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RBI Acquires Prime 4.6-Acre Nariman Point Land from MMRCL for ₹3,472 Crore

RBI buys plot in Nariman Point

In one of the biggest real estate transactions this year, the Reserve Bank of India (RBI) has acquired a 4.61-acre land parcel at the prestigious Nariman Point in South Mumbai for a whopping ₹3,472 crore. The deal was officially registered on September 5, attracting a stamp duty of over ₹208 crore, as documented via CRE Matrix.

The newly acquired plot holds immense strategic importance, situated near key landmarks such as the Maharashtra state government’s secretariat, Mantralaya, the Bombay High Court, and several corporate headquarters. Nariman Point has long been one of India’s most sought-after commercial real estate hubs, maintaining its premium despite the rise of newer business districts like Bandra-Kurla Complex (BKC) and Lower Parel.

Originally, the Mumbai Metro Rail Corporation Ltd (MMRCL), responsible for executing Mumbai’s metro projects, had planned to auction the land through a global tender. This marked the first time a parcel at Nariman Point had been put on the market since the area was developed as a planned commercial zone in the early 1970s. However, in January, the RBI expressed its interest in acquiring the site to expand its headquarters, leading MMRCL to cancel the tender and proceed with the direct sale.

The land is currently a vacant and open tract in Mumbai’s central business district, one of the most expensive commercial real estate markets in India. The RBI is expected to develop the site for institutional purposes, further consolidating its footprint in the city.

For MMRCL, the sale aligns with a broader effort to optimise land use and generate revenue to support ongoing metro expansion projects in Mumbai. The organisation holds several prime land parcels across South and Central Mumbai, aiming to monetise these assets to aid in the city’s growing public transport infrastructure needs.

Abhishek Kiran Gupta, CEO & Co-Founder, CRE Matrix, said, “The RBI’s ₹3,470-crore acquisition of the 4.16-acre Nariman Point plot marks a watershed moment in India’s real estate landscape. With close to 1.6 million sq ft of buildable potential, including 1,13,500 sq ft allocated for rehabilitation, this government-to-government deal not only reinforces Nariman Point’s status as Mumbai’s commercial heart but also establishes a new benchmark for premium land consolidation. Such landmark transactions, rare even by global standards, highlight the strong institutional confidence in Mumbai’s enduring role as the country’s financial epicenter.”

As Mumbai continues to evolve as a financial powerhouse, this landmark transaction highlights the importance of strategic land management by the government and financial institutions. The RBI’s acquisition of the Nariman Point plot reflects a long-term vision to strengthen India’s institutional infrastructure in its economic capital.

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US-Based NRI Couple Buys Two Sea-Facing Luxury Apartments in Bandra for ₹56 Crore

US NRI couple buys apartments in Bandra 1

A US-based Non-Resident Indian (NRI) couple has made headlines by purchasing two sea-facing luxury apartments in Bandra West, Mumbai, for a staggering ₹56 crore. The transaction was registered on September 3, 2025, and is among the highest-value deals recorded in the area, according to property registration documents accessed by CRE Matrix.

The two apartments are part of the prestigious Satguru Kismet project, located in a prime neighborhood close to Sachin Tendulkar’s bungalow, the vibrant Carter Road promenade, and the upcoming Bandra-Versova Sea Link connector. Each apartment spans 2,189 sq ft, with an additional balcony deck area of around 120 sq ft, offering panoramic sea views and ample living space. 

The apartments were sold at a record price of ₹1.27 lakh per sq ft, which places them among the highest rates in Bandra West. Industry experts noted that while some apartments in Pali Hill, Bandra West, have been sold at rates exceeding ₹1.40 lakh per sq ft, such sea-facing properties continue to attract ultra-premium pricing due to their location and exclusivity.

The financial structure of the deal reveals that the NRI couple made a significant down payment of nearly ₹10 crore to the developer, with the remaining balance payable in phased installments. Additionally, the buyers paid a stamp duty of ₹1.68 crore and a registration fee of ₹30,000 for each apartment, in line with regulatory requirements.

