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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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Navi Mumbai: MMR’s Next Core Commercial Hub

Navi Mumbai as MMR’s Next Core Commercial Hub

Navi Mumbai is rapidly evolving from a satellite city into a key growth engine within the Mumbai Metropolitan Region (MMR). According to CRE Matrix’s latest report, Navi Mumbai Rising: A Comprehensive Perspective on India’s Next Commercial Real Estate Hub, this transformation is being fueled by strong occupier demand, a growing supply of Grade A and A+ office spaces, ESG-compliant developments, enhanced connectivity, and large-scale infrastructure expansion.

From Satellite City to Core Office Market

The report highlights that Navi Mumbai is increasingly being positioned as a core office and employment destination, supported by a strong social and talent ecosystem. A robust education network ensures a scalable talent pipeline, while improved liveability helps employers attract and retain skilled professionals.

Residential expansion, retail growth, and a growing concentration of data centres further strengthen Navi Mumbai’s ability to function as a comprehensive business hub.

Infrastructure Catalysts Driving Growth

Navi Mumbai’s commercial ascent is being propelled by major infrastructure projects under the Mumbai 3.0 initiatives. Key developments include:

  • Navi Mumbai International Airport
  • Jawaharlal Nehru Port Trust (JNPT)
  • Metro corridors and the Katai Naka Tunnel
  • Atal Setu connectivity

These projects are reducing commute times and integrating Navi Mumbai more closely with Mumbai’s core economy, creating a seamless growth corridor.

Abhishek Kiran Gupta, CEO & Co-founder of CRE Matrix, stated that the next phase of commercial real estate growth in the MMR will be driven by Navi Mumbai, anchored on three key pillars—GCCs, green buildings, and gigawatts—positioning it as a large-scale institutional-grade business destination.

He highlighted that the city’s growth is strongly backed by data, including a 21% rental advantage attracting global capability centres, 23.5 msf of green building development, 628 MW of live IT load across 7.5 msf of data centres, and a robust 3,400+ MW upcoming data centre pipeline.

Residential and Ecosystem-Led Growth

Beyond offices, Navi Mumbai’s expansion is increasingly ecosystem-driven. From 2020 to 2025, the city recorded 13,205 housing units sold and 24,163 units supplied, with premium and luxury segments dominating sales. Over half of the homes sold exceeded 700 sq ft, indicating workforce stability and aspirational demand.

Cost Advantage and Green Office Stock

Navi Mumbai is emerging as a cost-competitive office destination, attracting multinational companies and Global Capability Centres (GCCs). Average office rentals in the city are around ₹70 per sq ft per month, which is approximately 21% lower than the average rents in Tier-1 markets.

This pricing advantage, combined with improving infrastructure and connectivity, is drawing corporate occupiers looking to optimise real estate costs while remaining close to Mumbai’s business ecosystem. Despite the affordability, the market has shown healthy momentum, with office rents growing at a compound annual growth rate (CAGR) of about 5.1% over the past three years, indicating stable and sustained demand.

The city currently has around 32.7 million sq ft of prime office stock with nearly 430 occupiers across key micro-markets. In addition, about 23.5 million sq ft of new office supply is expected by 2031, which will further expand the commercial landscape.

Sustainability is another defining feature of the market, with around 72% of the Grade A and A+ office stock being green-certified, among the highest shares in India. North Navi Mumbai currently leads the under-construction pipeline of green office developments, reinforcing the region’s shift toward sustainable and future-ready workspaces.

Emerging Data Centre Hub

The city is also emerging as a major data centre hub, with:

  • 628 MW operational IT load across 7.5 million sq ft of data centre space
  • Ranking third in Asia by operational IT load
  • Projected to reach 3,400+ MW by 2035, positioning Navi Mumbai as Asia’s next data centre capital

Notably, about 77% of operational capacity is occupier-owned, highlighting strong institutional interest.

Liveability and Demographics

Navi Mumbai’s appeal is further enhanced by:

  • 41% lower congestion compared to Mumbai
  • Better air quality and less crowded public transport
  • Housing costs are 20–30% lower than in the core Mumbai regions
  • Predominantly middle-income population, supporting stable consumption and workforce

Large-Scale Infrastructure Investment

Infrastructure investment continues to drive growth:

  • Rs 80,000 crore invested in transformational projects like the Navi Mumbai International Airport, expected to generate 50,000+ jobs
  • Rs 95,000 crore invested in roads across 200 km of upcoming corridors

With robust infrastructure, a skilled talent pool, cost advantages, and a growing green and digital footprint, Navi Mumbai is moving from potential to performance. It is rapidly becoming the preferred destination for office leasing, large-scale investments, and the next core commercial hub of the Mumbai Metropolitan Region.

