Let that number settle in for a moment: ₹18.06 crore, not to own – just to live there.

The Deal, Year by Year

The lease is structured across a 60-month tenure with an annual escalation of 5%, a standard clause in high-value commercial and luxury residential leases. In the first year, the monthly rent is ₹27,50,000, totalling ₹3,30,00,000 annually. By the second year, it rises to ₹28,87,500 per month (₹3,46,50,000 annually). The third year sees it climb further to ₹30,31,875 per month (₹3,63,82,500 annually). The fourth year brings it to ₹31,83,469 per month, aggregating to ₹3,82,01,628 for the year.

The fifth and final year carries a nuance: the rent for the first eleven months stands at ₹33,42,642 per month, while the last month is charged at half that figure – ₹16,71,321 – a provision likely reflecting a pre-agreed exit or grace clause. The total rent for the fifth year thus comes to ₹3,84,40,383.

Across the entire tenure, the aggregate outgo is ₹18,06,74,511, which works out to an average monthly rent of ₹30,11,241.85. For a single residential flat.

The Address: Where Location Commands a Premium Like Nowhere Else

Three Sixty West in Worli is not just a building – it is a statement. Situated in one of South Mumbai’s most aspirational pockets, it commands views of the Arabian Sea and the iconic Bandra-Worli Sea Link. The 22nd floor of the B Tower, with a sprawling 6,831 sq ft of carpet area, is the kind of home that exists in a category entirely its own.

The broader locality reflects that premium. Property consultants and market trackers consistently place the average per sq ft price in this belt between ₹70,000 and ₹83,000. To put that in perspective: just a short distance away in Lower Parel – barely a kilometre and a half from Three Sixty West – a flat measuring 1,265 sq ft sold recently for ₹7.44 crore. That sale, modest by the standards of this neighbourhood, underscores the extraordinary value density of this corridor.

At ₹70,000 per sq ft, the total rent of ₹18.06 crore would theoretically purchase roughly 2,580 sq ft of property in the same locality. At the upper end of ₹83,000 per sq ft, you’d still land approximately 2,176 sq ft – easily a spacious 3 BHK in any well-regarded project in the area. In short, five years of rent money here could have bought a home in the same neighbourhood.

The ₹18 Crore Question: What Would It Buy You Elsewhere in Mumbai?

This is where the numbers become truly arresting – and where the geography of Mumbai’s real estate market reveals its full, staggering range.

Take ₹18.06 crore and travel north along the Western Express Highway, and the world transforms dramatically.

In Bandra, Mumbai’s perennial favourite for the affluent and the aspirational, this budget would comfortably secure a premium 3 BHK or even a 4 BHK luxury apartment in a project with sea views, brand-name developers, and the kind of lifestyle infrastructure – clubs, concierge, rooftop pools – that defines contemporary luxury living.

Move further north to Andheri, and the same money would stretch into a massive 4 BHK to 5 BHK duplex penthouse. These are not entry-level addresses – Andheri’s western suburbs, particularly along the JVLR and Lokhandwala stretch, have seen a quiet but steady rise in luxury inventory, and ₹18 crore would place a buyer at the very top of that market.

Cross over to the eastern suburbs – Ghatkopar – and this budget enters rarified territory. A 5 BHK ultra-luxury customised apartment or a grand duplex, finished to the highest specifications, becomes a realistic proposition. The eastern corridor has quietly emerged as a serious luxury destination over the last decade, and ₹18 crore here would buy something genuinely exceptional.

Travel further to Mulund, and the scale expands further still. Here, this sum could acquire a grand sky-villa, a multi-level penthouse, or even two to three combined luxury apartments in a premium integrated township – a portfolio within a single budget.

And at the far northern end of the city, in Borivali, ₹18.06 crore would fetch an ultra-luxury penthouse – likely the crown unit of any premium residential tower in the micro-market, offering panoramic views, private terraces, and every conceivable amenity.

Rent vs. Own: The Calculation That Haunts Every Tenant

The instinctive question, of course, is: why rent?

