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Promoters Sell ₹121 Crore Apartment at Raheja Artesia in Worli

Promoters Sell ₹121 Crore Apartment at Raheja Artesia in Worli

Promoters of K Raheja Corp have sold a super-luxury apartment in Mumbai’s premium residential market. Ravi Raheja, group president of the company, and his wife Sumati Raheja sold a 6,772 sq ft apartment at Raheja Artesia in Worli for ₹121 crore.

The buyers, Shree Dhootapapeshwar Ltd, manufacture and sell Ayurvedic medicines and health supplements. The transaction highlights the continued momentum in Mumbai’s ultra-luxury residential market. Property registration documents show that the transaction was officially registered on February 26, according to data accessed by CRE Matrix.

Property and Transaction Details

The apartment sits on the 44th floor of the tower and spans 6,772 sq ft of built-up area. It also includes an additional 367 sq ft balcony or open terrace space.

Including the outdoor area, the deal value translates to roughly ₹1.7 lakh per square foot. The residence also comes with six dedicated car parking spaces.

Promoters Monetising Premium Inventory

Developers and promoters often retain select inventory in luxury projects and sell these units later as property values rise. Recent transactions at the same project reflect this strategy.

Angel investor Radha Tanti, wife of Suzlon Energy executive vice chairman Girish Tanti, recently purchased another apartment in the same tower from Ravi and Sumati Raheja for ₹123.5 crore.

In another transaction, Chandru Raheja and Jyoti Raheja sold two residences in the building to Suresh Pareek and Veena Pareek, promoters of Ideal Cures Pharma, for a combined ₹190.1 crore. That deal was priced at approximately ₹1,35,970 per sq ft.

Worli’s Luxury Market Continues to Break Records

The latest sale adds to a growing list of high-value transactions in Worli, where several homes have sold for over ₹100 crore in 2024 and 2025.

Limited supply, sea-facing locations, and strong demand from ultra-high-net-worth individuals have strengthened the neighbourhood’s reputation as Mumbai’s “billionaire street.” Premium developments such as Naman Xana, Three Sixty West, and Lodha Sea Face have attracted prominent buyers in recent years.

According to Abhishek Kiran Gupta, CEO of CRE Matrix, such high-value transactions reflect the depth of Mumbai’s ultra-luxury housing segment. Wealthy buyers increasingly view prime homes in the city as both a lifestyle investment and a long-term wealth asset.

Recent transactions at Raheja Artesia highlight the strong demand for ultra-luxury homes in Worli. Several high-value deals involving prominent business families and investors underscore the growing appetite for prime residential assets in Mumbai’s most exclusive neighbourhoods.

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Bobby Deol and Tania Deol Invest Over ₹15 Crore in Commercial Offices in Andheri West

Bobby Deol and Tania Deol Invest Over ₹15 Crore in Commercial Offices in Andheri West

Actor Bobby Deol and his wife, Tania Deol, have made a notable commercial real estate investment in Mumbai. The couple has acquired multiple office units worth over ₹15 crore in Andheri West. According to property registration documents accessed by CRE Matrix, the units are located at Yura Business Park – Phase 2 along the Andheri–Versova Link Road. The transactions highlight continued investor interest in commercial office assets in one of Mumbai’s key business micro-markets.

Deal Details

Bobby Deol purchased Unit C-201, a 71.44 sq. m. office, for ₹3.32 crore, paying ₹19.93 lakh in stamp duty. He also purchased Unit C-202, measuring 79.15 sq. m., for ₹3.68 crore, with stamp duty of ₹22.08 lakh.

Meanwhile, Tania Deol, through her company Greenstone Investments Private Limited, purchased three more units in the same project. These include Unit C-203 (50.63 sq. m., ₹2.35 crore, ₹14.12 lakh stamp duty), Unit C-204 (78.50 sq. m., ₹3.65 crore, ₹21.9 lakh stamp duty), and Unit C-205 (43.94 sq. m., ₹2.04 crore, ₹12.26 lakh stamp duty).

Strategic Investment by Bobby Deol

Bobby Deol and his wife, Tania Deol, have expanded their presence in Mumbai’s commercial real estate by purchasing multiple units. Tania Deol further acquired three additional spaces, bringing their combined investment to over ₹15 crore. Andheri West offers high rental yields, strong capital appreciation, and proximity to media houses, studios, and corporate offices, making it attractive for office tenants. This purchase reflects Bobby Deol’s smart strategy to diversify assets, earn stable rental income, and invest in a high-demand commercial market.

