Meet JP Taparia—man who bought India's costliest apartment worth $44.8 million? Know about his life & career

We all know Mumbai is an expensive city, widely known for its real estate. Several billionaires opt to either live or invest in properties in Mumbai's poshest areas. Recently, the family of Indian industrialistJP Taparia, founder of contraceptive maker Famy Care bought one of the most expensive apartments in India. The family paid Rs 369 crores ($44.8 million) for a triplex apartment in South Mumbai's Malabar Hill. The lavish apartment on the 26th, 27th and 28th floor is located on Walkeshwar road, opposite the governor's estate, touching both the Arabian Sea and Hanging Gardens. The deal price for per square is Rs 36 lakh ($43,803). Yes, you read that right! Here's everything you need to know about the industrialist and his recent purchase.

Until 1990, JP Taparia was involved in his extended family's handtool and engineering business, after which he started his own business with Famy Care, which now has grown to be one of the world's leading manufacturing firms for female oral contraceptives.

Taparias, the founder of the contraceptive firm Famy Care, are alsothe biggest 'Copper' producer globally.

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According to Fores, a total of 15 per cent of women across the globe who are on oral contraceptive pills consume Famy Care products.

South Mumbai's Malabar Hills is one of the most expensive areas in India. The purchase by Taparias is accounted to be one of the costliest ones. Spread over 27,160 square feet, the apartment has been bought from Lodha Group, a renowned realty developer.

As per media reports, JP Taparia had a paid stamp duty of Rs 19.07 crore ($2.3 million) for the lavish property.

Previously, Bajaj Auto's chairman Neeraj Bajaj bought a penthouse for Rs 252.50 crore ($30.6 million). While Madhav Goel of Tufropers purchased an apartment in a building for 121 crores ($14.7 million).