For occupants of ultra-luxury properties, the answer is rarely about affordability in the traditional sense. Corporate leases, relocation requirements, portfolio diversification strategies, or simply the preference for flexibility over commitment – these are the considerations that drive such arrangements. The tenants in this case, One SGG Ventures LLP, are a business entity, suggesting this is likely a corporate lease, perhaps for the use of a senior executive or as a business-related residence.

But the arithmetic still demands attention. Over five years, ₹18.06 crore exits the tenant’s books entirely – with nothing to show in terms of asset ownership. In the same period, a comparable outlay deployed as equity in a property purchase would have built ownership in an asset that, in Mumbai’s luxury segment, has historically only appreciated.

A Mirror Held to Mumbai

What this single lease agreement reflects is not just one company’s housing decision. It is a mirror held up to the extraordinary, often bewildering, economics of Mumbai’s real estate market.

At one end sits Worli – where an 6,831 sq ft apartment commands ₹30 lakh per month in rent, where Lower Parel sees 1,265 sq ft change hands for ₹7.44 crore, and where the barrier to entry, whether to rent or to buy, is unlike almost anywhere else in the country.

At the other end sits the rest of Mumbai – Bandra, Andheri, Ghatkopar, Mulund, Borivali, where the same ₹18 crore buys ownership, legacy, and in many cases, something far larger and arguably more liveable.

The Worli deal is not an anomaly. It is the market working exactly as it has been designed to rewarding location, scarcity, and prestige with numbers that leave the rest of the country slack-jawed. For those who can afford it, it is simply the price of an address. For everyone else, it is a reminder that in Mumbai, the most expensive square footage in the world is never very far away.

Also Read: Worli Flat Sold For ₹168.72 crore

The post ₹18.06 Crore in Rent for 5 Years: What a Worli Luxury Deal Tells Us About Mumbai’s Market appeared first on Square Feat India.

Versatile actor Sanjay Mishra, known for films like Masaan, Aankhon Dekhi and Vadh, has bought a 1904 sq. ft. luxury sea-view apartment at Raheja Exotica, Versova Island, for ₹5.28 crore (all-inclusive). With this, he joins a growing list of celebrities choosing this project as their coastal retreat.

Recent buyers include Jubin Nautiyal, while residents already include Pankaj Tripathi, Archana Puran Singh, Vikrant Massey, and Gurudas Maan. For homebuyers, this trend signals how Raheja Exotica has become a cultural and real estate hotspot.

Why Raheja Exotica Stands Out

• Location advantage: Situated on Versova Island, offering sea views and serenity away from the city buzz.
• Unique amenities: Mumbai’s first Floating Club, suspended 350 feet above ground, plus a 6.23-acre clubhouse designed by HBA (Hirsch Bedner Associates).
• Lifestyle factor: 60+ world-class amenities, making it a self-sustained luxury community.

Property Price Trends (Raheja Exotica)

Source: Market trackers

That’s almost 80% price growth in 2 years, showing why celebrities and investors alike are betting on this project.

Infrastructure Boost on the Horizon

The upcoming Madh–Versova Cable Bridge will drastically improve connectivity between South Mumbai and the western suburbs. For today’s homebuyers, this means:

• Faster commute
• Higher demand for the area
• Stronger appreciation potential

What This Means for You as a Homebuyer

• Celebrity effect: When stars invest, it boosts the project’s brand value and signals trust.
• Lifestyle promise: For those who can afford luxury, Raheja Exotica offers not just a home, but a coastal lifestyle.
• Investment value: The project has already seen sharp appreciation; with infrastructure projects in pipeline, returns are likely to grow further.

Also Read: Airport Micro-Markets See Steepest Property Price Surge

The post Sanjay Mishra Buys ₹5.28 Cr Sea View Apartment: What It Means for Mumbai Homebuyers appeared first on Square Feat India.

The project will include four 44-storey towers and a signature 60-storey tower, alongside a dedicated retail component, covering an estimated 12 lakh sq. ft. of RERA carpet area. Residences will include 2, 3, and 4 BHK apartments, ranging from 800 to 1,600 sq. ft., designed to meet the evolving needs of premium homebuyers.

