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K Raheja Corp Subsidiary Acquires 7.43 Acres in Mahalunge, Pune for ₹195 Crore

K raheja Acquires land parcel in Pune

In a major land acquisition move, Mumbai-based real estate major K Raheja Corp, through its subsidiary KRC Queens Pvt Ltd, has purchased a 7.43-acre land parcel in Mahalunge near Pune’s thriving Hinjewadi IT hub. According to property registration data accessed by CRE Matrix, the transaction was valued at ₹195 crore and was officially registered on July 21, 2025.

The land has been acquired from Pune-based Mahalunge Real Estate Developers Pvt Ltd and is reportedly earmarked for a large-scale township development. With growing interest in integrated township models in Pune’s rapidly expanding western corridor, this acquisition signals K Raheja Corp’s continued focus on high-potential micro-markets.

The deal also involved a stamp duty payment of ₹13.67 crore, reflecting the premium nature of the parcel and the location’s rising importance as a real estate hotspot.

Mahalunge, located adjacent to Hinjewadi and Baner, is part of the Pune Metropolitan Region Development Authority’s (PMRDA) smart city development initiatives. With a blend of connectivity, infrastructure upgrades, and residential demand, the area has emerged as a magnet for large-scale real estate investments.

K Raheja Corp’s entry reinforces the trend of top-tier developers staking claim in Mahalunge’s future. With this acquisition, the company is poised to contribute to the next phase of Pune’s urban transformation.

Pune’s real estate landscape is witnessing momentum, with several notable land deals shaping its growth trajectory. In a similar transaction, in November 2024, The Lodha Group purchased a 2.82-acre land plot in Pune’s Hinjewadi for approximately Rs 111 crore. 

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Mirzapur Actor Shweta Tripathi Buys ₹3 Cr Apartment in Chembur’s Supreme Boulevard

Shweta Tripathi Buys Chembur Apartment

According to documents accessed by CRE Matrix, acclaimed actor Shweta Tripathi, best known for her role in the hit series Mirzapur, has purchased a 3 BHK apartment in Chembur, Mumbai, for ₹3 crore. The property is located in Supreme Boulevard, a residential project developed by Mumbai-based real estate firm Supreme Universal.

The apartment spans 938 sq ft of usable area and is situated on the 9th floor of the building. Registered on July 2, 2025, the transaction involved a stamp duty of ₹15 lakh and registration charges of ₹30,000. Notably, Shweta Tripathi availed a stamp duty concession under the Maharashtra government’s policy that offers financial relief to women homebuyers.

The per square foot rate for the apartment stands at ₹32,000, and the deal includes two car parking spaces—an increasingly valued asset in the city’s competitive housing market.

Chembur, a suburb in eastern Mumbai, has experienced a surge in popularity in recent years, partly due to its improved connectivity and the influx of prominent developers. The area gained significant spotlight following two major acquisitions by Godrej Properties – the purchase of the iconic Raj Kapoor Studio and the Raj Kapoor bungalow. The current building under development on that land is part of Godrej’s broader strategy to redefine Chembur’s residential landscape.

With well-established social infrastructure and proximity to major business districts, Chembur continues to attract both end-users and investors alike. Shweta Tripathi’s recent investment further highlights the area’s growing appeal among Mumbai’s high-profile residents.

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Mumbai’s Luxury Real Estate Market: A New High in 2025

Mumbai luxury housing market H1CY 2025

Mumbai’s luxury housing market has surged to record levels in the first half of 2025. According to the Sotheby’s International Realty and CRE Matrix H1 CY’25 Luxury Housing Report, sales of high-end homes priced at ₹10 crore and above reached an all-time high, with total transactions hitting around ₹14,750 crore in H1 2025. Demand grew steadily as wealthy individuals and lifestyle upgraders steered the market forward. The city reaffirmed its position as India’s top luxury property destination.

Record Sales and Market Growth

Mumbai’s luxury segment recorded ₹14,750 crore in sales in the first half of the calendar year 2025 (H1 CY25). This is the highest half-yearly figure ever for homes priced above ₹10 crore. The total sale value rose about 11 % year-on-year compared to H1 2024. Both primary sales (new launches) and secondary sales (resale) contributed strongly.

Developers and brokers reported that properties in the ₹20–40 crore bracket saw especially strong growth, with sales values jumping sharply from previous years. Homes priced above ₹40 crore also saw a significant rise in transactions, indicating strong confidence at the very top of the market.