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Reliance Industries Limited Buys Three Luxury Homes at One Altamount Road for ₹85 Crore

Reliance Industries Limited Buys Three Luxury Homes at One Altamount Road for ₹85 Crore

In a significant luxury real estate transaction in South Mumbai, Reliance Industries Limited has purchased three residential units at One Altamount Road for ₹85 crore, according to property registration documents accessed by CRE Matrix.

Deal Details

The company acquired three units with a combined carpet area of around 3,162 sq ft, including a primary apartment measuring approximately 2,004.8 sq ft and two additional units of about 578.67 sq ft each. India Best Buy Private Limited sold the properties. The deal was registered on February 10, 2026, and Reliance Industries Limited paid nearly ₹5.10 crore in stamp duty, according to official documents.

A Premium South Mumbai Address

One Altamount Road stands in the prestigious Altamount Road–Cumballa Hill belt. The location ranks among Mumbai’s most exclusive residential zones. It attracts industrialists, business families, and ultra-high-net-worth buyers seeking prime city addresses.

Corporate Demand Remains Strong

This acquisition highlights sustained corporate interest in South Mumbai’s luxury housing market. Large companies and high-net-worth individuals continue to invest in prime assets despite high property prices and significant transaction costs.

The deal reinforces confidence in Mumbai’s top-tier residential micro-markets, where demand remains resilient for trophy properties.

Recent Transactions

Mumbai’s luxury real estate market has witnessed a steady surge in high-value transactions, with corporates, industrialists, and high-net-worth individuals acquiring premium homes in prime locations. Despite elevated prices, demand for exclusive addresses in South Mumbai continues to remain resilient.

In a recent transaction, Radha Tanti, angel investor and wife of Suzlon Energy executive vice chairman Girish Tanti, purchased a premium apartment in Worli for Rs 123.5 crore. In another transaction, a US-based Non-Resident Indian (NRI) purchased two sea-facing luxury apartments in Bandra West, Mumbai, for a staggering ₹56 crore.

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Pristine Landmark Acquires Strategic Land Parcel in Pune’s Vadgaon Sheri

Pristine Landmark Acquires Strategic Land Parcel in Pune’s Vadgaon Sheri

Pune’s land market is heating up once again, with developers stepping up land acquisitions in high-growth micro-markets. According to documents accessed by CRE Matrix, Pristine Landmark Spaces LLP has signed a deal to acquire a large 4.2-acre land parcel in Vadgaon Sheri for ₹250 crore. The transaction reflects growing developer confidence in locations backed by office demand, infrastructure connectivity, and steady residential absorption.

Key Deal Highlights

Pristine Landmark Spaces LLP has signed an agreement to acquire a 4.2-acre land parcel in Pune’s Vadgaon Sheri for ₹250 crore. The agreement was registered on February 4, with stamp duty of ₹17.5 crore paid on the transaction. Kumar City Co-operative Housing Society Ltd. is the seller in the deal.

Strategic Impact of the Acquisition

The land acquisition strengthens Pristine Landmark’s presence in Pune. It supports long-term development plans in the city. Vadgaon Sheri offers access to major employment hubs. The location also provides proximity to the airport and key business districts. Such areas continue to attract developer interest. The deal reflects a focused and future-ready growth strategy.

Why Vadgaon Sheri Remains a Key Micro Market

Vadgaon Sheri has evolved into a well-established residential zone in East Pune. It benefits from direct access to Nagar Road and nearby commercial districts. The area is close to major IT and business hubs. Social infrastructure has also improved over time. Schools, healthcare, and retail options are easily accessible. These factors continue to support steady residential demand. Developers see long-term value in this micro market.

Pune Real Estate Market Outlook

Pune continues to stand out as a stable and high-performing real estate market. Demand remains driven by strong employment growth. The city has a deep base of IT and manufacturing companies. Infrastructure upgrades are improving connectivity across key corridors. Homebuyers continue to show long-term confidence. Developers are actively securing land in prime locations. These trends point toward sustained and balanced growth for the city.

Recent Transactions

Recent land deals in Pune point to a clear shift in developer strategy. With demand holding firm and supply staying disciplined, builders are actively securing large parcels across key growth corridors, signalling confidence in the city’s long-term residential and mixed-use development prospects.

