Mumbai’s luxury housing market closed 2025 on a high note with the sale of an ultra-luxury penthouse at Evergreen, Perry Road, Bandra, for ₹62.81 crore, reaffirming Bandra’s position as one of the city’s most sought-after premium residential micro-markets.
The transaction was executed and registered on December 15, 2025, making it one of the most significant high-value residential deals in Bandra during the year. The property was developed by S Raheja, a name synonymous with premium residential developments in Mumbai.
A “Villa in the Sky” in One of Mumbai’s Prime Addresses
Often described as a “villa in the sky,” the penthouse stands out for its expansive private terraces, double-height living spaces, and a level of scale and privacy that remains rare in Mumbai’s dense urban fabric. Such large-format homes are increasingly scarce, particularly in established neighbourhoods like Bandra.
The residence features a RERA carpet area of 4,583 sq. ft., translating to an effective price of approximately ₹1.37 lakh per sq. ft. This places the transaction among the top-tier residential price points recorded in the Bandra luxury housing market.
Prominent Business Family Behind the Acquisition
The penthouse has been acquired by members of the Singh family, founders of Alkem Laboratories Ltd., highlighting a growing preference among India’s leading business families for bespoke, low-density residences in legacy locations. For ultra-high-net-worth buyers, Bandra continues to offer a rare combination of prestige, connectivity, lifestyle amenities, and long-term value.
Bandra’s Luxury Market Shows Continued Resilience
As Mumbai’s residential real estate market moves into 2026, the Evergreen penthouse transaction underscores the resilience of the luxury housing segment, particularly for one-of-a-kind homes that offer exclusivity, generous living spaces, and prime locations.
Industry observers note that while overall market activity remains driven by end-users, trophy assets in established neighbourhoods continue to attract discerning buyers willing to pay a premium for rarity and enduring appeal.
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