A record 1,335 luxury units were sold in the last 12 months, the highest ever in any 12-month period.

Who Is Buying and Why

The main drivers of demand were high-net-worth individuals (HNIs) and lifestyle upgraders who sought larger, better-located homes. Buyers showed a willingness to pay premium prices for space, views, and top-class amenities.

About 24 % of luxury home purchases were made by buyers relocating from beyond traditional luxury zones like South Mumbai. This shows a wider interest in luxury living across the metropolitan area.

Mumbai’s luxury home market also attracted buyers from outside the city and overseas investors. Many of these buyers view high-end real estate both as a status asset and a wealth preservation play, especially amid growing personal wealth and economic confidence.

Top Micro-Markets and Trends

Certain neighborhoods stood out for their luxury appeal. Worli remained the most sought-after luxury location, accounting for a large share of total sales value. Bandra West, Tardeo, Prabhadevi, and Malabar Hill also posted strong performance with double-digit growth.

Developers reported that the primary market—newly built premium apartments—made up around three-quarters of total sales volume, while resale sales remained strong as well.

Buyers preferred apartments of 2,000–4,000 sq ft, which accounted for about 70 % of sales. This reflects a shift toward larger, more comfortable living spaces.

Bottom Line

Mumbai’s luxury real estate market reached historic levels in H1 2025. Record transaction values and expanding demand reflect strong confidence among wealthy buyers. Luxury homes are now central to Mumbai’s housing story. With broad buyer interest and new high-end launches, the momentum looks set to continue.

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Asha Bhosle Sells Luxury Apartment in Pune’s Panchshil One North for ₹6.15 Crore

Asha Bhosle Sells Apartment

Legendary singer Asha Bhosle, along with her son Anand Bhosle, has sold their 3,401 sq ft luxury apartment in Pune for ₹6.15 crore. According to the documents accessed by CRE Matrix, the transaction was registered on July 14, 2025. This transaction reflects the consistent appreciation of high-end real estate in Pune’s eastern corridor.

According to the documents accessed, Bhosle originally purchased the apartment in February 2013 for ₹4.33 crore. With the recent sale, the iconic singer has earned a return on investment of approximately 42% over a 12-year holding period.

The apartment is located in Panchshil One North, a premium residential development near Magarpatta City, a thriving IT and commercial hub in Pune. The unit, situated on the 19th floor, includes a 182 sq ft terrace and was sold along with five dedicated parking spaces—a rare and valuable amenity in urban residential markets.

The property has been acquired by two Pune-based buyers, Prerna Gaikwad and Sangram Gaikwad. Public records reveal that over ₹43 lakh was paid in stamp duty, along with a ₹30,000 registration fee.

Strategically located, Panchshil One North offers seamless connectivity. It is approximately 9 km from Pune Airport, 6 km from Kharadi, an emerging IT and business district, and 25 km from Hinjewadi, Pune’s largest IT hub. The project, developed by Panchshil Realty, is known for its upscale residences, world-class amenities, and proximity to key business zones.

This transaction reaffirms the continued demand for luxury homes in well-connected and infrastructure-rich micro-markets, such as Magarpatta and Kharadi. With increasing interest from end-users and investors alike, Pune’s premium residential segment continues to show robust capital appreciation and investment potential.

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Ahmedabad’s Commercial Ascent: How BFSI Demand Is Transforming the Office Market

Ahmedabad’s Commercial Ascent: How BFSI Demand Is Transforming the Office Market

Ahmedabad, long known for its vibrant culture and business heritage, is rapidly emerging as one of India’s most promising commercial real estate hubs. Recent data shows a clear shift in the city’s office market dynamics — now trending firmly in favour of landlords.

CREDAI+Cre Matrix’s Ahmedabad Office Report – H1 CY’25 highlights that the city is fast emerging as a business hub. The market is transitioning into a landlord-favourable phase. Office rentals are being led by the BFSI sector. BFSI tenants are commanding a 25.5% premium over Grade A/A+ spaces in the first half of the year.

A Market on the Upswing

At the heart of this transformation is soaring demand from the Banking, Financial Services & Insurance (BFSI) sector. In the first half of 2025, this segment accounted for 56% of all office leasing activity in Ahmedabad. This was way outpacing other industries. Trailing behind were IT/ITES firms with a 30% share and industrial occupiers at around 8%.