Speaking on the development, Mr. Ashwin Sheth, Chairman and Managing Director of Ashwin Sheth Group, said:

“This strategic acquisition from MHADA represents a milestone in our expansion strategy. Goregaon West has emerged as one of Mumbai’s most promising residential destinations, and securing this prime 4.05-acre parcel positions us to deliver a world-class development that will set new standards for premium living in the western suburbs.”

Strategic Location and Market Relevance

Located in Siddharth Nagar, the project enjoys excellent connectivity to Mumbai’s key commercial zones, entertainment hubs, and infrastructure networks including the Western Express Highway, Link Road, and metro lines. The area is witnessing rapid appreciation in property values, driven by infrastructure upgrades and increasing demand from both end-users and investors.

This development reinforces Ashwin Sheth Group’s growing footprint in Mumbai and highlights its focus on the premium residential segment. With luxury housing in high demand across the city’s western corridor, this project is poised to become a landmark in Goregaon West.

Also Read: Ashwin Sheth Group Files FIR Against Reputed Developer Alleging ₹700 Crore Fraud

The post Ashwin Sheth Group Acquires MHADA Land in Goregaon West for ₹3,800 Cr Premium Residential Project appeared first on Square Feat India.

A Strategic Investment in Andheri West

The apartments are located in DLH Enclave, a residential project in Oshiwara, Andheri West. This area is celebrated for its strategic positioning, bridging Mumbai’s crucial business districts and vibrant entertainment zones. Andheri West boasts excellent connectivity through major arteries like the Western Express Highway, Link Road, SV Road, and the Versova-Andheri-Ghatkopar Metro line, making it a highly sought-after location.

Over the years, Andheri West has transformed into a dynamic commercial and residential hub. It features a diverse blend of modern office complexes, co-working spaces, high-end retail outlets, entertainment centers, and premium residential developments. Its robust infrastructure and close proximity to major commercial hubs make it a preferred choice for businesses, high-net-worth individuals, celebrities, and working professionals alike.

Details of the High-Value Acquisition

Property registration documents, reviewed by the online property portal Square Yards on the website of the Inspector General of Registration (IGR) – https://igrmaharashtra.gov.in, reveal the specifics of Dube’s purchase. Both apartments are situated on adjacent floors within the DLH Enclave project.

Cumulatively, the two purchased apartments offer a substantial carpet area of 4,200 sq. ft. (approximately 390 sq. m.). Adding to the expansive living space is a generous terrace with a carpet area of 3,800 sq. ft. (approximately 353 sq. m.). The total built-up area for both apartments combined measures an impressive 892.19 sq. m. (approximately 9,603 sq. ft.).

Transaction Specifics

The acquisition was a primary purchase directly from Dev Land and Housing Limited. The deal includes three dedicated car parking spaces, a significant amenity in a bustling city like Mumbai. The transaction attracted a total stamp duty of ₹1.65 crore and registration charges amounting to ₹30,000, reflecting the substantial value of the property.

Shivam Dube, born on June 25, 1993, has had a remarkable career in cricket, representing Mumbai in domestic cricket and playing a crucial role for the Chennai Super Kings. He made his international debut for India in November 2019 and was a vital part of the squad that secured the 2024 T20 World Cup, further cementing his status as a prominent figure in Indian cricket. This latest property investment marks another significant milestone for the accomplished cricketer.

Also Read: Zaheer Khan, Sagarika Ghatge, and Shivjeet Ghatge Purchase Luxury Apartment in Mumbai for Rs 11 Crore

The post Indian Cricketer Shivam Dube Secures Luxury Apartments in Mumbai for ₹27.50 Crore appeared first on Square Feat India.

The renewed lease, registered in April 2025, covers an apartment in the Raj Mahal residential project, offering a carpet area of 258.48 sq. meters (around 2,781.83 sq. feet). The agreement includes exclusive access to three car parking spaces, a security deposit of Rs. 1.75 crore, and required stamp duty and registration charges of Rs. 1.69 lakh and Rs. 1,000 respectively.