Currently, Satguru Kismet is an under-construction project with a RERA deadline set for December 2027. Given its ultra-prime location, sea-facing view, and high-end specifications, the project continues to attract interest from NRIs and wealthy individuals seeking luxury homes in Mumbai.

Bandra West has long been a favorite among affluent homebuyers, offering a unique blend of scenic coastal views, strong connectivity, and access to Mumbai’s best lifestyle amenities. The area’s status as a residential and commercial hotspot remains unchallenged, further driven by infrastructure developments such as the upcoming Bandra-Versova Sea Link. This landmark deal highlights the continued demand for high-value properties in Mumbai and reflects the confidence of NRIs in the city’s real estate market as a strong investment opportunity.

Recent Transactions

Recent high-value property deals highlight Mumbai’s booming luxury real estate market, with NRIs and investors acquiring premium sea-facing apartments in Bandra and nearby localities. In a recent transaction, Pradeep Navratna Gupta, Co-Founder and Vice Chairman of Anand Rathi Wealth, purchased a sprawling apartment at Lodha Sea Face in Worli for a staggering ₹1,31.74 crore.

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PVR INOX Secures 15-Year Lease for 10-Screen Megaplex at Borivali’s Sky City Mall

PVR Inox Leases retail space in Borivali

PVR INOX Ltd has expanded its footprint in Mumbai with a major leasing deal at Borivali’s Sky City Mall. According to property registration documents accessed by CRE Matrix, the cinema giant has leased 43,534 sq. ft. of retail space from Oberoi Realty for a 15-year term.

The agreement, registered on July 9, 2025, outlines a monthly rental of ₹91.42 lakh or 20% revenue share (biannually), whichever is higher. Additionally, PVR INOX has paid a security deposit of ₹10.97 crore, with a clause that mandates a 15% escalation every 36 months. The transaction also includes a five-year lock-in period, ensuring long-term stability for both parties.

Although the fit-out access was granted in March 2024, the rent commencement has been scheduled for July 30, 2025.

Coinciding with the lease registration, PVR INOX announced on August 22, 2025, the launch of a 10-screen megaplex at Sky City Mall. Spread across 43,500 sq. ft., the multiplex is designed to deliver a premium cinematic experience.

The megaplex features foyers, lounges, and 10 uniquely designed auditoriums with a combined seating capacity of 1,372. This opening marks another milestone in PVR INOX’s strategy of strengthening its presence in Mumbai’s suburban markets, where demand for modern entertainment infrastructure continues to rise.

The Borivali megaplex aligns with PVR INOX’s ongoing expansion plans as it consolidates its leadership position in the Indian multiplex industry. By entering into a long-term agreement with Oberoi Realty, the company ensures a strong foothold in one of Mumbai’s busiest suburban retail hubs.

With Borivali emerging as a vibrant residential and commercial catchment, the Sky City Mall megaplex is expected to attract significant footfall. This has further boosted the area’s retail and entertainment ecosystem.

Recent Transactions

Mumbai’s commercial real estate market continues to witness high-value transactions, with leading developers, corporates, and retailers securing premium spaces across the city. From long-term office leases to retail expansions, these deals highlight strong demand and confidence in Mumbai’s growth potential. 

In a recent transaction, Global tech giant Apple leased 12,616 sq ft of premium retail space in Mumbai’s fast-growing suburb of Borivali. In another transaction, Tesla leased a 24,500 sq. ft space in Lodha Industrial and Logistics Park, Kurla West, to set up its first vehicle service center in India.

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Anand Rathi Wealth’s Co-Founder Buys ₹132 Cr Flat at Lodha Sea Face, Worli

Anand Rathi Wealth’s Co-Founder Buys ₹132 Cr Flat at Lodha Sea Face, Worli

Mumbai’s luxury real estate market continues to make headlines, with yet another record-breaking transaction in Worli. Pradeep Navratna Gupta, Co-Founder and Vice Chairman of Anand Rathi Wealth, along with his wife Preeti Pradeep Gupta, has purchased a sprawling apartment at Lodha Sea Face for a staggering ₹1,31.74 crore.

