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.

Suburbs Lead the Transformation

The suburban corridors are dominating the redevelopment wave. Since 2020, 910 housing societies have signed development agreements, unlocking 326.8 acres (1.32 million sq m) of potential land area.

Out of these, Western Suburbs accounted for 633 societies (70%), followed by the Central Suburbs with 234 societies, pushing the suburban contribution to nearly 96% of total agreements.

Estimated Future Supply of New Homes

Note: Supply-side estimates; do not factor in launch velocity, financing, or phasing.

The Western Suburbs, spanning Bandra to Borivali, will absorb the bulk of activity with 73% of total new housing supply, while South Mumbai will see only 416 new units.

Government Revenue Potential

The state exchequer is set to benefit substantially from this wave of redevelopment. Over the next five years, the government is projected to earn:

• ₹6,500 crore from the sale of free-sale components
• ₹7,830 crore from stamp duty
• ₹6,525 crore from GST collections

Small Plots Dominate, Larger Deals Emerging

Redevelopment activity remains largely concentrated in small plots. Over 80% of societies that signed deals since 2020 had a plot size of less than 0.49 acres.

Redevelopment Deals by Plot Size (2020–2025)

Despite the dominance of small societies, the average deal size has been growing steadily, signalling the rise of larger clusters and better land aggregation efforts.

Long Timelines and Risks

Redevelopment remains a long-cycle process, typically stretching 8–11 years from ideation to handover. Projects face risks from changing market cycles, regulatory hurdles, and financing challenges.

Typical Redevelopment Timeline

Market Outlook

Experts caution that redevelopment economics must balance developer sustainability and society expectations. In markets priced below ₹40,000 per sq. ft., developers should share no more than 30–35% of the area with societies. This share may rise to 35–40% in mid-priced zones, and up to 50% in premium locations above ₹75,000 per sq. ft.

Without financial discipline, projects risk stalling, leaving both developers and homeowners exposed.

The Road Ahead

With 910 societies already in motion and a pipeline of over 44,000 new homes, Mumbai’s redevelopment push is poised to define the city’s next housing cycle. The success of this transformation will depend on policy support, sound financial structuring, and timely consensus among stakeholders.

Also Read: Sonu Sood Sells Mahalaxmi Apartment for ₹8.10 Crore

The post Mumbai Redevelopment to Unlock 44,000+ Homes Worth ₹1.3 Trillion by 2030 appeared first on Square Feat India.

According to an FIR registered by the V.P. Road Police Station on August 5, 2025, the accused Abdul Karim Mohammad illegally entered the government-attached property, demolished its structures, sold the scrap, and even entered into a ₹15 crore land deal, while the ED and local police allegedly remained unaware or inactive.

The Background: Iqbal Mirchi and New Roshan Talkies

The property in question, New Roshan Talkies, located at Girgaon, is historically linked to Iqbal Memon alias Iqbal Mirchi, a known associate of Dawood Ibrahim.

In 2020, the ED provisionally attached the property under a money laundering probe. The attachment was confirmed in 2021 by the PMLA Adjudicating Authority.

Despite this, the ED did not take physical possession until December 4, 2024, following a November 2024 order by the PMLA Appellate Tribunal.

The Breach: What the Accused Did

According to the FIR:

• In July 2023, Abdul Karim Mohammad executed a one-sided transfer deed, claiming to be the owner of the property — without any legal title or proof of payment.
• Between September and October 2024, he demolished existing structures on the property, knowing it was attached under PMLA.
• In November 2023, he entered into a sale agreement with Govind Builders, valuing the land at ₹15 crore, and accepted a token payment of ₹99 lakh.
• He also sold building scrap and debris for ₹5 lakh in cash to a local dealer.
• All of this was done before ED physically took control — but well after the property was legally attached and declared government-controlled.

The Cover-Up: Fake Documents & No Proof

The FIR, lodged by an ED officer, notes that Abdul Karim:

• Failed to produce any documentary proof of having paid ₹5.4 lakh in 1982 for the property as he claimed.
• Did not notify or contact legal heirs of Iqbal Mirchi or the original sellers.
• Used forged narratives to mislead buyers and carried out transactions that are legally null and void under PMLA provisions.

Even more damning, Junaid Iqbal Memon, son of Iqbal Mirchi, had to approach the PMLA Appellate Tribunal in November 2024 to inform them about the illegal encroachment and demolition. The tribunal then ordered the ED to take possession — months after the property was already damaged and dealt.

The Real Question: Where Were ED and Police?