Why Andheri West is Attractive for Investors

Andheri West is one of Mumbai’s most sought-after commercial micro-markets. It offers excellent connectivity through the Andheri–Versova Link Road and is close to media houses, studios, and corporate offices. Office spaces here provide rental yields of 8–10%, often higher than luxury residential properties.

The area attracts not only businesses but also draws high-net-worth individuals and celebrities, looking for stable, income-generating assets. Strong infrastructure, modern commercial projects, and consistent demand make it a preferred choice for investors. With strong demand and limited supply, investing in Andheri West offices is seen as a smart long-term strategy.

Recent Transactions

Recent commercial transactions in Mumbai are increasingly seeing growing interest from celebrities investing in premium office and retail spaces. These buyers are entering the commercial property market, reflecting confidence in well-located assets across key micro-markets that offer stable rental income and long-term value growth.

In a recent transaction, the parents of Hrithik Roshan leased commercial space in Andheri West for ₹14.5 lakh/month, reflecting the strong leasing activity and continued interest in Mumbai’s prime commercial locations.

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Preity Zinta Sells Bandra Apartment for ₹18.5 Crore After Redevelopment

Preity Zinta Sells Bandra Apartment for ₹18.5 Crore

Bollywood actor Preity Zinta has sold an apartment in Mumbai’s upscale Pali Hill area of Bandra for ₹18.5 crore. Property registration documents accessed by CRE Matrix confirm the transaction.

The apartment came to Zinta in April 2025 after her residential building underwent redevelopment. This sale marks her second apartment transaction within four months.

Property and Transaction Details

The property sits in the Rustomjee Parishram building in Bandra’s Pali Hill neighbourhood. The apartment measures about 1,770 sq ft and sits on the 11th floor of the building. The sale was officially registered on March 2, 2026.

Documents show that Priya Nagar and Rajeev Nagar, US citizens of Indian origin, purchased the apartment. The transaction involved a stamp duty payment of ₹1.11 crore and a registration fee of ₹30,000.

Second Apartment Sale in Four Months

This is Zinta’s second property sale in the same building within four months. In November 2025, she sold another apartment in the building for over ₹14 crore. That apartment measured 1,474 sq ft and was also located on the 11th floor of Rustomjee Parishram.

Property Allotted After Redevelopment

Zinta owned property in the building for several years before redevelopment. According to CRE Matrix, the apartment was allotted to her as Permanent Alternate Accommodation (PAA) after the building was redeveloped.

The redevelopment took place under an agreement between the housing society and developer Keystone Realtors, which operates under the Rustomjee brand. The parties formalised the agreement on October 23, 2023. Under the redevelopment terms, residents received new apartments in the upgraded building once construction was finished.

Recent Celebrity Transactions

Recent celebrity real estate transactions highlight the strong demand for luxury homes in Mumbai. From high-value purchases to strategic sales, actors and public figures continue to actively buy, sell, and lease premium properties across the city’s most sought-after neighbourhoods.

In a recent transaction, television actor Tejasswi Prakash purchased a premium apartment in Mumbai’s upscale Bandra West locality for ₹7.63 crore. In another transaction, Bollywood actor Ishaan Khattar has purchased a premium apartment in Pali Hill, Bandra, for ₹29.37 crore.

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India’s Office Rental Market Is Surging in 2025 – What the CPRI Q4 Report Reveals

Rental Office India

India’s Office Rental Market in 2025 stays resilient as businesses expand in major cities. The Commercial Property Rental Index (CPRI) Q4 Report from IIMB-CRE Matrix offers data-driven insights into Grade A office rental changes across key areas.

For instance, the Q4 2025 study shows steady growth in India’s Office Rental Market in 2025. It highlights strong momentum in select cities and emerging micro-markets shaping commercial real estate.

The IIMB-CRE Matrix, from the Indian Institute of Management Bangalore and CRE Matrix, boosts transparency and data insights in India’s commercial real estate market.

India’s Office Rental Market Shows Steady Growth

The most recent research shows stable and consistent rental growth in India’s top office markets.

The key national indicators are:

  • 3.0% year-over-year rental growth
  • CAGR: 5.2% over three years
  • CAGR: 4.2% over five years
  • 4.4% ten-year CAGR

This steady performance shows strong demand. It comes from key sectors like technology, financial services, consulting, and global capability centers (GCCs).