The deal, executed on August 20, 2025, was registered with Lodha Developers Ltd as the seller, according to documents accessed via CRE Matrix. The couple paid ₹7.90 crore in stamp duty for the property.

The sprawling apartment is located on the 40th floor of the project, identified as Apartment No. 4001 in Wing A. With a carpet area of 10,538 sq. ft. and seven dedicated car parkings, the residence offers both scale and exclusivity. 

What makes this deal stand out even more is the project’s positioning in Mumbai’s high-end market. With prices crossing ₹1.25 lakh per sq. ft., Lodha Sea Face sits at the top of the city’s most desirable addresses.

Highlighting the significance of the transaction, Abhishek Kiran Gupta, CEO and Co-Founder of CRE Matrix, remarked that this ₹130+ crore deal is yet another validation of Mumbai’s unmatched position in India’s luxury housing market. He noted that Worli continues to attract top business leaders and wealth creators, reaffirming the city as the ultimate destination for luxury real estate investment.

These transactions highlight a growing trend where HNIs and business leaders are increasingly investing in luxury real estate. More than just an upgrade in lifestyle, it represents a reliable long-term investment.

Developed by the Lodha Group, Lodha Sea Face is one of the most exclusive residential towers in Mumbai. It combines expansive layouts with bespoke amenities and unmatched sea views, making it a top choice for India’s elite.

As Worli cements its status as a luxury residential hub, deals like these reaffirm Mumbai’s reputation as the undisputed capital of India’s luxury housing market.

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Eaton Technologies Leases 1.5 Lakh Sq Ft Office Space in Pune’s Baner from K Raheja Corp Subsidiary

K Raheja Corp leases out office space

Eaton Technologies India has made a significant office space commitment in Pune, leasing 150,000 sq ft at Aditya Shagun Infinity IT Park in Baner for a 10-year term. According to property registration documents accessed by CRE Matrix, the deal carries a potential rental outflow exceeding ₹250 crore over the lease period.

The leased space, spread across three floors, has been taken from Asterope Properties Pvt Ltd—part of K Raheja Corp—at a starting monthly rent of ₹1.65 crore (₹110 per sq ft) with an annual escalation of 4.5%. The agreement includes a five-year lock-in period, a security deposit of ₹9.9 crore, and parking for 150 four-wheelers and 150 two-wheelers. Eaton also holds the option to lease an additional 47,000 sq ft within the same complex.

The lease commences on July 15, 2025, with occupancy phased across three timelines—July 15, December 1, and January 15, 2026. Fit-out rent is set at ₹2,400 per sq ft per month, while common area maintenance (CAM) charges are fixed at ₹14.75 per sq ft per month.

Eaton Technologies, the Indian arm of the US-based intelligent power management company Eaton Corporation, plans to establish its Global Capability Center (GCC) at this location. This move underscores India’s growing role as a GCC hub, driven by strong talent availability, competitive operating costs, and modern infrastructure.

The deal is part of a rising trend of large, pre-committed office leases in Pune, especially in the western corridor covering Baner, Balewadi, and Hinjewadi. Over the past 18 months, this region has attracted major commitments from multinational corporations across technology, engineering, and financial services sectors.

With its strategic location and high-grade infrastructure, Baner continues to position itself as a preferred destination for companies looking to set up large-scale operations in India.

Recent Transactions

Pune’s commercial real estate market has seen a surge in activity recently, with major corporates securing premium office spaces across key business districts. This reflects strong demand driven by IT, engineering, and global capability centres expanding operations in the city.

In a similar transaction earlier this year, Citigroup Inc. secured over 7.7 lakh sq ft of office space through a long-term lease in Pune’s Kharadi. In another transaction, Awfis Space Solutions leased 1.97 lakh sq ft of office space in the same locality of Pune.