In a recent transaction, Mumbai-based real estate major K Raheja Corp, through its subsidiary KRC Queens Pvt Ltd, purchased a 7.43-acre land parcel in Mahalunge near Pune’s thriving Hinjewadi IT hub.

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Bollywood Actor Ishaan Khattar Buys ₹29.37 Cr Luxury Home in Mumbai’s Pali Hill

Ishaan Khattar Buys ₹29.37 Cr Luxury Home in Mumbai’s Pali Hill

Mumbai’s luxury housing market has recorded another celebrity transaction. Bollywood actor Ishaan Khattar has purchased a premium apartment in Pali Hill, Bandra, for ₹29.37 crore. Property registration documents accessed by CRE Matrix confirm the deal. The transaction once again underlines Pali Hill’s position as one of Mumbai’s most sought-after luxury residential micro-markets.

Deal Snapshot: Key Details

Ishaan Khattar has acquired a luxury apartment at Navroz Apartments in Bandra’s prime Pali Hill neighbourhood, under the Navroze Premises Co-operative Society. Kapil M Mahtani sold the property, and the transaction was registered on February 5, 2026. The apartment measures 2,989.05 sq ft in carpet area and comes with four parking spaces. As per the documents, Khattar paid ₹1.76 crore as stamp duty for the transaction.

Why Pali Hill Attracts Bollywood Stars

Pali Hill remains one of Mumbai’s most prestigious residential addresses. The neighbourhood continues to attract celebrities, business leaders, and high-net-worth individuals seeking exclusivity and privacy. Luxury apartments in this micro-market command premium pricing, with rates ranging between ₹80,000 and ₹1.30 lakh per sq ft. Limited supply and sustained demand keep values firm across market cycles.

Bandra’s strategic location adds to its appeal for the film fraternity. Pali Hill offers convenient access to major film production hubs in Andheri, Versova, Juhu, and Goregaon Film City. This proximity reduces commute time for actors and production teams and enhances lifestyle convenience. The location advantage continues to make Bandra a preferred residential base for Bollywood professionals.

Pali Hill’s Star-Studded Resident List

For decades, Pali Hill has served as Bollywood’s most recognisable celebrity enclave. Several leading film personalities own homes in the area, reinforcing its premium brand value. Notable residents include Shah Rukh Khan, Aamir Khan, Ranbir Kapoor, Alia Bhatt, Dilip Kumar, Jackie Shroff, and Sanjay Dutt. The concentration of high-profile residents sustains the locality’s aspirational appeal.

Recent Transactions

Mumbai’s luxury housing segment continues to record high-value buying and selling activity. Recent transactions show sustained appetite for prime assets, even as some owners monetise long-held properties. Celebrity deals, in particular, reflect confidence in premium micro-markets and reinforce their pricing power.

In a recent transaction, Bollywood actress Madhuri Dixit Nene and her husband, Dr. Shriram Madhav Nene, sold their luxury apartment in Mumbai’s premium Juhu locality for ₹3.9 crore. In another transaction, popular comedian Bharti Singh has sold her apartment in Mumbai’s Goregaon West for ₹3.75 crore.

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India Office Market 2025: Scale, Strength, and Structural Growth

India Office Market 2025 Scale, Strength, and Structural Growth

The India Office Market 2025 has entered a new phase of institutional scale. From an outsourcing destination to a globally competitive commercial real estate ecosystem, the transformation has been steady and structural. The sector continues to demonstrate resilience despite global macroeconomic shifts, supported by strong occupier confidence and long-term demand fundamentals.

According to the latest India Office Report | Q4 CY’25 released by CRE Matrix in collaboration with CREDAI National, India’s Grade A and A+ office stock has crossed 1.04 billion sq. ft — a historic milestone for the sector. This growth is supported by sustained GCC expansion, diversified demand, disciplined supply additions, and the continued leadership of key hubs such as Bengaluru and Hyderabad.

Leasing Trends in the Indian Office Market 2025

Pan-India Grade A leasing reached 82.3 million sq. ft. in CY’25, maintaining strong momentum despite global macroeconomic uncertainty. Global Capability Centres (GCCs) continued to anchor demand, while expansion remained steady across established office corridors. The BFSI sector contributed 23% of total leasing activity, and co-working operators accounted for 9%, reflecting a diversified occupier base. Nearly 60% of total leasing was concentrated in the top three cities, with large-format transactions and campus-style developments dominating activity.