How Do Major Indian Cities Perform in the Office Rental Market?

Mumbai
Mumbai leads office rental growth with a 10% three-year CAGR and 13.4% YoY rise, driven by strong demand and limited Grade A/A+ supply in prime business districts.

Gurugram
Gurugram’s office market shows strong momentum with 12.9% YoY growth and 8.7% three-year CAGR, supported by MNC leasing and growth along Sohna Road.

Bengaluru
Bengaluru records the highest CPRI score of 207, with tech firms and GCCs driving demand in Whitefield and Outer Ring Road office corridors.

Hyderabad
Hyderabad’s office rentals remain stable with 0.6% YoY growth and 3.9% three-year CAGR, led by demand in HITEC City and Gachibowli.

Pune
Pune’s Grade A/A+ office market grew 0.9% YoY with a 5.2% three-year CAGR, supported by strong IT demand in Hinjewadi.

Chennai
Chennai saw rentals drop 17.5% year on year. It also had a 3.2% fall over three years. However, quarterly growth in areas like the Northern Suburbs shows local demand bouncing back.

Noida
Noida’s rental index fell 4.4% year on year. But it kept a 4.1% growth rate over three years. Leasing along the Greater Noida Expressway still drives its commercial growth.

Navi Mumbai
Navi Mumbai shows mixed trends. Rentals dropped 3.4% year on year. Yet it gained 5.7% over three years. In fact, the city had the biggest rank jump among major markets.

Delhi
Delhi office rentals rose 11.2% YoY with a 6.8% three-year CAGR, driven by demand in established CBD locations.

Thane
Thane saw 9.1% YoY rental growth and 5.5% three-year CAGR, supported by infrastructure upgrades and competitive rents near Mumbai.

Mumbai Leads Office Rental Growth 

Among India’s major office markets, Mumbai has emerged as the fastest-growing city for office rentals. For instance, the report shows its highest 3-year CAGR of 10.0%. This highlights strong, consistent growth across its office corridors. Moreover, Mumbai led quarter-on-quarter growth in Q4 2025, with rents up 2.8%. As a result, this reflects robust occupier demand and steady leasing in prime locations.

Gurugram Continues to Show Strong Momentum 

For example, Gurugram ranks among India’s most dynamic office markets. This stems from multinational corporations, global capability centers, and a growing financial and consulting ecosystem. Moreover, the report shows 12.9% year-on-year rental growth. As such, it stands as one of the country’s top performers. In turn, this signals strong leasing demand across the city.

Bengaluru remains India’s largest office market

While Mumbai leads in rental growth, Bengaluru continues to dominate the total market. The city had the highest CPRI index rating of 207, indicating the size and depth of its office market.

Bengaluru’s leadership is bolstered by its status as India’s technological hub, with a high concentration of global capability centers, technology businesses, and startups that continue to fuel office demand.

Emerging High-Growth Office Micromarkets

The research stresses high-performing office micromarkets in India’s cities. They grow more important.

Among them, Whitefield in Bengaluru had the top rental rise. It grew 18.7% over three years. Tech companies and new business clusters drive strong demand.

Meanwhile, Chennai’s Northern Suburbs led macro-markets this quarter. Rentals jumped 9.7% quarter on quarter.

Thus, these corridors speed up. Reasons include better infrastructure, fresh developments, and growing corporate presence.

What Does This Mean for India’s Commercial Real Estate Market?

Q4 2025 CPRI data shows India’s office rentals stay stable and grow. Mumbai leads in growth. Meanwhile, Gurugram keeps a fast pace. Bengaluru remains the largest office hub.

At the same time, new micro-markets in big cities drive the future demand. As businesses expand in India, demand for top Grade A spaces in key areas will stay strong.

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Airbus India Private Limited Expands Bengaluru Footprint to Nearly 8 Lakh Sq Ft

Airbus India Private Limited Expands Bengaluru Footprint to Nearly 8 Lakh Sq Ft (3)

Global aerospace and defence major Airbus India Private Limited has leased 1.51 lakh sq ft of office space at Titanium Tech Park in Bengaluru, according to documents accessed by CRE Matrix. The deal strengthens the company’s long-term expansion strategy in India. With this addition, Airbus continues to scale its technology and engineering footprint in the city.