Despite the property being a high-value asset linked to international crime networks, and under active PMLA proceedings, neither the Enforcement Directorate nor the Mumbai Police seem to have monitored, guarded, or physically secured the property for over three years after attachment.

How did an accused freely enter and demolish a government-seized asset in South Mumbai?
Why was there no surveillance, police protection, or court-enforced monitoring of the land?
Why did it take almost a year — and a legal plea by the underworld don’s family — for the authorities to act?

These are questions that remain unanswered even as a formal investigation begins.

Legal Action So Far

The FIR has invoked several serious provisions of the Bharatiya Nyaya Sanhita (BNS), 2023, including:

• Section 329(3) – Destruction of property under attachment
• Section 318(4), 324(3), 324(5) – Cheating and criminal misrepresentation
• Section 223(b) – Criminal conspiracy

The accused faces prosecution, and further arrests or property freezes are expected.

A Systemic Failure?

The case underscores deep flaws in the enforcement architecture. Despite legal tools, court orders, and central agency oversight, the gap between law on paper and action on ground allowed a high-value, crime-linked property to be misused.

When agencies fail to act on their own attachments, what message does it send to encroachers and land mafia?

As the investigation unfolds, this case may become a test for the ED’s credibility and the Mumbai Police’s preparedness in protecting sensitive government-seized properties.

Also Read: Sanjay Raut’s Property Attached by ED

The post Govt Seizes, Accused Sells: How ED-Attached Iqbal Mirchi Property Was Illegally Demolished & Sold While Authorities Looked Away appeared first on Square Feat India.

A Historic Landmark Changes Hands

Laxmi Nivas has a rich legacy, having provided shelter to key leaders of the Quit India Movement, including Ram Manohar Lohia, Jaiprakash Narayan, Achyut Patwardhan, and Aruna Asaf Ali between 1942 and 1945. It was also a crucial broadcasting hub for Netaji Subhash Chandra Bose’s Azad Hind Radio during this period.

The Kapadia family, which had purchased the bungalow from a Parsi family for ₹1.20 lakh in 1917, was the seller in this transaction. The property spans 2,221 sq. yards (1,857.02 sq. meters), with a built-up area of approximately 19,891.87 sq. ft. It also holds a redevelopment potential of 45,000 sq. ft., making it a prime real estate asset in South Mumbai.

The sale was executed through a transfer deed on February 28, 2025, as per property registration data accessed via Zapkey.

Mumbai’s Billionaire Property Boom

Laxmi Nivas is the latest addition to a series of mega real estate deals involving India’s top business families:

• Uday Kotak and his family bought 12 sea-facing apartments in Shiv Sagar Building, Worli Sea Face, for ₹202 crore.
• In 2024, Rekha Jhunjhunwala, widow of stock market veteran Rakesh Jhunjhunwala, made headlines for buying out almost all the units in a South Mumbai residential building to protect the Arabian Sea view from her Malabar Hill home.
• In 2023, D’Mart founder Radhakrishna Damani’s family and associates made one of the biggest property acquisitions in India, purchasing 28 housing units in Worli worth ₹1,238 crore.

South Mumbai’s Ultra-Luxury Real Estate in Demand

With prime locations like Malabar Hill and Worli witnessing record-breaking transactions, Mumbai continues to be India’s most expensive real estate market. The sale of Laxmi Nivas further reinforces the trend of business tycoons investing heavily in premium properties, whether for personal residences or redevelopment.

As Mumbai’s skyline evolves, the future of Laxmi Nivas remains uncertain. Whether it is preserved as a historic landmark or transformed into a modern luxury development, its legacy as a key site in India’s independence movement remains indelible.

Also Read: JSW signs MOU to restore and conserve the iconic David Sassoon Library & Reading Room in Mumbai

The post Historic Laxmi Nivas Bungalow in Malabar Hill Sold for ₹276 Crore 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.

Rising Demand for Smaller Luxury Homes

Real estate analysts say the demand for smaller luxury apartments in premium locations is being fueled by young professionals, small business owners, and nuclear families looking for high-end living without the space requirements of larger homes.

“Buyers today are prioritizing location, design, and amenities over size. The need for well-connected luxury residencesis growing, particularly in central locations like Dadar and Shivaji Park,” said a property consultant tracking South Mumbai’s residential market.

Viyaara Realty’s Altiora project is expected to be one of the first in the city to offer 1 and 2 BHK residences with a 10.5 ft floor-to-floor height, a feature usually found in 4 and 5 BHK apartments.