Vacancy across Pan-India Grade A office stock moderated to 14.4%, supported by steady absorption and carefully calibrated supply additions. Compression was most visible in prime micro-markets, particularly Bengaluru, Hyderabad, and select pockets of NCR and Pune. Rents continued an upward trajectory, driven by flight-to-quality demand and growing preference for ESG-compliant Grade A assets, with the strongest growth in GCC-led and technology-centric corridors.

City-wise Insights: India Office Market 2025

  • Bengaluru – Under-construction stock: 125.4 msf, current stock: 264.6 msf, vacancy: 9.3%. Key demand from IT/ITeS and GCCs: major leasing in North Bengaluru, Outer Ring Road, Whitefield, and South Bengaluru.
  • Hyderabad – Under-construction stock: 119.5 msf, current stock: 169.2 msf, vacancy: 25%. Demand led by IT/ITeS, BFSI, and Industrial sectors; major hubs include Gachibowli, Hitec City, and CBD Hyderabad.
  • Delhi NCR – Under-construction stock: 68.2 msf, current stock: 196.4 msf, vacancy: 20.6%. Strong leasing in Aerocity, NH-48, Prime Gurgaon, Golf Course Road; demand driven by IT/ITeS, BFSI, Co-working, and Energy/Utilities.
  • MMR (Mumbai Metropolitan Region) – Under-construction stock: 67.8 msf, current stock: 169.9 msf, vacancy: 11.8%. Key markets include Andheri, Navi Mumbai (North & South), Central Mumbai, Western Suburbs; demand from BFSI, IT/ITeS, Co-working, and Commercial Services.
  • Pune – Under-construction stock: 61.7 msf, current stock: 115.3 msf, vacancy: 14.5%. Leasing concentrated in SBD Pune, North Pune, Hinjewadi, North East Pune; demand led by BFSI, IT/ITeS, and Co-working.
  • Chennai – Under-construction stock: 31.3 msf, current stock: 91.2 msf, vacancy: 8.9%. Major areas: Southern Suburbs I, II, III, SBD Chennai; demand led by BFSI, Health Care, IT/ITeS, Co-working.
  • Ahmedabad – Under-construction stock: 9.6 msf, current stock: 32.3 msf, vacancy: 20%. Key markets: Gift City, CBD Ahmedabad, SBD Ahmedabad; demand mainly from IT/ITeS, BFSI, Materials, and Commercial Services.

Market Balance & Future Outlook

India’s Grade A office market remains landlord-favorable, with a demand-to-supply ratio of ~1.2x in CY’25, while occupiers continue to retain flexibility. Over half of the ongoing construction is concentrated in Bengaluru and Hyderabad, keeping future supply aligned with demand hotspots. GCC expansion, rising outsourcing mandates, and the shift toward large, efficient campuses are expected to sustain strong absorption levels. Vacancy is likely to remain moderate, with prime micro-markets tightening due to flight-to-quality demand, while rentals continue to firm up, particularly in technology-driven and GCC-focused corridors, reinforcing India’s position as a preferred global office and capability hub despite ongoing global uncertainties.

Conclusion: A Market Built for the Long Term

Crossing 1.04 billion sq. ft. is not just about size. It reflects maturity, discipline, and institutional strength in India’s office sector. Development is more structured. Capital is more patient. Leasing decisions are increasingly data-driven.

As the market moves beyond the billion-square-feet milestone, the focus now shifts from expansion to efficiency and asset quality. The next phase will be defined by smarter growth, stronger assets, and sustained long-term performance across India’s leading office hubs.

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Suzlon Vice Chairman Girish Tanti’s Wife Buys Rs 123.5 Crore Luxury Home in Worli

Suzlon Vice Chairman Girish Tanti's Wife Buys Rs 123.5 Crore Luxury Home in Worli

Mumbai’s ultra-luxury home market continues to experience historic transactions, indicating strong demand at the upper end. Radha Tanti, angel investor and wife of Suzlon Energy executive vice chairman Girish Tanti, has purchased a premium apartment in Worli for Rs 123.5 crore, according to property documents accessed by CRE Matrix. The acquisition demonstrates the area’s popularity among business families and wealthy investors. It further strengthens Worli’s reputation as one of Mumbai’s most desirable premium residential areas.