This surge in demand is reflected in market rents. Grade A and A+ office space now commands about 25.5% more in market rent than earlier contracted rents. Therefore, this is a clear signal that landlords now have stronger pricing power. 

Healthy Supply and Strong Momentum

Ahmedabad’s office stock is roughly 30.5 million sq. ft. of Grade A space, with a vacancy rate of about 19.6%. This indicates solid uptake by businesses. Developers are optimistic, projecting nearly 9.7 million sq. ft. of new office space by 2030. 

Interestingly, the city maintained a balanced supply-demand ratio in H1 2025, with new space added matching the volume leased. This is a rare and healthy sign of commercial market stability. 

GIFT City: A Growth Engine

A major driver of this commercial boom is Gujarat International Finance Tec-City (GIFT City). In fact, it is India’s first operational smart city and International Financial Services Centre (IFSC). Around 35% of the upcoming office supply until 2027 is expected in GIFT City, underlining developers’ confidence in the area’s future. 

With major projects such as Shilp Centrica, Trogon Twin Towers, and The Goodwill Tower IT SEZ underway, GIFT City is quickly becoming a magnet for corporations and investors alike. 

What This Means for Ahmedabad

For landlords and investors, Ahmedabad’s office market presents exciting opportunities. Rising rents and strong leasing activity — especially from BFSI and tech firms — suggest a landlord-favourable environment that’s hard to ignore. 

From a broader economic perspective, Ahmedabad’s commercial evolution signals the city’s growing stature as a national business destination, attracting firms seeking alternatives to traditional metro markets — thanks to a mix of cost advantages, strategic location, and improved infrastructure. 

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Golf Links Bungalow Sold for ₹100 Crore in Lutyens’ Delhi Luxury Deal

Golf Links Bungalow sold for Rs 100 crore

Yashwant Singh, a member of a Rajasthan royal family, has purchased a bungalow in Delhi’s upscale Golf Links area for a staggering ₹100 crore, according to property registration records accessed via CRE Matrix.

The transaction, registered on June 12, 2025, includes a land parcel of 588.97 sq. m with a built-up area of 867.33 sq. m. Singh has reportedly paid ₹7 crore in stamp duty and corporation tax. The seller of the property is Anu Jindal, currently residing in The Camellias, Gurugram. Singh’s address is listed as the prestigious APJ Abdul Kalam Road, New Delhi.

The bungalow, true to Lutyens’ charm, is a 2.5-storey structure that includes a basement, ground and first floors, a barsati (terrace room), and dedicated servant quarters.

Experts say that this deal reaffirms the sustained allure of the Lutyens Bungalow Zone (LBZ), where demand far exceeds supply. Golf Links, in particular, remains one of the most coveted addresses in the capital. With very few listings at any time, buyers often face stiff competition for a foothold in this elite enclave.

Lutyens Bungalow Zone is not just expensive; it’s also highly regulated. As a designated heritage zone, areas like Golf Links, Prithviraj Road, parts of Sunder Nagar, and Bengali Market fall under strict development norms. These include height restrictions, low floor-area ratios (FARs), and limitations on reconstruction.

While the zone is undeniably prestigious, it doesn’t always offer the spatial luxuries one might expect at this price point. In fact, few bungalows here exceed 10,000 sq. ft. of carpet area. But what it lacks in scale, it more than makes up for in legacy, location, and exclusivity.

This ₹100 crore deal is not just a headline-grabber. It’s a signal that Lutyens’ Delhi, and Golf Links in particular, remain untouched by market slowdowns or cyclical shifts. It represents a class of Indian real estate that is less about square footage and more about stature.

Recent Transactions

High-value transactions in Delhi’s luxury real estate market signal continued buyer interest in marquee addresses. In prime zones like Golf Links and across Lutyens’ Delhi, demand remains strong despite limited inventory and strict heritage development norms.

In a recent transaction, Delhi High Court senior advocate Arun Kathpalia purchased a 763 sq yard bungalow in the same Golf Links neighborhood for ₹69 crore. In another transaction, Sanjay Kukreja, a partner at ChrysCapital, and his wife, Shaveta Sharma, purchased a 1,250-square-yard bungalow for ₹155 crore.

