The family of the late Bollywood actor Dilip Kumar has recently reached an agreement with realty developer Ashar Group. This collaboration aims to develop a luxury residential project on the Pali Hill plot, which was previously the location of the legendary actor's bungalow. In addition to the residential project, a museum dedicated to Dilip Kumar's life and significant milestones will also be established.
According to reports, situated in the Bandra suburb of Mumbai, this new project will cover an expansive area of nearly half an acre. Spanning across 11 floors, the proposed project will have a total construction area of 1.75 lakh square feet. The museum, showcasing Dilip Kumar's legacy, will be located on the ground floor of the tower, featuring a separate entrance for easy access.
According to a report in The Times of India, the construction work has already commenced, and the estimated completion date, as per the Real Estate Regulatory Authority (RERA) registration, is set for 2027. However, Ajay Ashar, CMD of Ashar Group, expressed confidence in completing the project within the
next two years, surpassing the given timeline.
The real estate firm anticipates that the proposed project will generate substantial revenue, amounting to approximately Rs 900 crore. Notably, the Pali Hill plot has remained in the spotlight for over five years due to a defamation notice issued by Dilip Kumar's wife, Saira Banu, against another developer. Banu accused this developer of attempting to wrongfully acquire the land parcel through the forging of documents.
However, the Ashar Group has resolved the legal complications surrounding the plot. Consent terms have been filed in the arbitration matter, assuring a clear and undisturbed path for the upcoming residential project.
In conclusion, with the collaboration between Dilip Kumar's family and Ashar Group, a remarkable luxury residential project is underway on the iconic Pali Hill plot. Alongside the exquisite residences, a museum honoring the actor's extraordinary life will be constructed. The project's completion is expected sooner than the registered date, promising a magnificent addition to Mumbai's landscape.