Project Details and Market Positioning

The 85,000 sq. ft. project will include 1 BHK units (445 sq. ft.) and 2 BHK units (650 & 720 sq. ft.), with pricing ranging from ₹2 crore to ₹4 crore. The residences will feature views of the western waterfront and Eastern Bay (Nava Sheva), along with amenities such as a gym, multipurpose hall, and designated parking spaces.

“Dadar and Shivaji Park remain some of the most sought-after residential areas in Mumbai due to their connectivity and social infrastructure. With transport networks like the Worli Sea Link and the upcoming Mumbai Coastal Road, access to key business districts has improved significantly,” said Manoj Paliwal, Director, Viyaara Realty.

Shifting Trends in Mumbai’s High-End Housing Market

Luxury housing in Mumbai has traditionally been associated with spacious 4 and 5 BHK apartments, but developers are now focusing on smaller premium homes in prime locations.

“Affordability within luxury housing is becoming a factor, and buyers are opting for compact but well-locatedapartments instead of moving to larger homes in less central areas,” said a real estate market analyst.

Altiora is scheduled for completion by 2029, with its registration under MahaRERA ensuring regulatory oversight. Industry experts believe that as housing preferences evolve, more developers may follow this compact luxury model in Mumbai’s high-demand areas.

Also Read: Builders fear delay in projects because of Coronavirus

The post Viyaara Realty Plans ₹50 Crore Residential Project in Dadar appeared first on Square Feat India.

Purple Style Labs (PSL), a luxury fashion retail chain, has secured a major retail space in South Mumbai’s iconic Ismail Building. PSL Retail Private Limited has leased approximately 59,350 sq ft of retail space for a period of five years. The monthly rent for the store is set at ₹3 crore, translating to an annual rent of ₹36 crore for the first year.

According to property registration documents, the rent will increase annually, with the second-year rent rising to ₹39 crore, followed by ₹42 crore in the third year, ₹43.8 crore in the fourth year, and ₹45.6 crore in the final year of the lease. PSL has also deposited ₹18 crore as a security deposit for the transaction.

The lease transaction was officially registered on December 23, 2024, with a stamp duty payment exceeding ₹53 lakh and a registration fee of ₹1,000.

Zara Exits from South Mumbai

Marking the end of an era, Spanish fast-fashion brand Zara has closed its flagship store in South Mumbai’s Fort area after nearly a decade of operation. The store, which occupied 51,300 sq ft of space in the Edwardian neoclassical Ismail Building at Flora Fountain, was a landmark retail destination in the city.

A notice displayed outside the Zara store informed customers of its closure:

“Please be informed that this Zara store will cease operations after the end of business on February 23. We will continue to assist you at all our Zara stores in Mumbai.”

Zara originally registered the lease for the South Mumbai store on April 1, 2016, with a tenure of 21 years. However, property registration documents indicate that the company decided to exit the store after just nine years.

At the time of its lease agreement in 2016, Zara paid ₹2.25 crore in monthly rent and deposited ₹13.5 crore for the 47,565 sq ft space it occupied. The brand’s exit from this prime location signals a shift in the retail landscape of South Mumbai, making way for new players like Purple Style Labs.

Changing Retail Dynamics in South Mumbai

The transition from Zara to Purple Style Labs reflects the evolving retail preferences in South Mumbai, where luxury and high-end fashion brands are expanding their footprint. With PSL’s entry into the Ismail Building, the space is set to be repurposed to cater to a different segment of fashion consumers, bringing a new retail experience to the historic location.

While Zara’s departure marks the end of its presence in this iconic building, PSL’s move into the space suggests that luxury fashion remains in high demand in Mumbai’s prime shopping districts. As the city’s retail sector adapts to new consumer trends, the transformation of this space will be closely watched by industry experts and shoppers alike.

Also Read: India Retail Trends

The post Zara Shuts Shop, Purple Style Labs Enters Iconic SoBo Building appeared first on Square Feat India.

The transaction, which was registered on August 13, involved payment of a ₹21.30 crore stamp duty. Bayside Mall, with a built-up area of 17,345 sq ft spread over one-third of an acre, was previously made up of 105 units but now consists of 75 units following the amalgamation of some units. The Popular Press Building, located adjacent to the mall, is a ground plus two-storey structure built over more than one-fourth of an acre.

Ivory Property Trust paid the first tranche of ₹120 crore at the time of registration, with the second tranche of ₹120 crore paid on August 22. The final payment of ₹115 crore was due by November 20, marking the completion of the deal.

Bayside Mall, launched in the early 2000s, initially aimed to serve as a convenient shopping destination for local residents and continues to cater to a niche market with utility-driven offerings.

