Promoters of pharma firm buy bungalow in Mumbai for ₹101 crore

Promoters of Macleods Pharmaceuticals have bought a bungalow in Mumbai spread across an area of 3604 sq ft, located in JVPD Scheme in Vile Parle

Promoters of a pharmaceutical manufacturing firm, Macleods Pharmaceuticals - Girdhari Lal Bawri, Rajendra Agarwal and Banwari Lal Bawri - have purchased a bungalow in Juhu, Mumbai, for ₹101 crore, documents accessed by IndexTap.com showed.

Promoters of a pharmaceutical manufacturing firm, Macleods Pharmaceuticals, Girdhari Lal Bawri, Rajendra Agarwal and Banwari Lal Bawri, have purchased a bungalow in Juhu, Mumbai, for ₹101 crore. (Picture for representational purposes only) (AFP)

They have bought the ground plus one bungalow spread across an area of 3604 sq ft, located in the housing society known as JVPD Scheme in Vile Parle, Mumbai, the deal of assignment cum sale showed.

The buyers have paid a stamp duty of ₹6.06 crore, it showed.

The deal was registered on February 16, 2024, the documents showed.

There was no response from the buyers.

The three brothers set up Macleods Pharmaceuticals in 1986 to make anti-TB medicines. Their firm produces generics for a range of diseases including asthma, diabetes and osteoporosis. Agarwal, the youngest sibling, is a qualified doctor and the company's managing director.

In 2022, Agarwal Holdings Pvt Ltd had bought a 75,000 sq ft plot in Mumbai for ₹332.8 crore. The plot is located in Juhu, Santacruz West, Mumbai. The directors of Agarwal Holdings are Girdharilal Bawri, Banwarilal Bawri and Rajendra Agarwal. In 2021, the company had bought a bungalow in the same locality for almost ₹85 crore.

In other bungalow deals in Mumbai, actor-producer John Abraham had also purchased a 13,138 sq ft bungalow in Mumbai's Khar area for ₹70.83 crore. The property has potential for redevelopment.

Last year, actor Amitabh Bachchan and his wife, Jaya Bachchan, have bequeathed Pratiksha bungalow, the first of the five family homes in Juhu, to their 49-year-old daughter Shweta Nanda as a gift.

Last year, Samar Chauhan, Executive Director of Parle Products Pvt Ltd, had purchased a property for ₹78 crore in Juhu, Mumbai. He had bought the leasehold land along with the building. The property is located on Juhu Tara Road, Vile Parle (West), Mumbai. It is part of the Theosophical Cooperative Housing Society Ltd.

In 2022, Feat Properties Pvt Ltd, a subsidiary of K Raheja Corp, had purchased a 3,278-sq m bungalow in Mumbai’s Juhu area for ₹182.75 crore from Bollywood director and producer BR Chopra’s family.

In 2021, in one of the biggest property deals in Mumbai, Radhakishan Damani and his brother Gopikishan Damani, had bought an independent house in Mumbai’s posh Malabar Hill area for ₹1,001 crore. The registration took place on March 31, 2021, the last day that the reduced 3 percent stamp duty was applicable on the sale of housing units in Maharashtra.