South Mumbai’s luxury housing market continues to attract high-value transactions. A premium apartment in Lower Parel recently sold for over ₹60 crore, according to data accessed by CRE Matrix. This deal reflects sustained interest from high-net-worth buyers in prime micro-markets.
Premium Transaction at Kalpataru One
The transaction involves a luxury apartment at Kalpataru One in Lower Parel. Shirish Poonglia and Shivin Poonglia jointly purchased the apartment from Kalpataru Properties Limited.
The deal was registered on March 25, 2026. The total transaction value stands at ₹60.39 crore. Buyers paid ₹3.62 crore in stamp duty, indicating the scale of the investment.
The apartment offers a carpet area of 6,299 sq ft along with a 638 sq ft balcony. This makes it one of the larger configurations within the project. The deal also includes five dedicated car parking spaces, a key feature for ultra-luxury buyers.
Large-format homes continue to gain traction among affluent buyers. These homes offer more space, exclusivity, and lifestyle-driven amenities.
Lower Parel Emerges as a Luxury Hotspot
Lower Parel remains one of Mumbai’s most sought-after locations. It combines commercial hubs with premium residential developments, making it ideal for high-net-worth individuals.
The area offers strong connectivity, proximity to business districts, and access to high-end social infrastructure. These factors continue to drive demand despite limited inventory.
Strong Market Confidence in the Luxury Segment
This transaction highlights ongoing confidence in Mumbai’s luxury real estate market. Established micro-markets like Lower Parel continue to see resilient demand. Limited supply and consistent buyer interest are pushing up transaction values.
Market activity suggests that premium housing in South Mumbai will remain a key growth driver. High-value deals like this reinforce the shift toward larger, high-quality homes among elite buyers.
Recent Transactions
Mumbai’s luxury housing market continues to witness high-value transactions, driven by strong demand from affluent buyers. Recent deals highlight a clear preference for spacious homes in prime locations. This indicates confidence in the city’s premium real estate segment and its long-term growth potential.
In a recent transaction, promoters of K Raheja Corp, Ravi Raheja and his wife Sumati Raheja, sold a 6,772 sq ft apartment at Raheja Artesia in Worli for ₹121 crore. In another transaction, Radha Tanti, angel investor and wife of Suzlon Energy executive vice chairman Girish Tanti, purchased a premium apartment in the same locality for Rs 123.5 crore.
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