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Lloyds' promoter family buys luxury apartments in south Mumbai's Altamount Road for Rs 227 crore

Lloyds' promoter family buys luxury apartments in south Mumbai's Altamount Road for Rs 227 crore

Time of India18-07-2025
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.
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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.
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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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India-UK trade deal enables duty-free exports, China's mega dam causes fresh unease, Gaza at breaking point
India-UK trade deal enables duty-free exports, China's mega dam causes fresh unease, Gaza at breaking point

Indian Express

timea minute ago

  • Indian Express

India-UK trade deal enables duty-free exports, China's mega dam causes fresh unease, Gaza at breaking point

India signs its first landmark trade deal with the UK, secures enhanced market access in export-oriented and job-creating sectors; During Prime Minister Narendra Modi's visit to the Maldives, New Delhi launches talks on FTA, announces a Rs 4,850-crore line of credit to the maritime neighbouring country; amid reports of India-China thaw, Beijing's mega-dam project on the Brahmaputra (Yarlung Tsangpo) raises hackles in New Delhi; India calls for ceasefire in Gaza, where starvation deaths and killings seem to have crossed a critical threshold; as the clash between Thailand and Cambodia entered its third day, Indians in Cambodia advised to avoid travelling to border areas – here is weekly roundup of key global news. Enhanced market access in export-oriented and job-creating sectors, and duty-free access for 99 per cent of India's exports to the UK are among the major benefits New Delhi bagged as part of its first landmark trade deal with London. 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This includes key job-creating sectors such as textiles, leather, footwear and gems and jewellery, as well as sectors like engineering goods and automobile components. 📌 For instance, the UK will eliminate duties of up to 20 per cent on textiles, giving a competitive edge to India – the fourth-largest textile supplier to the UK – over other competitors like China and Bangladesh. Micro, Small and Medium-scale Enterprises (MSMEs), which have a dominant presence in the sector, are also expected to benefit from the agreement. 📌 India extracted enhanced market access in export-oriented sectors such as marine and animal products, including seafood, dairy, and meat products, with tariffs reduced to zero from up to 20 per cent. Tariffs on tea and coffee have also been scrapped. 📌 For the first time, India has allowed firms from the UK to participate in government tenders, giving them Class Two status under 'Make In India' rules, which require 20-50 per cent domestic value addition. 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'India Our Closest Partner, It Is Even Better Now': Maldives President Muizzu
'India Our Closest Partner, It Is Even Better Now': Maldives President Muizzu

News18

time15 minutes ago

  • News18

'India Our Closest Partner, It Is Even Better Now': Maldives President Muizzu

Last Updated: News18 spoke with Mohamed Muizzu at the Republic Square in Malé, soon after PM Modi left following a two-day state visit Maldives President Mohamed Muizzu told News18 in an exclusive conversation on Saturday that India is his country's 'closest partner" and the new Rs 5,000 crore credit line announced by Prime Minister Narendra Modi during his visit will greatly help the archipelagic country. News18 spoke with Muizzu at the Republic Square in Malé, soon after PM Modi left following a two-day state visit. 'India is our closest partner, of course. I'm sure it is even better now," Muizzu said. The President said that the Maldives was looking forward to the completion of the free trade agreement (FTA) with India. Both countries announced during PM Modi's visit that they will begin negotiations over the FTA. '⁠Once completed, the FTA will be very beneficial for traders of both countries. We are looking forward to it," Muizzu told News18. He also described the new Rs 5,000 crore credit line from India as a big help. Muizzu, in fact, told News18 how his government plans to utilise this aid. 'We have earmarked a lot of crucial projects to carry out with that. For example, hospitals, housing development, infrastructure, schools. So, it will definitely help," Muizzu said in the interview. The Maldives President also expressed his '⁠utmost thanks" to PM Modi for coming on this visit. 'We are very grateful to the PM," Muizzu told News18. These comments from Muizzu are a remarkable turnaround from 2023, when he came to power in the Maldives on an 'Out India" plank, and some of his ministers made uncharitable remarks on India in 2024. Muizzu also made state visits to Turkey and China before India, changing an old convention where a Maldives President always paid his first visit to India. But foreign minister S Jaishankar's visit to the Maldives last year, followed by Muizzu's state visit to India in October, brought bilateral relations back on track. view comments First Published: July 26, 2025, 19:13 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Air India releases interim compensation to families of 147 AI-171 crash victims
Air India releases interim compensation to families of 147 AI-171 crash victims

New Indian Express

time20 minutes ago

  • New Indian Express

Air India releases interim compensation to families of 147 AI-171 crash victims

NEW DELHI: Air India on Saturday said it has completed the payment of interim compensation of Rs 25 lakh each to the families of 147 passengers who lost their lives in the AI 171 Ahmedabad flight crash. The airline is in the process of disbursing the compensation to 52 more families. In the horrific 12 June Dreamliner crash at Ahmedabad, 229 flyers, 12 airline crew members, and 19 non-passengers allegedly lost their lives. An official statement said that Air India had started releasing interim payments of Rs 25 lakh to the affected families over a month ago to help them meet their immediate financial needs. 'Air India has so far released the interim compensation to the families of 147 of the 229 deceased passengers and also the 19 who lost their lives at the accident site. In addition, the requisite documents of 52 others have been verified, to whose families the interim compensation will be released progressively,' it said.

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