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Lodha Developers Acquires 945 Apartments in Mankhurd for ₹567 Crore

lodha buys apartments for redevelopment

In a landmark deal that reflects shifting dynamics in Mumbai’s redevelopment landscape, Lodha Developers has acquired over 945 apartments as Permanent Transit Camp (PTC) units in the eastern suburb of Mankhurd. The transaction, valued at ₹567 crore, marks one of the largest SRA-linked asset transfers in the city to date. According to documents accessed via real estate intelligence platform CRE Matrix, the registration took place on June 3, with Lodha paying a stamp duty of ₹34.02 crore.

A Permanent Transit Camp(PTC) refers to ready-built housing that temporarily or permanently houses project-affected persons, typically slum dwellers or tenants, under SRA (Slum Rehabilitation Authority) schemes. These units help developers fulfill their rehabilitation commitments for ongoing redevelopment projects.

Lodha’s bulk acquisition spans a built-up area of 3.39 lakh sq ft and is part of a compliance-driven strategy. One of its key redevelopment projects in the Vikhroli suburb requires the company to hand over more than 50,000 sq meters of constructed area to the SRA for PTC purposes.

However, with limited land availability in Vikhroli and the long timelines associated with in situ construction, Lodha has opted for off-site fulfilment through this strategic Mankhurd purchase. The seller, in turn, monetizes part of its free sale inventory, reportedly holding over 83,000 square meters of it in the locality. This makes the deal mutually beneficial.

This move highlights the increasing relevance of Mumbai’s eastern suburbs, like Mankhurd, in large-scale urban renewal projects. It also points to a growing trend among developers to explore off-site, asset-backed solutions to meet regulatory obligations swiftly, especially as redevelopment projects face tighter timelines and heightened compliance scrutiny.

As Mumbai’s real estate market continues to evolve, transactions like these are likely to become more common, reshaping how rehabilitation components are addressed in the city’s ever-expanding redevelopment story.

Recent Redevelopment Transactions in Mumbai

Mumbai’s redevelopment landscape is witnessing a surge in high-value transactions as developers race to meet growing housing demand. From bulk SRA unit acquisitions to large-scale society redevelopments, recent deals highlight the city’s shift toward faster, compliance-driven real estate strategies.

In a recent transaction, Kalpataru signed redevelopment contracts for two housing society projects in Chembur and Goregaon, Mumbai, spanning over 1.5 million sq ft with a potential revenue of ₹2,000 crore.

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Apple Leases Prime Retail Space in Mumbai’s Borivali for Second Store in City

Apple store in Borivali

Global tech giant Apple is expanding its retail footprint in India, securing 12,616 sq ft of premium retail space in Mumbai’s fast-growing suburb of Borivali. This marks Apple’s fourth store in the country, following locations in Mumbai, Delhi, and Bengaluru.

The new Apple store will be housed in a prominent mall situated just off the Western Express Highway, a key arterial road connecting Mumbai’s suburbs. The India arm of Apple has signed a long-term lease agreement spanning 10 years and 10 months, with monthly rent starting at Rs 17.35 lakh, which works out to approximately Rs 138 per sq ft.

According to documents accessed by CRE Matrix, the lease registration finalized on May 28 reveals that Apple negotiated a 10-month rent-free period. Rent payments will begin after this initial phase, with a lock-in period of the entire lease term for the licensor and 6 years and 6 months for Apple. The agreement also incorporates structured rent escalations of 15% every 36 months to keep pace with market trends.

Additionally, Apple has agreed to a revenue-sharing model with the mall owners. The lease includes a quarterly revenue share of 2% for the first 42 months, increasing to 2.5% thereafter. Common area maintenance (CAM) charges are fixed at Rs 75 per sq ft. Apple has paid a security deposit of Rs 1.04 crore as part of the agreement.

This move follows Apple’s recent leasing of an 8,000 sq ft retail space in Bengaluru to establish its third store in India, as well as an office lease of 6,526 sq ft in Mumbai’s Bandra-Kurla Complex (BKC), one of the city’s key commercial hubs. The BKC lease commanded a monthly rental of Rs 738 per sq ft. This indicates Apple’s strategic investment in prime real estate to support both retail and office operations.

With this new retail location in Borivali, Apple is tapping into Mumbai’s rapidly developing suburban markets, catering to the growing tech-savvy population outside the city’s traditional commercial zones. The Western Express Highway area offers excellent connectivity and footfall potential, making it an attractive choice for luxury and tech brands aiming to strengthen their presence in India’s largest metropolis.