Deal Details 

Airbus leased 1,14,955 sq ft across the third and fourth floors and 36,755 sq ft on the ground floor. The company agreed to pay ₹64 per sq ft per month. It will pay ₹73.57 lakh for the upper floors and ₹23.52 lakh for the ground floor. The total leased area stands at 1,51,710 sq ft. The total monthly rent stands at ₹97.09 lakh. The lease runs for eight years until October 31, 2034. The company paid a security deposit of ₹4.75 crore for the upper floors and ₹1.52 crore for the ground floor. The agreement also includes 203 parking spaces across all floors.

Earlier 6.2 Lakh Sq Ft Commitment

Last year, Airbus leased over 6.2 lakh sq ft in the same tower to establish its global capability centre. The company took 5.63 lakh sq ft across the sixth to the fifteenth floors at a monthly rent of ₹3.60 crore. It also leased 57,508 sq ft on the fifth floor for ₹36.80 lakh per month. The earlier agreement included a scalability clause that allowed Airbus to add another 1.5 lakh sq ft and extend the lease by five years, potentially making it a 15-year commitment.

Market Outlook and Sentiments

India’s office market continues to show strong momentum, with leasing activity nearing record levels and Bengaluru leading demand. Global capability centres, technology firms, and flex operators are driving fresh absorption despite global uncertainties.

Improving sentiment indicators reflect renewed confidence in premium office assets. The Airbus expansion aligns with this broader optimism, as large occupiers continue to secure quality space in Bengaluru. This, in turn, indicates sustained demand in India’s commercial real estate market.

Recent office space transactions in Bengaluru highlight sustained demand from global occupiers and technology majors. In one of the largest commercial leasing deals of 2025, IBM India Pvt. Ltd. leased 161,884 sq ft of Grade-A office space at Embassy Golflinks Business Park (EGL), Bengaluru.

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Merlin Group Acquires 3.3-acre land near Pune’s Koregaon Park for Rs 273 crore

Merlin Group Acquires 3.3-acre land near Pune’s Koregaon Park for Rs 273 crore

Merlin Group has acquired a 3.26-acre land parcel in Mundhwa, near Koregaon Park in Pune, for ₹273 crore. The deal strengthens the developer’s presence in western India and signals its growing focus on commercial real estate in high-demand micro-markets.

The transaction was registered on February 20. The buyer paid a stamp duty of ₹19.11 crore, according to documents accessed via CRE Matrix.

Office-Led Commercial Project with ₹1,000 Crore Investment

Merlin Prime Spaces, a subsidiary of the Kolkata-based developer, will develop an office-led commercial project on the site. The company plans to invest over ₹1,000 crore in total, including the land cost. Out of this, nearly ₹800 crore will go toward construction, development, and associated project expenses. The project is expected to have a commercial value of around ₹3,000 crore upon completion, owing to strong tenant demand and the prominence of the location

While exact designs are still being worked out, Merlin Group has stated that the site would be used to build a large-format commercial project. According to industry opinion and market sources, the development is intended to address:

  • Office occupiers
  • BFSI businesses (Banking, Financial Services, and Insurance)
  • Global Capability Centers (GCC)

With this focus, the project is projected to capitalize on Pune’s growing office leasing demand and appeal to corporations seeking superior workspace options.

Strengthening Presence in Pune

Merlin Group entered Pune in 2021 and has steadily expanded its footprint in the city. The company is currently developing three projects across segments.

These include one commercial project, one mixed-use development, and one premium residential project. Together, they account for nearly 1 million sq ft of development.

The developer also plans to launch another commercial project in Baner. At the same time, it is evaluating opportunities in Navi Mumbai to strengthen its western India portfolio.

Why Mundhwa–Koregaon Park Is Attracting Developers

The Joregaon–Mundhwa belt has seen rising developer interest in recent years. Its proximity to established employment hubs such as Kharadi, Magarpatta, and Hadapsar continues to drive both commercial and residential demand.

Improved connectivity and expanding social infrastructure have further enhanced the micro-market’s appeal. Organised developers are actively acquiring land here to replenish their pipelines.

Large-scale transactions in this corridor often signal upcoming commercial or mixed-use projects. Steady land deals in Pune reflect sustained developer confidence in the city’s long-term growth trajectory.

Recent Land Transactions in Pune

Recent land transactions in Pune reflect steady developer confidence across key micro-markets. Acquisitions in established and emerging corridors signal plans for residential, commercial, and mixed-use projects. Strong end-user demand, improving infrastructure, and employment growth continue to drive strategic land buying activity in the city.

