Lloyds' promoter family buys luxury apartments in south Mumbai's Altamount Road for Rs 227 crore
Ravi Agarwal and his family, part of the Lloyds Group promoters, have acquired six sea-view luxury apartments in Mumbai's Kalpataru Prive for over Rs 227 crore. The deal, valued at Rs 1.27 lakh per sq ft, includes a seven-bedroom duplex and 24 car parking slots. This transaction reaffirms Altamount Road's status as a prime residential location.
Ravi Agarwal (Image courtesy: Lloyds) Ravi Agarwal, part of the Lloyds Group promoters, and his family have acquired six sea-view super-luxury apartments including a seven-bedroom duplex in a residential tower Kalpataru Prive on south Mumbai's Altamount Road, for over Rs 227 crore.The family has acquired apartments spread across nearly 18,000 sq ft spanning the 18th to 23rd floors of the under-construction premium tower and is valued at Rs 1.27 lakh per sq ft making it rank among the most expensive and the largest residential transactions in the country this year.The buyers have paid total stamp duty worth nearly Rs 13.29 crore for the registration of these transactions that took place on July 11. The deals will also provide the family exclusive access to 24 car parking slots in the tower, shows the registration documents accessed through Zapkey.com.The deal reaffirms Altamount Road's status as one of India's most expensive and exclusive residential micro-markets and a neighbourhood long associated with India's wealthiest industrialists and business leaders.Altamount Road has long served as home to industrial and corporate dynasties, top bureaucrats, elite families, and international consulates, earning its iconic nickname Billionaires' Row.
In addition to being part of the Lloyds Group promoter family, Ravi Agarwal is Chairman of Lloyd Realty, the real estate arm of the diversified group, which has interests spanning steel, manufacturing, and infrastructure.ET's separate email queries to the Lloyds Group and the project's developer Kalpataru remained unanswered until the time of going to press.While this is among the largest transactions this year, Mumbai has also witnessed larger record-setting residential deals in 2025, including USV Pharmaceuticals' Leena Gandhi Tewari's Rs 639 crore Worli duplex purchase and Uday Kotak's over Rs 400 crore acquisition of sea-facing apartments recently. Mumbai continues to dominate the country's real estate market maintaining its streak of record-breaking transactions backed by unwavering demand from buyers despite steady growth in property prices and the government's recently announced hike in ready reckoner (RR) rates from April 1.South and Central Mumbai--home to India's costliest residences--have been at the forefront of this boom, attracting a string of high-value deals involving industrialists, senior corporate leaders, film stars, and sports icons in recent years.
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