This acquisition marks K Raheja Corp’s second mall purchase in South Mumbai this year, following their acquisition of Central Mall for ₹476 crore. Central Mall, also in the Tardeo area, is expected to be redeveloped into a 50-storey sea-view superstructure, offering approximately 250,000 sq ft of development potential. With current property prices in the area, the project could fetch over ₹2,000 crore.

Also Read: Mumbai’s first Mall Sold for ₹476 Crore

The post K Raheja Corp Acquires Bayside Mall and Popular Press Building in South Mumbai for ₹355 Crore appeared first on Square Feat India.

Out of the most swanky residential locations in South Mumbai, Mumbai Central is fast becoming the most sought after locations for people looking for luxury apartments in Mumbai. An ultimate address of luxury, Mumbai Central is featuring stunning skyscrapers comprising palatial residential homes with breathtaking views and spectacular amenities. Formerly called Bombay Central, it is one of the major regions in the western line whose railway station is popular for local and express trains. Some of the popular localities in this region are Altamount Road, Nepean Sea Road, Moorland Road, Breach Candy, Dr A L Nair Road, Tardeo, Bellasis Road and many other such popular localities. Other than residential landmarks the region has few other landmarks like Wockhardt Hospital, Maratha Mandir, Reserve Bank of India, Air Condition Market, RTO Tardeo, BYL Nair Charitable Hospital, YMCA Ground, Sundatta High School and many other such landmarks.

Commenting about the location, Himanshu Jain, VP – Sales, Marketing & CRM, Satellite Developers Private Limited (SDPL) said, “South Mumbai has always been an ultimate aspirational destination when it comes to luxury real estate. Mumbai Central in South Mumbai is one such expensive part to live and also work in for several reasons. Location is the most crucial factor that helps end-users and investors in the final decision-making process and Mumbai Central offers that uniqueness in terms of locality and proximity to workplace.

The location offers an excellent value proposition with extravagant luxury living experience. However, Mumbai Central doesn’t have too much bandwidth remaining to support constantly growing infrastructure and development. As a result, in the coming years, it will see a wave of development and that is going to be an unparalleled opportunity for developers and property buyers alike. With a number of new launches expected in the vicinity, this upmarket neighbourhood is garnering significant interest from the homebuyers and investor community as well.

“
Mumbai Central is well-connected to the commercial hubs of Nariman Point, Cuffe Parade, Lower Parel & Worli and is a very prominent residential and commercial location in South Mumbai. The locality is aided by public transport at all times and an established social infrastructure. It enjoys excellent connectivity and is largely self-sufficient with high-grade educational and healthcare institutions as well as hotels and fine dining restaurants available.

South Mumbai’s popularity among homebuyers is primarily because of the connectivity and the amenities it offers. The upcoming Mumbai Metro Line 3, also known as the Colaba-Bandra-SEEPZ corridor, and the Mumbai Trans Harbour Link Project (MTHL) are expected to augment the connectivity further and propel the housing demand in the zone.

Also Read: NCR Unsold Stock Declines 12% Y-o-y, West India by 10%, 32% Increase in South India

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By Varun Singh

For the rich in Mumbai the price doesn’t matter what matters is luxury and this is one such example.

A flat in Mumbai’s Peddar Road was sold recently for ₹1.56 lakh per square feet.

Before I get into the details of the deal, let me remind you a similar deal took place in this building on Peddar Road in February earlier this year.

Ok now coming to the real that has caught our interest.

A deal in the month of September took place in Mumbai’s Peddar Road.

The building is named 33 South located on Peddar Road.

The flat we are taking about is a duplex located on the 13th and 14th floor of the building.

According to documents available with Squarefeatindia, the property was bought in the month of September.

To be specific on September 14, 2021, and a stamp duty of ₹2.12 crore was paid for the registration of the flat.

The duplex measures 316 square meters which translates into 3395 square feet and a consideration of ₹53 crore was paid for the apartment.

This works out to ₹1.56 lakh per square feet.

Along with the duplex the new owners will also have access to seven car parks in the building.

The sellers according to registration documents are Peddar Realty Pvt Ltd and JSW Steel Ltd.

The buyer is Alka Dujodwala who hails from a business family.

In February 2021, a similar deal took place in the building where duplexes located on the 27 and 28th floors were sold.

The deal was for ₹1.66 lakh per square feet, the seller was Sameer Bhojwani and the buyers were Jiten Doshi and Hetal Doshi, Jiten is a reputed and well known name in the Capital Markets.

The Doshi’s paid a total of Rs 61 crore for both the duplexes in February.

Also Read: Rs 1.66 lakh/sq ft

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