Lloyds Group Promoters Acquire Luxury Kalpataru Prive Apartments Worth ₹227 Crore on Mumbai's Altamount Road

Mumbai, July 19, 2025 — The promoter family of Lloyds Group has reportedly completed one of this year's most significant real estate acquisitions, purchasing six ultra-luxury apartments in Mumbai's prestigious Altamount Road locality for ₹227 crore.

Prime Location Purchase Details

The luxury residences are situated in Kalpataru Prive, an upscale under-construction residential tower renowned for its sweeping sea views and premium amenities. The transaction was registered on July 11, with buyers Ravi Agarwal, Chairman of Lloyd Realty, and his father Babulal Agarwal, Chairman of the Lloyds Group, acquiring six units spanning floors 18 to 23.

Each apartment offers extensive sea-facing perspectives and collectively covers a total carpet area of 17,908 sq. ft. The deal represents an average price of approximately ₹1.27 lakh per sq. ft, positioning it among Mumbai's most premium property sales.

Transaction Specifics and Additional Benefits

The acquisition includes 24 car parking slots alongside the residential units, further enhancing the deal's value proposition. Property registration records indicate that stamp duty of ₹13.29 crore was paid on the transaction.

Kalpataru Prive is being developed by the Kalpataru Group, recognized as one of India's premier luxury real estate developers. The project is scheduled for completion within the next 18–24 months, adding another prestigious tower to the Altamount Road skyline—an area that houses some of India's wealthiest individuals and landmark addresses including Mukesh Ambani's Antilia and Lodha Altamount.

Market Context and Industry Trends

This acquisition occurs during a surge of ultra-luxury property transactions in Mumbai throughout 2025, including significant purchases by prominent business figures and record-breaking sea-view acquisitions.

Real estate analysts suggest the transaction reflects sustained demand from ultra-high-net-worth individuals (UHNWIs) for premium real estate in Mumbai's most prestigious micro-markets, despite rising stamp duties and ready reckoner rates. Industry experts believe such deals reinforce Mumbai's position as India's luxury property hub.

A luxury property consultant familiar with the transaction noted that deals of this magnitude reinforce Altamount Road's reputation as the gold standard for residential real estate in India, emphasizing exclusivity, location, and long-term value rather than merely price considerations.

Market Implications

As Mumbai's luxury housing market continues its upward trajectory, this transaction solidifies Kalpataru Prive's position among the most coveted addresses for the city's elite. The deal also reflects the ongoing confidence of India's ultra-wealthy in premium real estate investments.

Disclaimer: This news article is based on publicly available information and property registration records. The details mentioned are for informational purposes only and should not be considered as investment advice. Readers are advised to conduct their own research and consult with qualified professionals before making any real estate investment decisions.

Meta Description: Lloyds Group promoters purchase six luxury sea-view apartments at Kalpataru Prive, Altamount Road for ₹227 crore, marking one of Mumbai's biggest 2025 real estate deals.

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