In a recent transaction, Pristine Landmark Spaces LLP signed a deal to acquire a large 4.2-acre land parcel in Vadgaon Sheri for ₹250 crore.

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Gurugram’s Ultra-Luxury Housing Market Hits Record High in CY 2025

Gurugram’s Ultra-Luxury Housing Market Hits Record High in CY 2025

Gurugram has firmly established itself as India’s most dynamic ultra-luxury residential market in 2025. According to the Gurugram High-End Luxury Housing Report – CY 2025 by CRE Matrix in collaboration with India Sotheby’s International Realty, the city recorded an unprecedented ₹24,120 crore in luxury home sales during the calendar year.

This marks the highest-ever annual transaction value for homes priced at ₹10 crore and above in Gurugram — and the strongest performance by any city in this ultra-premium segment.

₹24,120 Crore in Sales: A Landmark Year

In CY 2025:

  • 1,494 luxury homes (₹10 Cr+) were sold.
  • Average ticket size stood at ₹16 crore.
  • Average home size was approximately 5,000 sq. ft.

The ultra-luxury segment captured 24% market share (by value). The surge represents nearly a 10-fold jump in volumes since CY 2023, when just 155 units were sold in this price bracket.

The total transaction value grew dramatically from ₹4,004 crore in CY 2023 to ₹24,120 crore in CY 2025, reflecting strong wealth creation, rising investor confidence, and sustained appetite among HNIs and ultra-HNIs.

Gurugram Outpaces Mumbai in Luxury Sales

While Mumbai has traditionally dominated India’s premium housing landscape, CY 2025 saw Gurugram surpass Mumbai in total transaction value for homes priced above ₹10 crore.

This shift signals a structural change in India’s luxury housing geography, positioning Gurugram as the fastest-growing high-end residential engine among Tier 1 cities.

Other major markets such as Noida & Greater Noida, Hyderabad, and Bengaluru have shown growth, but none matched Gurugram’s scale and acceleration in the ₹10 crore+ category.

The Inflection Point: CY 2024 to CY 2025

CY 2024 marked a decisive turning point for Gurugram’s ultra-luxury housing market, as unit sales surged to 519 and transaction value climbed to ₹13,384 crore, setting the stage for an even stronger 2025. In CY 2025, volumes nearly tripled to 1,494 units, reflecting extraordinary demand momentum in the ₹10 crore and above segment. 

This sharp acceleration highlights robust capital inflows, a rapidly expanding HNI and ultra-HNI base, greater regulatory transparency under RERA, and improved construction quality across premium developments. At the same time, buyers are increasingly gravitating toward branded, amenity-rich residences in prime micro-markets. Record IPO activity in India during 2025 further strengthened this momentum, creating a new wave of founders and entrepreneurs entering the luxury housing space and reinforcing Gurugram’s position as a leading ultra-premium residential hub.

Rise of ₹20 Cr and ₹40 Cr+ Homes

The data reveals growing depth in demand across higher price brackets within Gurugram’s ultra-luxury segment. Homes priced between ₹10–20 crore contributed over 80% of total units sold in CY 2025, forming the backbone of the market’s expansion.

At the same time, the ₹20–40 crore segment expanded sharply, rising from just 31 units in CY 2022 to 148 units in CY 2025. Even the ₹40 crore+ category witnessed steady growth, reflecting a clear appetite for ultra-exclusive residences.

This evolution signals a maturing buyer profile—one that prioritises prime locations, superior construction quality, branded developments, and lifestyle amenities over mere scale.

Dwarka Expressway: The Breakout Luxury Corridor

Among all micro-markets, Dwarka Expressway emerged as the undisputed leader in CY 2025. Units sold surged dramatically from 21 in CY 2024 to 630 in CY 2025, while transaction value skyrocketed from ₹383 crore to ₹8,347 crore. Weighted average prices also climbed from ₹23,622 per sq ft to ₹26,756 per sq ft, reflecting both rising volumes and price appreciation.

Large-scale luxury launches and the completion of key infrastructure transformed the corridor into Gurugram’s most active ultra-luxury hub. Projects such as Elan The Emperor, Whiteland Westin Residences, M3M Elie Saab, and Delphine Central Park Estates played a pivotal role in driving this momentum.