As Apple continues to expand its physical store network in India, the company is set to bring its premium retail experience closer to more consumers, supporting the growing demand for Apple products in the country.

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Tesla Leases 24,000 Sq Ft in Kurla, Mumbai for New Service Centre

TESLA leases mumbai office in Kurla

Tesla’s entry into the Indian market continues to gain momentum with the electric vehicle (EV) giant leasing a new commercial space in Kurla West, central Mumbai. The newly acquired 24,500 sq. ft facility, located in Macrotech Developers’ Lodha Industrial and Logistics Park, will serve as a dedicated vehicle service center—Tesla’s first such facility in the country.

This marks Tesla’s fourth commercial footprint in India, following the establishment of its engineering hub in Pune, its registered office in Bengaluru, and a short-term office in Bandra Kurla Complex (BKC). Notably, this is the second deal concluded by Tesla within the last two months, highlighting the company’s growing focus on operational readiness in India.

According to documents accessed by CRE Matrix, the lease agreement, signed by Tesla India Motor & Energy, spans five years with a starting monthly rent of Rs 37.53 lakh. The total rental commitment over the lease term exceeds Rs 24 crore. The license period commenced on April 20, with a rent-free phase lasting one month and ten days. Rent payments began on June 1. The lease includes an annual 5% escalation in rent and Rs 10 per sq. ft Common Area Maintenance (CAM) charges, which will also escalate by 5% annually.

This strategic move comes soon after Tesla secured its first showroom space in India at BKC, setting a record for lease rentals at Rs 881 per sq. ft per month. With this new facility, Tesla is laying the groundwork for its long-term operations in the country.

Tesla’s recent activity suggests a renewed commitment to India, particularly in light of recent policy changes aimed at attracting global EV manufacturers. The developments follow CEO Elon Musk’s meeting with Prime Minister Narendra Modi during his US visit, a turning point in Tesla’s approach toward the Indian market.

As the government continues to ease import duties and encourage local production, Tesla’s growing footprint could signal the beginning of a robust EV ecosystem in India.

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Tata Digital Leases 58,688 Sq Ft Office Space in Lower Parel for ₹12 Crore Annual Rent

Tata Digital Leases Office

Tata Digital has taken a major step toward expanding its operational footprint by leasing 58,688 sq ft of premium office space at One International Centre in Lower Parel, Mumbai. The five-year lease deal, valued at over ₹12 crore annually, highlights the company’s confidence in the strategic advantages offered by this Central Mumbai business district.

According to property registration documents accessed by CRE Matrix, Tata Digital has leased five units across the 15th, 16th, and 17th floors of the commercial complex. The lease agreement, registered on March 17, 2025, comes with a security deposit exceeding ₹7 crore. The lease officially commences on February 1, 2025, with rent becoming chargeable from July 16, 2025.

The monthly rental for the space is pegged at ₹1.05 crore, with a 5% escalation clause applicable each year. Additionally, the agreement includes 49 parking slots, while provisions for extra parking are priced at ₹10,000 per month per slot.

One International Centre is among the most sought-after commercial properties in Mumbai, housing several multinational corporations and offering modern infrastructure, prime location benefits, and strong connectivity.

Tata Digital, the technology arm of the Tata Group, was established to develop and lead its digital consumer businesses. It holds majority stakes in BigBasket, 1mg, and other strategic platforms, driving the group’s digital vision across e-commerce, health tech, and consumer services.

This move by Tata Digital not only reflects its operational expansion but also reaffirms Lower Parel’s growing stature as a hub for tech-driven enterprises and corporate headquarters. The locality’s robust infrastructure, access to key transport corridors, and a growing ecosystem of modern commercial spaces continue to attract major occupiers.

Recent Transactions

The commercial real estate sector in Mumbai continues to witness high-value leasing activity, with prominent companies securing premium office spaces across major business hubs. These recent transactions reflect strong demand, strategic expansions, and a positive outlook for India’s office space market in 2025.

In a recent transaction, Eternal Ltd, formerly Zomato, signed a five-year lease for 84,157 sq. ft. of prime office space in Andheri, Mumbai. In another transaction, Amazon renewed its lease for over 94,000 sq ft of office space at Godrej Two in Vikhroli for a five-year term, with a monthly rent of ₹1.73 crore.

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