Hermes Distillery buys 10 luxury apartments in Mumbai’s Marine Lines for ₹199 cr

Hermes Distillery Pvt. Ltd. has made a significant investment in Mumbai’s luxury residential market by acquiring 10 units in Marine Lines for Rs 199.35 crore, according to the registration data. The transaction was officially registered in January 2025. The purchased apartments are located in Prestige Ocean Tower. According to IGR property registration documents reviewed by Square Yards, the 10 transactions involve a total built-up area of 25,650 sq. ft (2,383 sq. m). The carpet area of each apartment is 2,482 sq. ft (230.58 sq. m), while the built-up area is 2,565 sq. ft (238.3 sq. M), shows the Inspector General of Registration (IGR) data accessed by realty platform Square Yards.

Marine Lines, one of South Mumbai’s most premium residential neighbourhoods, boasts of apartments, commercial establishments, and proximity to key business hubs like Churchgate and Fort.

Overlooking the Arabian Sea, the area features iconic landmarks such as Marine Drive and UNESCO-recognised Art Deco buildings. Well-connected via the Western Railway Line, Eastern Express Highway, and the upcoming Metro Line 3, it offers seamless access across Mumbai.

The transaction value per unit ranges from Rs 19.39 crore to Rs 20.54 crore, with the total transaction cost amounting to Rs 199.34 crore. The total stamp duty for the apartments is Rs 11.96 crore. Each transaction carries a standard registration fee of Rs 30,000. The purchase includes a total of 30 car parking spaces, with three allocated to each apartment.

According to RERA, Prestige Ocean Towers is a newly launched residential project by Prestige Projects Private Limited, spread across 2.3 acres and offering 2 and 3 BHK units.

Hermes Distillery Private Limited, established in 2008, is a major beverage manufacturer based in Belgaum, Karnataka, India. The company specialises in producing a diverse range of alcoholic beverages, including whisky, vodka, rum, and brandy, and operates from its manufacturing unit located on Ankli-Raibag Road in Raibag, Belgaum.

Mumbai’s real estate market has seen some of the biggest real estate transactions in recent times. Nippon Life India Asset Management tops the chart for purchasing a property at One Lodha Place, Lower Parel, for ₹486 crore on November 21, 2024. Vibha D Shanghvi follows with two significant purchases at Naman Xana, Worli, for ₹130 crore each.

Despite the significant rise in housing prices across cities in 2024, homebuyers continue their quest for bigger living spaces. Average flat sizes in the top 7 cities of India rose by 8% annually in 2024 – from 1,420 sq. ft. in 2023 to 1,540 sq. ft. in 2024. Back in 2019, the average flat sizes in these cities was 1,145 sq. ft., indicating a whopping 34% 6-year jump, the latest ANAROCK data shows.