As per the agreement terms, the monthly rent is set at Rs. 17.01 lakh for the first two years and will rise to Rs. 17.86 lakh in the third year. The lease renewal follows a previous agreement signed in July 2021, where the actor initially paid a rent of Rs. 8 lakh per month.

Juhu continues to be a preferred address for Bollywood celebrities, known for its beachside charm, premium restaurants, and excellent connectivity to Mumbai’s commercial hubs. Other celebrities like Varun Dhawan, Janhvi Kapoor, Kartik Aaryan, and Shakti Kapoor also own properties in the area.

Vicky Kaushal, a National Award-winning actor, has built a stellar career with acclaimed performances in films such as Uri: The Surgical Strike, Masaan, Raazi, Sanju, and Sardar Udham, cementing his position as one of Bollywood’s leading stars.

Also Read: Virat and Anushka rent Juhu home from a King

The post Vicky Kaushal Renews Juhu Apartment Lease, Will Pay Rs. 6.2 Crore Over Three Years appeared first on Square Feat India.

In a remarkable development reflecting the growth of India’s ultra-luxury real estate sector, 49 ultra-luxury homes priced at ₹ 100 crore or more have been sold across the country in the past three years. The total investment in these high-end properties has touched ₹ 7,500 crore, according to data released by JLL Research. Notably, half of this amount—₹ 3,652 crore—was transacted in 2024 alone, showcasing a sharp rise in luxury property transactions.

Mumbai Takes the Lead

Among the cities leading the ultra-luxury housing market, Mumbai stands out, accounting for 69% of the total sales in this category. This is followed by Delhi NCR, where iconic neighborhoods such as the Lutyens Bungalow Zone (LBZ) and high-rise apartments on Golf Course Road in Gurugram have seen notable transactions. In Mumbai, prime locations like Malabar Hill and Worli dominate the list of multi-crore deals.

Apartments Surpass Bungalows in the Luxury Segment

Interestingly, apartments have taken the lead in the ultra-luxury category, making up 65% of the transactions compared to 35% for bungalows. Most of these deals fall within the price range of ₹ 100-200 crore, though a select few properties have commanded prices upwards of ₹ 200-500 crore. Typically, these apartments range from 10,000 to 16,000 square feet in super built-up area, featuring world-class amenities and exclusive, resort-like experiences.

Rising Demand Among HNWIs and UHNWIs

The ultra-luxury segment has seen a surge in demand from High Net Worth Individuals (HNWIs) and Ultra High Net Worth Individuals (UHNWIs), particularly those holding C-suite positions in business conglomerates, celebrities, and startup founders. The rise in the number of billionaires in India, especially during 2024, has played a crucial role in propelling this demand.

Outlook for the Ultra Luxury Market

Experts predict that the demand for ultra-luxury homes will continue to be strong, driven by an increase in the number of wealthy individuals and the entry of more realty players into the market. With the momentum already evident in the first two months of 2025, where four ultra-luxury homes worth ₹ 850 crore were sold, the sector’s future looks promising.

Also Read: Luxury Real Estate set to Rebound in 2023

The post 49 Homes Above ₹ 100 Crore Sold for ₹ 7,500 Crore in Three Years appeared first on Square Feat India.

Mumbai, April 01, 2025: Godrej Properties Ltd. (GPL), one of India’s leading real estate developers, has achieved a major milestone with the successful launch of its luxury residential project, Godrej Riverine, located in Sector 44, Noida. The company has sold over 275 homes worth more than ₹2,000 crore within a short period, marking its third consecutive ₹2,000+ crore launch in Noida.

Godrej Riverine, launched in March 2025, spans approximately 6.46 acres and features luxury residential apartments in various configurations. Strategically situated in Sector 44, one of Noida’s prime micro-markets, the project boasts well-planned infrastructure, wide roads, and excellent connectivity to Delhi, making it a highly desirable location for homebuyers.

A Record-Breaking Series of Launches

Godrej Properties continues its strong momentum in Noida with Godrej Riverine following the success of its previous launches. The company had earlier sold inventory worth over ₹2,000 crore at Godrej Jardinia, Sector 146, Noida, in Q1 FY25, and Godrej Tropical Isle, Sector 146, Noida, in Q2 FY24.

