In the last two months, high-end property deals worth ₹800 crore have been reported. This includes both buy-and-sell transactions of luxury apartments in the Mumbai real estate market by high-net-worth individuals.
The luxury segment of Mumbai’s real estate market is experiencing a slowdown in sales over the past few months; however, there has simultaneously been a significant uptick in high-end property transactions.
Industry experts attribute this primarily to the financial year-end, with high-net-worth individuals (HNWIs) eager to finalize deals before the March 31 deadline. Additionally, discussions around an impending increase in ready reckoner rates have fueled a sense of urgency to close transactions.
Over the last two months, luxury property deals worth at least ₹800 crore have been recorded, including both buy-and-sell transactions involving high-end apartments in Mumbai’s real estate market.
Here’s what real estate experts have to say
“Mumbai’s luxury real estate segment has been soft over the past few months. However, the recent uptick can likely be attributed to the financial year-end,” said Ritesh Mehta, Senior Director and Head (North and West), Residential Services and Developer Initiative at JLL India, a leading real estate consultancy firm.
“Individuals and families are also liquidating stocks and parking their profits in real estate, particularly in deals valued at over ₹100 crore. Tax planning strategies drive this shift, specifically to mitigate capital gains tax. While this is a major factor, I believe there are multiple reasons at play, varying on a case-by-case basis,” Mehta added.
Experts also point to a significant spike in property registrations for March, driven by the anticipated hike in ready reckoner rates by 5% to 10% in Maharashtra, set to take effect on April 1.
According to a Hindustan Times report, the first reaction to the impending hike has already trickled down to stamp duty registration offices in Mumbai, with developers and home buyers thronging to submit their documents by March 31, before the hike kicks in.
Grishma Savla, a partner at Integrated Real Estate Advisors, told Hindustan Times that it also helps that the Brihanmumbai Municipal Corporation’s (BMC) building proposal department as it will continue to function through the weekend, “for builders seeking approvals for projects during the auspicious occasions of Gudi Padwa and Eid and before the new hike is implemented.”
High-end property deals in the last two months
In the last two months, the Mumbai real estate market has witnessed several high-net-worth individuals and directors of companies purchasing luxury apartments.
According to property registration documents accessed by Zapkey.com, in January 2025, directors of a financial consulting firm, Sahastraa Advisors Private Limited, purchased a luxury apartment at Avalon Tower by Lodha Group in Mumbai’s Juhu area for ₹106 crore.
According to property registration documents accessed by Zapkey.com, in February 2025, Sujata Agarwal, director of real estate firm 9 Sky View Residences Pvt Ltd, purchased three luxury apartments in Mumbai’s Juhu for over ₹104 crore, including taxes.
In March, at least three purchase transactions worth ₹100 crore plus were registered in the Mumbai real estate market.
The list includes Amit Rathi, co-founder of QiCAP.AI, who purchased a luxury apartment worth ₹89.91 crore in India’s tallest building, Palais Royale in Mumbai’s Worli, according to the property registration documents accessed by Zapkey.com
Another deal was of Aruna Babulal Varma, wife of Omkar Realtors’ promoter Babulal Varma, who purchased a luxury apartment in Mumbai’s Worli for ₹68 crore, according to property registration documents accessed by Zapkey.com
A real estate firm, SR Menon Properties LLP, purchased a 14,866 sq ft apartment for ₹187 crore in March 2025 in an under-construction project called Lodha Sea Face, which is being developed by Macrotech Developers, also known as Lodha Group.
Apart from high-end purchases, few transactions of high-net-worth individuals selling their properties in the last two months also have been reported.
For example, Bollywood star Akshay Kumar has sold close to ₹100 crore worth of residential apartments he had invested in Mumbai over the last two months.
Documents accessed by IndexTap showed that in March 2025, Priyanka Chopra Jonas sold four luxury apartments, including a Jodi unit, for ₹16.17 crore in Mumbai’s Andheri West area.
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