Lloyds’ Promoter Family Buys Altamount Road Apartments for ₹227 Cr


Ravi Agarwal, a member of the Lloyds Group promoters, along with his family, has purchased six luxurious sea-view apartments, including a seven-bedroom duplex, in the Kalpataru Prive tower on Altamount Road in South Mumbai for over ₹227 crore.

The family has acquired approximately 18,000 sq ft of space, spanning the 18th to 23rd floors of this under-construction premium tower, which is valued at ₹1.27 lakh per sq ft. This transaction ranks among the most expensive and largest residential deals in India this year.

The buyers incurred a stamp duty of nearly ₹13.29 crore for the registration of these transactions that occurred on July 11. Additionally, they will have exclusive access to 24 parking slots in the tower, according to registration documents sourced from Zapkey.com.

This deal solidifies Altamount Road’s reputation as one of India’s most exclusive and expensive residential markets, long associated with the country’s wealthiest industrialists and business leaders.

Altamount Road has historically been home to industrial and corporate families, top bureaucrats, elite families, and international consulates, earning it the moniker “Billionaires’ Row.”

Beyond his role within the Lloyds Group, Ravi Agarwal also serves as Chairman of Lloyd Realty, the group’s real estate division with diverse interests in steel, manufacturing, and infrastructure.

RealtyDailyNews’s inquiries directed to both the Lloyds Group and the project’s developer, Kalpataru, remained unanswered as of the publication time.

While this transaction is among the largest this year, Mumbai has seen even larger record-breaking residential deals in 2025, including the ₹639 crore purchase of a Worli duplex by Leena Gandhi Tewari of USV Pharmaceuticals and Uday Kotak’s acquisition of sea-facing apartments for over ₹400 crore recently.

Mumbai continues to lead the nation’s real estate market with a string of record-setting transactions. This trend is supported by persistent demand from buyers despite ongoing increases in property values and the government’s recent hike in ready reckoner (RR) rates effective April 1.

South and Central Mumbai — home to India’s most expensive residences — have been at the forefront of this boom, drawing numerous high-value transactions from industrialists, top corporate executives, film stars, and sports icons in recent years.

  • Published On Jul 18, 2025 at 07:00 PM IST

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