Golf Course Road: Premium but Inventory-Constrained

Golf Course Road continues to command the highest ticket sizes in the city and remains synonymous with established luxury living. However, total sales value declined 28% year-on-year in CY 2025, largely due to limited fresh inventory rather than any softening in demand.

The micro-market remains home to marquee developments such as DLF The Dahlias, DLF The Camellias, and Godrej Astra, reinforcing its position as Gurugram’s most prestigious address.

Golf Course Extension Road: Premiumisation in Action

Golf Course Extension Road recorded a remarkable 379% rise in transaction value, increasing from ₹693 crore to ₹3,319 crore year-on-year. Weighted average prices jumped sharply from ₹24,855 per sq ft to ₹37,899 per sq ft, highlighting strong premiumisation and the success of upscale project launches.

Developments such as Experion One 42, M3M Altitude, and Trump Towers Gurugram contributed significantly to this growth, positioning the corridor as one of the fastest-emerging luxury destinations in the city.

Bigger Homes, Bigger Aspirations

Luxury buyers in 2025 are clearly prioritising space and lifestyle. Homes sized between 4,000–6,000 sq. ft. dominated the market with 1,029 units sold, accounting for 54% of total value share, while residences above 8,000 sq. ft. contributed 22% by value. With an average home size of nearly 5,000 sq. ft., the data reflects a structural shift toward spacious, experience-driven living.

What’s Driving the Boom?

Rapid wealth creation, IPO-led liquidity, strong developer balance sheets, regulatory transparency under RERA, rising investments from global Indians, and major infrastructure upgrades power the surge. Together, these factors have transformed Gurugram from a satellite corporate hub into a globally aligned luxury residential destination.

CY 2025 stands out as a watershed year for Gurugram’s ultra-luxury housing segment. With record-breaking volumes, rising ticket sizes, expanding micro-markets, and strong capital formation, the city has cemented its position as India’s epicenter for ₹10 crore+ residences.

If current momentum sustains, Gurugram’s luxury real estate market is poised not just for cyclical growth — but for long-term structural expansion.

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Suryakumar Yadav’s Wife Devisha Shetty Buys ₹7.18 Crore Apartment in Chembur

Suryakumar Yadav’s Wife Devisha Shetty Buys ₹7.18 Crore Apartment in Chembur

Devisha Shetty, wife of Indian cricketer Suryakumar Yadav, has added a premium Mumbai property to her portfolio with the purchase of a luxury apartment in Chembur. Property registration documents reviewed by CRE Matrix show that she acquired the apartment for ₹7.18 crore. The transaction was officially registered on February 20, 2026.

Deal Details and Possession Timeline

The apartment is located in Godrej Sky Terraces, a premium residential project in Chembur. The project is developed by Godrej Properties Limited and offers modern amenities and upscale living. The unit spans 140.86 square metres and comes with two car parking spaces. The deal attracted a stamp duty payment of ₹35.90 lakh. As per the agreement for sale, possession of the apartment is scheduled for June 30, 2028.

Celebrity Interest in Mumbai Real Estate

Mumbai’s premium residential market continues to attract celebrities and high-net-worth buyers. Chembur is emerging as a key luxury micro-market, driven by improving connectivity and premium developments. Projects like Godrej Sky Terraces offer lifestyle upgrades along with long-term value, adding to the growing list of high-value residential transactions in the city.

Adding to celebrity real estate activity, Bollywood actor Ishaan Khattar acquired a luxury apartment in Pali Hill, Bandra, for ₹29.37 crore. In a separate transaction, television actor Tejasswi Prakash purchased a premium apartment in Mumbai’s upscale Bandra West locality for ₹7.63 crore.

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Lodha Developers Limited Signs ₹364.81 Crore JDA for Parel–Sewri Land Parcels

Lodha Developers Limited Signs ₹364.81 Crore JDA for Parel–Sewri Land Parcels

Mumbai’s redevelopment story continues to gather pace. Lodha Developers Limited has signed a ₹364.81 Crore joint development agreement (JDA) for over 10 acres of land in the Parel–Sewri belt of central Mumbai.

Sahana Properties and Resorts Pvt Ltd and Shahana Builders and Developers Pvt Ltd, both part of the Sahana Group, executed the agreement with Lodha Developers. The parties registered the transaction on February 11, 2026. Lodha Developers paid ₹37.2 crore in stamp duty, according to property registration documents accessed by CRE Matrix.

Project Details and Revenue Share

The total land parcel measures 41,526 square metres. The land parcels covered under the joint development are located on Thackeray Jivraj Cross Road in the Parel–Sewri belt. The project will be developed under the Lodha brand.

