Large Luxury Flat at Lodha Malabar at Walkeshwar sold at 1.45 Lakhs PSF
Mumbai’s Ultra-Luxury Property Market Surges with Record-Breaking Deals at Lodha Malabar
Mumbai’s Malabar Hill continues to cement its reputation as the most exclusive address for India’s ultra-high-net-worth individuals (UHNWIs), with record-breaking property transactions reshaping the city’s luxury real estate market.
Recently, Dream11’s co-founder purchased a 9,546 sq. ft. apartment in Malabar Hill for ?138 crore, setting a new benchmark at ?1.45 lakh per sq. ft.. Around the same time, another apartment at Lodha Malabar in Walkeshwar was also sold at the same price per sq. ft., reinforcing the premium valuation of South Mumbai’s most sought-after residences.
Ultra-Premium Real Estate: A Niche Market for Discerning Buyers
The ?100 crore-plus property segment in Mumbai caters to a select group of elite buyers, including business tycoons, startup founders, and industrialists, who prefer investing in highly exclusive developments like Lodha Malabar. These buyers are drawn to such properties due to limited availability, ultra-luxury amenities, panoramic views, and prime locations.
With fewer than a handful of transactions annually in this price range, South Mumbai’s elite buildings continue to command record-breaking per-square-foot valuations.
Recent High-Value Transactions at Lodha Malabar
Over the past year, Lodha Malabar has seen multiple ?100 crore-plus transactions, reaffirming its status as one of India’s most expensive residential projects. Here are some of the most notable deals:
- June 30, 2023 – Rajendra Barwale (Director, Barwale Seeds) and his family purchased a 9,546 sq. ft. apartment for ?122 crore, including six parking spaces.
- June 1, 2023 – Directors of Kandoi Fabrics Pvt Ltd acquired two sea-facing apartments, each 4,643 sq. ft., for ?54.26 crore per unit, totaling ?108.52 crore.
- March 29, 2023 – JP Taparia’s family (Famy Care Founder) bought a 27,160 sq. ft. sea-view triplex across 26th-28th floors for ?369.55 crore, making it one of India’s costliest residential deals.
- March 23, 2023 – Madhav Goel (Director, Tufropes) purchased a 9,546 sq. ft. apartment on the 19th floor for ?121 crore, with multiple parking spaces.
- March 10, 2023 – Niraj Bajaj (Chairman, Bajaj Auto) acquired an 18,008 sq. ft. triplex penthouse on the 29th-31st floors for ?252.5 crore, including eight parking slots.
Expert Insight: What Drives Demand in Mumbai’s Ultra-Luxury Market?
Sandeep Sadh, a seasoned real estate expert and founder of Mumbai Property Exchange, explains why Malabar Hill and Walkeshwar remain the top choices for India’s wealthiest buyers:
"The ?100 crore-plus luxury housing segment in Mumbai is extremely niche, with only a handful of transactions occurring each year. These are not speculative investments; these homes are chosen by buyers who prioritize exclusivity, legacy, and long-term ownership. Buildings like Lodha Malabar cater to this select class, offering a combination of ultra-luxury amenities, breathtaking views, and a prestigious address that cannot be replicated. With supply always limited, these homes will continue to command premium valuations."
Malabar Hill & Walkeshwar: The Pinnacle of Luxury Living
Known for its secluded, high-profile lifestyle, Malabar Hill and Walkeshwar remain the top choices for India’s wealthiest. The locality offers:
- Unmatched views of the Arabian Sea
- Proximity to iconic landmarks such as Hanging Gardens, Walkeshwar Temple, and the Governor’s Estate
- State-of-the-art amenities catering to ultra-luxury living
- Limited supply of exclusive residences, ensuring sustained high demand
With rising interest from startup billionaires, corporate leaders, and legacy business families, South Mumbai’s ultra-luxury property market continues to set new records, solidifying its status as India’s most premium residential zone.
