Mumbai-based Ashar Group on February 13 announced that it has received the Occupancy Certificate (OC) for its luxury project, The Legend, in Mumbai’s Bandra. The project has been developed through the redevelopment of a bungalow owned by Bollywood legend Dilip Kumar.
The company said it secured the OC nearly 20 months ahead of its original RERA-mandated completion deadline of 2028.
This extraordinary achievement underscores Ashar Group’s unwavering commitment to timely delivery, transparency, and trust values that have established the company as a benchmark for excellence in MMR’s competitive luxury real estate market, the company said in a statement.
Also Read: Salman Khan’s brother-in-law Atul Agnihotri’s firm to redevelop 60-year-old Bandra housing society
Dilip Kumar Bungalow redevelopment plans
Dilip Kumar’s bungalow redevelopment project, ‘The Legend,’ will comprises 4 and 5-BHK luxury apartments, including duplex units, and a 2,000-square-foot museum dedicated to the Bollywood legend.
In March 2016, Dilip Kumar entered into a development agreement with Ashar Group, paving the way for this luxury housing project.
“When we began this journey, we knew we were not merely redeveloping a building. We were entrusted with a legacy. Receiving the Occupation certificate 20 months ahead of schedule is a testament to our team’s dedication and our unwavering commitment to this endeavour,” said Ajay Ashar, Chairman and Managing Director, Ashar Group.
Also Read: ₹155 crore sea-view apartment in Mumbai’s Pali Hill”>Dilip Kumar’s bungalow redevelopment: Apco Infratech Pvt Ltd buys ₹155 crore sea-view apartment in Mumbai’s Pali Hill
“At Ashar Group, we believe that true luxury lies not just in exquisite design and premium materials, but in the trust we build with our partners and clients through transparent processes and timely delivery,” Ashar said.
All about the project
According to the company, the project was launched in 2023 at Pali Hill, Bandra, Mumbai.
The Legend by Ashar introduced ultra-luxury residences starting at 3,200sq. ft., with initial pricing in the range of ₹1.55 to ₹1.80 lakh per sq. ft, attracting high-net-worth buyers drawn to its rare heritage provenance and exclusivity associated with the legacy of the late Dilip Kumar. Since launch, the project has witnessed strong market momentum, with values appreciating significantly by 2026, the company said in a statement.
The company said that transactions are now averaging approximately ₹1.65 lakh per sq. ft., with the penthouse deal touching ₹1.81 lakh per sq. ft., underscoring sustained demand amid limited inventory. The ₹500 crore in sales”>project has recorded over ₹500 crore in sales, supported by growing interest from HNIs and institutional buyers.
Pali Hill’s Bollywood connection
Pali Hill is a premium address where several Bollywood stars and high-net-worth individuals have bought homes. According to local brokers, the per sq ft rate for several luxury housing projects in and around Pali ranges from ₹1.30 lakh to ₹1.50 lakh and above.
Also Read: Lights, camera, construction sites: All about Bollywood actors who have ventured into the real estate business
Besides Dilip Kumar’s bungalow, Pali Hill has been home to several Bollywood stars, such as the late Sunil and Nargis Dutt, the late Rishi Kapoor, Neetu Singh, Gulzar, Imran Khan, Aamir Khan, and Sanjay Dutt.