JP Taparia have bought a luxury triplex apartment worth 369 crore in South Mumbai's Malabar Hill

The family members of industrialist and founder of Famy Care JP Taparia have bought a luxury triplex apartment worth 369 crore in South Mumbai's Malabar Hill. The sea-view apartment is said to be the most expensive in the country, reported The Economic Times citing sources.

The apartment pans across the 26th, 27th and 28th floor of the luxury residential tower Lodha Malabar in posh Walkeshwar Road area, opposite the governor's estate. The prime area of the maximum city touches both the Arabian Sea and the Hanging Gardens.

As per the reports, the apartment spreads across 27,160 square feet and the cost per sq ft was Rs 1.36 lakh making it one of the country's most expensive residential flats.

It is the latest development in the country's luxury housing market, which is witnessed a good demand momentum. In February, DMart founder Radhakishan Damani's family members and associates have bought as many as 28 housing units worth Rs 1,238 crore in Mumbai. It is perhaps the biggest property deal in India.

In the same month, real estate developer Godrej Properties Ltd acquired Raj Kapoor's Bungalow in Chembur to develop a premium residential project. Last week, realty major DLF Ltd also announced that it has sold 1,137 luxury apartments, priced Rs 7 crore and above, for over Rs 8,000 crore within 3 days, in its housing project in Gurugram.