Property Overview and Transaction Details

The Rs. 123.5 crore transaction includes a premium apartment on the 44th functional floor of Artesia, a super-luxury residential skyscraper near the Doordarshan Centre in Worli. The apartment has an RERA carpet area of roughly 6,772.28 sq ft. It also includes 367.05 sq ft of balcony or open terrace space, making it one of the biggest properties in the development. The seller of the property is K Raheja Corp’s Ravi Raheja and Sumati Raheja. A stamp duty of about Rs 6.18 crore was paid for registration.

Worli’s Growth as a Luxury Residential Hotspot

Worli continues to attract ultra-high-net-worth individuals because of its central location and improved connectivity, aided by infrastructure developments like the Bandra-Worli Sea Link and the coastal road, which improve access to key commercial hubs such as Lower Parel and BKC.

What This Deal Signals for Mumbai Luxury Housing

The luxury housing segment in Mumbai continues to show stable demand trends. Large-format homes in prime locations remain in limited supply. Buyers with strong balance sheets continue to prefer tangible assets. This combination supports steady demand at the top end of the market. Buyers remain selective, but premium homes in strategic locations continue to close high-value deals.

In a recent transaction, a US-based Non-Resident Indian (NRI) purchased two sea-facing luxury apartments in Bandra West, Mumbai, for a staggering ₹56 crore.

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Pune Emerges as India’s Strongest Housing Market in 2025

Pune Emerges as India’s Strongest Housing Market in 2025

Pune has once again proven why it remains one of India’s most resilient and dynamic residential real estate markets. According to the Pune Housing Report – January 2026 by CRE Matrix in collaboration with CREDAI Pune, the city recorded the highest housing unit sales among all Indian metros in CY 2025, reinforcing its position as the country’s most balanced housing market.

Record-Breaking Sales Volumes

In CY 2025, Pune witnessed the sale of approximately 81,000 residential units, the highest among major metros, including Mumbai, Bengaluru, Hyderabad, and Delhi-NCR. What makes this achievement even more notable is that Pune is a non-capital city, yet it continues to outperform larger and more expensive markets.

This sustained demand highlights Pune’s strong end-user base, driven by steady job creation, educational institutions, and a high quality of life.

Market Value Shows Long-Term Strength

While volume growth has remained stable, the value of homes sold in Pune reached ₹63,000 crore in CY 2025, reflecting the city’s long-term structural growth. Over the last four years, the total value of residential transactions has increased by nearly 70%, growing at a CAGR of 14%.

This trend points to rising purchasing power and a gradual shift toward larger and better-quality homes.

Pune: The Most Affordable High-Performing Metro

Despite recording the highest unit sales in the country, Pune remains one of the most affordable metro housing markets. In CY 2025, the average ticket size of homes sold stood at ₹78 lakh—significantly lower than Hyderabad (₹1.98 Cr), Bengaluru (₹1.71 Cr), Mumbai (₹2.24 Cr), and Delhi-NCR (₹3.68 Cr).

This strong balance between affordability and transaction scale continues to be Pune’s key competitive edge. Notably, the average unit value has risen to ₹78 lakh in CY’25, reflecting a robust 44% growth since CY’21.

Premium Housing on the Rise

One of the most defining trends of the Pune housing market is the rapid growth of premium and luxury segments.

  • Homes priced ₹1–2 crore saw nearly 300% growth in units sold since CY 2021
  • Homes priced above ₹2 crore recorded a 250% increase in sales during the same period

This shift is particularly visible in Central, North West, and North East Pune, signalling a clear transition toward premium urban living.

Micro-Market Insights

Different regions of Pune have shown distinct growth patterns:

  • Central Pune continues to attract premium buyers, with strong growth in ₹1 Cr+ segments
  • North and North West Pune remain volume drivers while rapidly upgrading to higher ticket sizes
  • North East Pune recorded the highest growth in average home values, driven by areas like Kharadi, Viman Nagar, and Wagholi
  • South and South East Pune continue to offer affordability, appealing to first-time homebuyers and upgraders

Supply Challenges, Demand Resilience

While housing demand has remained robust, the market has faced challenges due to delays in project approvals, leading to a decline in new launches. Despite this, sales momentum has held firm—underscoring the deep-rooted confidence buyers have in Pune’s real estate market.

With timely policy interventions and smoother approval processes, Pune’s residential sector is well-positioned to scale new highs. The city’s ability to offer livability, affordability, and economic opportunity places it in a league of its own among Indian metros.