Expressing his gratitude, Gaurav Pandey, MD & CEO of Godrej Properties, said, “We are delighted with the overwhelming response to our luxury project, Godrej Riverine, in Noida. We extend our sincere gratitude to our customers and all stakeholders for their trust and confidence in Godrej Properties. We remain committed to delivering an exceptional living experience at this development. Noida is a key market for us, and we look forward to further strengthening our presence in the region in the years ahead.”

Commitment to Sustainability and Excellence

Godrej Properties has consistently maintained a strong focus on sustainable development. The company, recognized as India’s largest developer by residential sales value in FY 2024, adheres to the Godrej Group’s philosophy of innovation, sustainability, and excellence. All developments by Godrej Properties are certified green buildings, underscoring the company’s commitment to eco-friendly practices.

With numerous accolades, including Developer of the Year at the GRI India Awards 2024 and The Economic Times Best Real Estate Brand 2018, Godrej Properties continues to set benchmarks in the Indian real estate industry.

Also Read: Godrej Properties enters Golf Course Road Extension in Gurugram

The post Godrej Properties Sells Homes Worth Over ₹2,000 Crore at Godrej Riverine Launch in Noida appeared first on Square Feat India.

The property, situated in the upscale Kohinoor Altissimo residential project developed by Kohinoor CTNL Infrastructure Company Pvt Ltd, boasts a spacious built-up area of 184.42 sq. m. (1,985.04 sq. ft.) and a carpet area of 1,803.94 sq. ft. (167.55 sq. m.). The luxurious apartment also includes two car parking spaces.

According to the property registration documents available on the website of the Inspector General of Registration (IGR) Maharashtra, the deal incurred a security deposit of ₹27.16 lakh and registration charges amounting to ₹30,000.

Prime Location and Connectivity

Dadar West, one of Mumbai’s most sought-after residential localities, is renowned for its strategic connectivity and well-established infrastructure. It serves as a key transit hub, offering seamless rail and road connectivity. The area connects both Western and Central railway lines and is situated near major highways like the Eastern and Western Express Highways. Additionally, the locality is in proximity to prime destinations such as Shivaji Park, Prabhadevi, Matunga, and Worli, making it a preferred choice among homebuyers and investors.

Gauri Khan’s Real Estate Investment Journey

The Kohinoor Altissimo property was originally purchased by Gauri Khan in August 2022 for ₹8.5 crore. The recent sale at ₹11.61 crore highlights a robust return on investment, reflecting the high demand and escalating property values in Dadar West.

About Gauri Khan

Gauri Khan, apart from being the wife of Bollywood icon Shah Rukh Khan, is a celebrated interior designer and entrepreneur. She has made a mark not only in the design world but also in the entertainment industry as the co-founder of Red Chillies Entertainment. Known for her signature luxury designs under the label Gauri Khan Designs, she has worked with high-profile clients and curated lavish interiors. Her contributions to both film and design have earned her several accolades, including recognition in Forbes India’s list of powerful women.

Luxury Real Estate Trends

The impressive appreciation in Gauri Khan’s Dadar West property indicates a continued upward trend in Mumbai’s luxury real estate market. The area’s premium connectivity and elite residential projects continue to attract affluent buyers and investors, contributing to the rising property prices.

Conclusion

This successful transaction underscores the growing value of strategically located luxury properties in Mumbai. Gauri Khan’s profitable sale not only highlights her acumen as a real estate investor but also emphasizes Dadar West’s status as a prime real estate destination.

Also Read: Shah Rukh Khan Seeks Rs 9 Crore Refund from Maharashtra Government for ‘Mannat’ Land

The post Gauri Khan Sells Dadar Apartment for ₹11.61 Crore, For 37% Profit appeared first on Square Feat India.

