Mumbai’s luxury real estate boom: Lodha Sea Face apartment sold for ₹187.5 cr

A luxury apartment at Lodha Sea Face in Worli, developed by Macrotech Developers Ltd. (Lodha Group), has been purchased for ₹187.47 crore by SR Menon Properties LLP in a primary sale transaction. The transaction, registered in March 2025, marks one of the largest residential sales in Mumbai’s luxury real estate market.

The property is located in Worli, in Lodha Sea Face, and is a luxury residential project developed by Macrotech, according to property registration documents reviewed by real estate platform Square Yards. According to RERA (Real Estate (Regulation and Development) Act, 2016), the project is spread across 1.5 acres and comprises a total of 29 residential units featuring 5 BHK and 6 BHK configurations. SR Menon Properties LLP, incorporated in May 2024, has a total of two designated partners: Radhika Narang Parasram and Sudhir Vijay Menon.

The purchased apartment features a carpet area of 1,381.09 sq. m. (14,866 sq. ft.) and comes with a total of seven car parking spaces. The transaction incurred a stamp duty payment of ₹11.25 crore and registration charges of ₹30,000. The transaction was a primary sale and was purchased from Macrotech Developers Ltd.

Worli, which is one of South Mumbai’s most sought-after luxury residential markets, known for its premium high-rises and sea-facing apartments, recorded a total of 683 residential registrations across primary and secondary markets, with a total transaction value of ₹7,326 crore between January and December 2024. The average residential property price, including primary and secondary properties in the locality, stood at ₹84,754 per sq. ft as of December 2024.

The Worli locality offers seamless connectivity via the Bandra-Worli Sea Link, Eastern Express Highway, and key arterial roads, enhancing accessibility to business districts like BKC and Nariman Point. With world-class social infrastructure, upscale retail, and proximity to commercial hubs, Worli continues to attract HNIs, celebrities, expatriates, and senior professionals.

Real estate consultancy Anarock also attributes Worli's success to key business districts like Bandra-Kurla Complex (BKC), Lower Parel, and Nariman Point, bolstered by major infrastructure projects like Bandra-Worli Sea Link, Mumbai Coastal Road, Mumbai Metro Line-3, Eastern & Western Express Highways and the overall Luxury Housing Surge. Projects like One Lodha Place, Lodha Supremus, and Altimus have cemented Worli’s status as a preferred business hub, it said in its recent report.

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.

In another real estate hot spot Gurugram, 47-year-old Rishi Parti, the founder of Info-x Software Technology Pvt Ltd, bought an ultra-luxury 16,290 square feet penthouse at DLF Camellias, Gurugram's Golf Course Road, for ₹190 crore in December 2024, bagging the crown of India's most expensive individual purchase in 2024. Setting a new benchmark in India's luxury real estate market, the transactions translated to a whopping ₹1.8 lakh per square ft for the carpet area and ₹1.2 lakh sq ft for the super area.

These high-value transactions highlight the sustained demand for luxury real estate in the country's prime locations.