Ashar Group to Redevelop Pali Hill Bungalow of Bollywood Legend Dilip Kumar in Bandra West

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Ashar Group, based in Thane, will redevelop the mansion of the late Bollywood icon Dilip Kumar in the upscale Pali Hill neighbourhood of Bandra, Mumbai, into a luxurious housing project with an estimated revenue potential of Rs 850 crore.

The Legend is a 1.75-million-square-foot development that is anticipated to feature four- and five-bedroom luxury residences. The residences will range in size from 3,200 to 7,000 square feet. According to Ajay Ashar, managing director and chairman of the Ashar Group, the initiative is likely to include a 2,000-square-foot museum devoted to Dilip Kumar.

These exclusive luxurious residences in Pali Hill, Bandra West (one of the most prestigious locations in Mumbai) will be marketed to high-net-worth individuals, such as film stars, celebrities from all walks of life, industrialists, and others.

As per Ashar, the organisation will also construct duplex apartments. The launch price could range from Rs 1.30 lakh/sq. ft. to over Rs 1.5 lakh/sq. ft., the current market rates for Pali Hill. With an opulent undertaking in Bandra west, Ashar Group hopes to generate Rs 850 Cr.

"After Navroze, The Legend is our second luxurious property in the Pali Hill neighbourhood of Bandra. We have an occupation certificate (OC) for Navroze, which we obtained approximately 18 months ago. We will target purchasers in the segment of high-net-worth individuals (HNI) and aim to sell apartments rather than rent them out. As the rental yield is less than four or five percent, I believe selling makes sense. According to the RERA registration, construction has begun and completion is scheduled for 2027. However, we will be able to finish it much sooner, within the next two years,"

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