Mumbai’s luxury real estate segment witnessed a significant transaction with a real estate firm director purchasing a sea-facing apartment for a staggering ₹97.40 crore. This high-value deal highlights the continued presence of high net-worth individuals (HNWIs) in the city’s premium property market.
The Mumbai real estate market continues to attract big spenders, with a recent deal grabbing headlines. Rajesh Labhubhai Lakhani, director of Woodstock Estate LLP, a real estate firm, has reportedly purchased a luxurious sea-facing apartment for ₹97.40 crore.
This opulent property is situated on the 44th floor of the Oberoi 360 West project in the posh Worli area. Spanning a sprawling 14,911 square feet, the apartment offers breathtaking views of the Arabian Sea and comes with additional perks, including an 884 square feet private area and seven car parking spaces, as per documents accessed by Zapkey, a real estate data platform.
This high-value transaction is indicative of a sustained demand for luxury apartments in Mumbai, particularly among HNWIs. Worli, known for its upscale residences and proximity to the business district, remains a preferred location for such buyers.
Industry analysts suggest that several factors contribute to the appeal of Mumbai’s luxury real estate market. These include the city’s strong economic fundamentals, a growing affluent population, and a limited supply of premium properties, particularly those offering unobstructed sea views.
This deal follows a similar high-profile purchase in 2021, where a diamond firm from Surat acquired a bungalow in Worli for a staggering ₹185 crore. These transactions highlight the continued presence of ultra-luxury buyers in the Mumbai market, despite potential economic fluctuations.
While the overall real estate market may experience fluctuations, Mumbai’s luxury segment appears to be on solid ground. This recent ₹97 crore deal underscores the enduring appeal of premium properties in India’s financial capital, offering a glimpse into the exclusive world of Mumbai’s high-end real estate.
