Ashar Group has secured an Occupancy Certificate (OC) for its luxury residential project, The Legend by Ashar, in Pali Hill, Bandra—approximately 20 months ahead of its original RERA-stipulated completion timeline of 2028.
The early certification marks a significant milestone in Mumbai’s high-end redevelopment segment, where project delays remain common. The developer said the accelerated completion reflects execution discipline and adherence to regulatory timelines in one of the city’s most tightly regulated and supply-constrained micro-markets.
Located in Pali Hill, one of Mumbai’s most expensive residential enclaves, the project is built on the site of the former bungalow of late actor Dilip Kumar. The redevelopment transforms the legacy property into a low-density luxury building while retaining references to its historic association.
Launched in 2023, the project introduced ultra-luxury residences starting at approximately 3,200 sq. ft., with initial pricing ranging between ₹1.55 lakh and ₹1.80 lakh per sq. ft. According to the developer, transaction values in 2026 are averaging around ₹1.65 lakh per sq. ft., with a reported penthouse transaction closing at ₹1.81 lakh per sq. ft. The project has recorded sales exceeding ₹500 crore to date, driven largely by high-net-worth individuals and select institutional interest.
The development comprises 19 residences across three configurations, including large-format single-level apartments, duplex units with double-height living spaces, and garden residences exceeding 4,000 sq. ft. The design language incorporates European Art Deco elements, stone cladding, curated art installations, and sculptural references to the site’s historical legacy.
Ajay Ashar, Chairman and Managing Director of Ashar Group, said the early OC underscores the company’s delivery framework. “Timely completion is central to maintaining credibility in the luxury segment. Delivering ahead of schedule reflects the operational discipline behind the project,” he said.
Ayushi Ashar, Director at the firm, added that the development was conceived as a low-density, design-driven alternative to conventional high-rise luxury formats, with an emphasis on craftsmanship and curated common areas.
Market analysts note that Bandra’s Pali Hill continues to command premium valuations due to limited redevelopment opportunities, strong end-user demand, and heritage-linked properties that carry brand value beyond square footage metrics.
With the OC now in place, possession processes are expected to commence, positioning the project among the few luxury redevelopments in Mumbai to achieve completion substantially ahead of regulatory deadlines.
