaffirmed with subsequent transactions securing an average rate of INR 1.71 lakhs per sq. ft.
Mr. Ajay Ashar – CMD – Ashar Group & Vice-Chairman, MITRA, commented, “Surpassing INR 500 crore in sales for ‘The Legend by Ashar’ is a testament to the project’s exceptional quality, exclusivity, and the resilience of Mumbai’s luxury real estate market. This milestone reflects Ashar Group’s commitment to delivering ultra-luxury spaces embodying heritage and innovation.”
The RERA-certified project offers three unique residential experiences: The Estate (3,200 sq. ft. with panoramic floor-to-ceiling windows and columnless floorplates), The Duets (3,400 sq. ft. vertical villas with double-height living spaces), and The Bungalows (3,700 sq. ft. space with access to private gardens). In addition to its exclusive design, The Legend by Ashar, provides a world-class suite of amenities, including a state-of-the-art fitness center, a temperature-controlled swimming pool, and concierge services, ensuring a lifestyle marked by privacy, comfort, and sophistication.
Ashar Group is a Mumbai-based leading luxury real estate developer. It is one of the most trustworthy developers of MMR and is a well-known player in the MMR and is committed to quality and timeline. Ashar Group has already delivered 7.5 million sq.ft. of prime real estate till date and has over 12.5 million sq.ft of real estate under development since inception in 2001.