Prime Location in South Mumbai

Marine Lines is one of South Mumbai’s most prestigious neighborhoods, known for its luxurious residences, commercial hubs, and iconic landmarks like Marine Drive. Offering stunning views of the Arabian Sea, the area is home to a mix of heritage Art Deco buildings and modern skyscrapers. With seamless connectivity via the Western Railway Line, Eastern Express Highway, and the upcoming Metro Line 3, Marine Lines continues to be a prime real estate hotspot for high-net-worth individuals.

Details of the Transaction

According to property registration documents reviewed by Square Yards on the official website of the Inspector General of Registration (IGR) Maharashtra, the transaction was officially registered in January 2025.

• The apartments are located in Prestige Ocean Tower, a newly launched luxury residential project by Prestige Projects Pvt. Ltd.
• The total built-up area of the 10 units is 25,650 sq. ft (~2,383 sq. m).
• Each apartment has a carpet area of 2,482 sq. ft (~230.58 sq. m) and a built-up area of 2,565 sq. ft (~238.3 sq. m).
• The transaction value per unit ranges between ₹19.39 crore and ₹20.54 crore.
• The total stamp duty paid for the purchases amounts to ₹11.96 crore, with each unit incurring a registration fee of ₹30,000.
• The purchase includes 30 car parking spaces, with three allocated to each apartment.

About Prestige Ocean Towers

Prestige Ocean Towers is a premium residential project spread across 2.3 acres. As per RERA records, the project offers 2 and 3 BHK apartments, catering to the ultra-luxury segment. The high-rise tower is designed to provide modern amenities, scenic sea views, and high-end infrastructure, making it a sought-after address in Marine Lines.

Here’s a table summarizing the details of the 10 luxury flats purchased by Hermes Distillery Pvt. Ltd. in Prestige Ocean Tower, Marine Lines:

Total Transaction Details:

• Total Built-up Area: 25,650 sq. ft. (~2,383 sq. m)
• Total Transaction Value: ₹199.34 crore
• Total Stamp Duty Paid: ₹11.96 crore
• Total Registration Fees Paid: ₹3,00,000
• Total Car Parking Spaces: 30

Hermes Distillery: A Leading Beverage Manufacturer

Established in 2008, Hermes Distillery Pvt. Ltd. is a well-known beverage manufacturer based in Belgaum, Karnataka. The company specializes in producing a diverse range of alcoholic beverages, including whisky, vodka, rum, and brandy. Operating from its manufacturing unit on Ankli-Raibag Road in Raibag, Belgaum, Hermes Distillery has built a strong reputation in the liquor industry.

A Growing Trend of Business Investments in Luxury Real Estate

The purchase by Hermes Distillery Pvt. Ltd. highlights the ongoing trend of business conglomerates and high-net-worth individuals investing in Mumbai’s ultra-luxury residential market. With Mumbai’s prime real estate prices continuing to soar, South Mumbai remains a preferred destination for those seeking exclusivity, status, and long-term investment opportunities.

This high-value transaction further cements Marine Lines as a premium real estate hotspot, attracting corporate investors, entrepreneurs, and prominent business figures looking for prime luxury residences in Mumbai.

Also Read: Commercial Real Estate Market in Mumbai

The post Rockdove Whisky Makers Acquire 10 Flats Worth ₹199.34 Crore in South Mumbai appeared first on Square Feat India.

Designed by renowned architect Hafeez Contractor, the tower offers panoramic views of Mumbai’s skyline, including the Queen’s Necklace, Arabian Sea, and Mahalaxmi Racecourse. Located in Tardeo, Avaan Tower 2 spans 6.5 lakh sq. ft. and is projected to generate ₹3000 crore in revenue.

Manan Shah, Managing Director of MICL, described the project as a symbol of “neo-luxury living,” blending innovation, craftsmanship, and world-class amenities. The tower boasts 55+ elite amenities, including an ocean-view infinity pool, UFC gym, private theatre, Hammam bath, and a farmer’s café.

MICL continues to redefine Mumbai’s luxury real estate landscape, with Manan Shah driving the brand’s expansion and global-first experiences. Avaan Tower 2 cements MICL’s position as a leader in ultra-luxury living.

The post MICL Unveils Avaan Tower 2 – India’s Tallest Ultra-Luxury Skyrise appeared first on Square Feat India.