Veteran actor Dilip Kumar's Pali Hill bungalow will now be rebuilt into a multi-storeyed building, which will have his apartment along with a museum dedicated to his glorious Bollywood career.
It was only last month that the Supreme Court had ruled in favor of the veteran actor in a dispute between him and Prajita Developers Pvt. Ltd. The property will now be developed by M/s Black Rock which is run by restaurateur Kishor Bajaj and his brother-in-law Ajay Ashar.
Abiding the SC's ruling, Black Rock has paid Prajita Developers Rs 20 crore. According to the new deal, Dilip Kumar will own 50 percent of the building after the redevelopment.
Confirming the news to a leading tabloid, Banu said: "Dilip Sahab is the owner of the property and of course the developers will have their share in the redeveloped property, be it their residences or anything else they wish for."
An ecstatic Ashar said, "This agreement is more an exercise aimed at reducing the pain and agony that Dilip Kumar Sahab and Sairajee have been through over this property."
The property was under dispute after the developers failed to construct what they had promised for several years.