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Thane City Housing Market Trends: Demand, Supply & Price Growth Since 2022

Thane City Housing Market Trends

Thane’s housing market value has gradually expanded, driven by constant demand and growing prices in the mid and premium segments. According to the Thane Housing Report – Jan’26 by CRE Matrix and CREDAI-MCHI Thane, while affordable and mid-range residences dominated volume, higher-priced apartments accounted for a rising share of total sales value, indicating market appreciation and buyer upgrading.

Thane City Housing Overview Since 2022

Thane’s apartment housing market expanded significantly between 2022 and 2025, owing to increased demand from Mumbai and around the world, with purchasers looking for better value and lifestyle. Property prices have consistently climbed, with 2BHK apartments dominating new launches, appealing to end-users and middle-class families. Because of the scarcity of land, large townships, skyscrapers, and contemporary facilities became more popular. Thane has been one of the fastest-growing residential hubs in the MMR thanks to improved connectivity, metro developments, and social infrastructure.

Rising Demand, Limited Supply, and Market Value

Since 2022, demand in Thane has remained continuously strong, with quarterly sales stabilizing at approximately 3,250 units, indicating consistent end-user desire. Despite a 50% decline in new launches in CY ’25, sales remained consistent at roughly 3,250 units per quarter, demonstrating continuing buyer interest. The imbalance has resulted in an 8% drop in unsold inventories, reaching 55.6k units, indicating robust absorption. Overall, low supply combined with constant demand has helped protect prices and strengthen Thane’s position as a robust residential market within the MMR. The mismatch has led to a progressive decrease in unsold inventories (~8%), indicating an improved market balance. 

Thane City Housing in a Nutshell

Thane City’s apartment market value has steadily increased throughout the years, aided by consistent demand and constrained supply. Despite a significant reduction in new product introductions in recent years, sales velocity has remained consistent, resulting in a progressive decline in unsold inventories. This demand-supply imbalance has helped sustain and push market values upward, cementing Thane’s position as a robust and appealing residential choice in the MMR.

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JP Morgan Leases 13 Lakh Sq Ft in Powai in Landmark Office Deal

JP Morgan Leases 13 Lakh Sq Ft in Powai in Landmark Office Deal

JP Morgan Services India Private Limited has leased over 13 lakh sq ft of built-to-suit commercial office space in Powai, Mumbai. This is one of the largest office leasing transactions recorded in India. The deal involves a total rental commitment of approximately ₹5,200 crore over a 20-year tenure, according to property registration documents accessed by CRE Matrix. The space will house the American investment bank’s global capability centre (GCC).

Lease Details: Rentals, Tenure, and Financial Commitments

The office space is located at One Forest Avenue, Powai. In this transaction, BSS Property Ventures Private Limited and Rajeshwar Property Ventures Private Limited have leased the property to JP Morgan Services India. Both entities operate through an SPV backed by Brookfield Properties, which holds a stake in the development.

Under the lease terms, the agreement starts at a monthly rent of ₹39 crore. This translates to a starting rental of ₹300 per sq ft for the approximately 13 lakh sq ft leased area. Additionally, the built-to-suit office will span 19 floors, including the ground floor, and offer around 1,300 parking spaces.

As part of the transaction, a security deposit of ₹468 crore has been paid. Further, the deal attracted a stamp duty of ₹125 crore, calculated on a 20-year tenure. It also includes a registration fee of ₹30,000. Meanwhile, while the initial lease term is 10 years, rentals will escalate by 4.5% annually.

Brookfield’s GCC Development Strengthens Powai’s Office Market

Brookfield Properties earlier announced a ₹9,000 crore investment to develop a 2 million sq ft global capability centre (GCC) in Powai. The campus is all set to become Asia’s largest GCC for a multinational bank.

The 6-acre development, slated for completion by 2030, will consolidate JP Morgan’s Mumbai operations into a single, state-of-the-art campus.

The transaction highlights India’s growing dominance as a global GCC hub and reinforces Powai’s status as a preferred office micro-market, driven by strong connectivity, a deep talent pool, and a mature mixed-use ecosystem.

JP Morgan’s Growing Office Footprint in India

JP Morgan is one of the world’s leading financial services firms, with a strong and expanding presence in India. Over the years, the firm has steadily scaled its office footprint in Mumbai. This reflects India’s importance as a strategic global capability and talent hub.

In another transaction, JP Morgan Services India Private Limited leased over 2.71 lakh sq ft of office space in the same location of Powai.

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