Under the terms of the JDA, revenue will be shared between the partners. Lodha Developers will hold a 67 per cent share, while the Sahana Group will receive 37 per cent. The construction timeline for the project is five years.

The deal structure reflects a capital-efficient expansion strategy. Instead of outright land acquisition, joint development allows developers to unlock value while sharing risk and returns with landowners.

Parel–Sewri: A Key Redevelopment Corridor

The Parel–Sewri micro-market has emerged as a major redevelopment hub in central Mumbai. Once dominated by industrial land and aging structures, the belt is now transforming into a mixed-use residential and commercial destination.

Improved connectivity, proximity to South Mumbai, and ongoing infrastructure upgrades have significantly increased the area’s appeal. As a result, demand has strengthened in this micro-market. Moreover, large land parcels are rare in Mumbai, making a 10-acre aggregation in this location a strong signal of long-term development potential.

At the same time, three key factors continue to drive redevelopment in central Mumbai: limited greenfield supply, strong end-user demand, and infrastructure-led value appreciation. Consequently, as landowners and developers replace older buildings and defunct industrial plots, they are actively launching premium housing projects and integrated lifestyle developments to meet evolving buyer expectations.

The Bigger Redevelopment Story

Mumbai’s growth is no longer about horizontal expansion. It is about vertical transformation. Central neighbourhoods like Parel and Sewri are being reimagined through structured redevelopment and planned projects.

Large JDAs such as this underline how developers are securing strategic land parcels without heavy upfront acquisition costs. At the same time, landowners participate in future upside.

As infrastructure upgrades advance and redevelopment accelerates, developers will continue to add sustained residential supply across central Mumbai. The key question will be absorption. If demand momentum holds, projects in well-connected micro-markets are likely to remain resilient.

This 10-acre deal adds another chapter to Mumbai’s evolving redevelopment landscape.

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Tejasswi Prakash Buys ₹7.63 Crore Luxury Apartment in Bandra West

Tejasswi Prakash Buys ₹7.63 Crore Luxury Apartment in Bandra West (2)

Television actor Tejasswi Prakash has purchased a premium apartment in Mumbai’s upscale Bandra West locality for ₹7.63 crore, according to property registration documents accessed by CRE Matrix.

The transaction adds to the steady stream of celebrity investments in Mumbai’s high-value residential market. Many of these investments focus on prime micro-markets known for exclusivity and long-term appreciation potential.

Property Details: Bay Heights, Bandra Reclamation

The apartment is located in Bay Heights on Krishna Chandra Marg in Bandra Reclamation. It is one of the most sought-after residential pockets in Mumbai. The project has been developed by Excel Enterprises India Private Limited.

The apartment measures 121.14 sq metres (approximately 1,304 sq ft) and comes with two dedicated car parking spaces. The transaction was officially registered on February 16, 2026.

The actor paid ₹38.15 lakh in stamp duty. As per the agreement, the developer will hand over possession on November 29, 2030.

Bandra West: A Celebrity Favourite

Bandra West continues to be a magnet for high-net-worth individuals, business leaders, and film and television personalities. Its appeal lies in a combination of strategic location and lifestyle advantages—proximity to key business districts, premium sea-facing developments, upscale retail, dining hubs, and established social infrastructure.

Over the years, Bandra has maintained strong capital values despite broader market fluctuations, making it a preferred destination for end-users and investors alike. The locality’s limited land availability and consistent demand have contributed to sustained price resilience.

A Look at Tejasswi Prakash’s Career

Tejasswi Prakash, also known as Tejasswi Prakash Wayangankar, is a prominent face in Hindi television and Marathi cinema. She is the recipient of prestigious industry honours, including the Indian Television Academy Award and the Indian Telly Award. Her growing popularity and consistent on-screen presence reflect her strong standing in the entertainment industry.

Recent Transactions

This acquisition reflects a larger trend in Mumbai’s luxury housing market, where buyers continue to invest in premium homes despite high property prices. Celebrity deals such as this draw significant attention, shape market sentiment, and strengthen confidence in prime micro-markets. With constrained supply and consistent demand, these neighbourhoods remain a preferred choice for celebrities and long-term investors.

In another notable deal, Bollywood actor Ishaan Khattar acquired a luxury apartment in Pali Hill, Bandra, for ₹29.37 crore.

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