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Tesla Leases 8,200 Sq Ft Showroom in Delhi’s Aerocity at ₹17.22 Lakh Per Month

Tesla Leases in Aerocity Delhi

Elon Musk’s Tesla India Motors and Energy Pvt Ltd is accelerating its India expansion with a premium lease deal in the capital. According to property documents accessed by CRE Matrix, the electric vehicle maker has signed a nine-year agreement for an 8,200 sq ft showroom space in Delhi’s Aerocity, a high-profile hospitality and commercial hub located near Indira Gandhi International Airport. 

The lease, registered on July 30 with Oak Infrastructure Pvt Ltd, is valued at ₹210 per sq ft per month, amounting to ₹17.22 lakh in monthly rent. Tesla has also taken 10 parking slots at ₹6,000 per month each, alongside a security deposit of ₹1.03 crore.

The sublease begins on March 15, 2025, with a 120-day fit-out period before the commencement of rent payments on July 13, 2025. The agreement includes a three-year lock-in period, a 15% rent escalation every three years, and common area charges of ₹33.5 per sq ft per month, backed by a refundable CAM deposit of ₹16.48 lakh.

This Aerocity lease marks Tesla’s second major retail space in India following its high-profile entry into the market last month. On June 15, the company leased its first showroom at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex, taking 4,000 sq ft in one of the country’s most expensive commercial districts for ₹23.38 crore over five years, and inaugurated it on July 15.

Tesla has not limited its expansion to retail spaces alone. Earlier, the company also secured nearly 51,000 sq ft of super built-up area at Orchid Business Park on Sohna Road, Gurugram, for a nine-year term at a starting monthly rent of ₹40.17 lakh. With prime locations now locked in across Mumbai, Gurugram, and Delhi, Tesla is positioning itself strategically in India’s most influential business hubs, setting the stage for an aggressive brand rollout in the world’s third-largest automobile market.

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Tesla Expands India Presence with 33,000 Sq Ft Lease in Gurugram for Service and Delivery Operations

Tesla Leases Space for Service center in Gurugram (2)

In a major step towards strengthening its operations in India, global electric vehicle (EV) giant Tesla has leased over 33,000 square feet at Orchid Business Park on Gurugram’s Sohna Road, according to documents accessed by real estate analytics platform CRE Matrix. This marks Tesla’s continued commitment to establishing a robust EV ecosystem in the country.

The lease agreement, signed on July 28 under the name Tesla India Motors and Energy Pvt. Ltd., is valid for nine years with a three-year lock-in period. The facility will serve as a multi-functional centre—housing a service centre, delivery hub, and retail outlet for Tesla’s growing customer base in the Delhi-NCR region.

As part of the deal, Tesla has taken over the entire ground floor of the Orchid Business Park, covering 33,475 sq ft. The monthly rent is set at Rs 40.17 lakh, calculated at Rs 120 per sq ft, with an annual escalation of 4.75%. The automaker has also paid a stamp duty of Rs 20.69 lakh and deposited Rs 2.41 crore as a security deposit. Additionally, Tesla has secured 51 dedicated car parking slots as part of the transaction.

This new Gurugram facility adds to Tesla’s rapidly growing footprint in India. The company is also set to unveil its second showroom in the country on August 11, located at Worldmark 3 in Aerocity, New Delhi, near the IGI Airport. This follows the successful launch of Tesla’s first Indian showroom—a 4,000 sq ft space at Maker Maxity Mall in Mumbai’s Bandra Kurla Complex (BKC).

Earlier in May 2025, Tesla leased over 24,000 sq ft of warehousing space from Lodha Logistics Park in Kurla (West), Mumbai, at a monthly rent starting from Rs 37.5 lakh. That move underlined Tesla’s focus on building a strong backend supply chain to support vehicle delivery and after-sales service in India.

With these strategic leases, Tesla appears to be laying the groundwork for a full-fledged India launch, potentially ahead of local production or larger import volumes. As the country ramps up infrastructure and incentives for EV adoption, Tesla’s moves indicate long-term confidence in the Indian market.

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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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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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