Mumbai is the most expensive real estate market in India but 2021 has seen some really explosive jumps in the sector. Not only was there a record number of registries due to reduced stamp duty but there were some outrageous luxury purchases. In the megacity with an extreme space crunch, there was a no-holds-bar approach when it came to buying sprawling houses over 5000 square feet. Bollywood stars, corporate groups, and business tycoons showed a buying frenzy to grab super-premium residences in exclusive neighborhoods of Mumbai. In this article we unveil the top 12 noteworthy property deals that happened in Mumbai in 2021 – multi-crore deals that were purchased in Mumbai’s poshest localities like Bandra, Juhu, and South Mumbai.
Disha Patani isn’t just benefitting Maldives tourism but Indian real estate as well! The 29-year-old starlet from the North has starred in enough commercially hit films to not have moved to an upmarket neighborhood by now. This year the Patani babe finally bought her long-overdue home in the glamorous suburb of Khar. The 1119 sq ft apartment on the 16th floor in the F wing of Rustomjee Paramount cost her Rs 5.95 crores. The Radhe star gets two car park slots in the luxury project. This is a humble buy considering the fee she is commanding after the box office performance of MS Dhoni, Malang, and Baghi sequels. Maybe she believes in saving for a rainy day!
Rani followed ‘Disha’ to buy her new house in the same sea-facing project, in a different wing though. The Ghulam actor’s nearly 1500 sq feet home sits on the 22nd floor of E wing of Rustomji Paramount in Khar and she has paid a handsome 7.12 crores for her new abode. Maybe she was attracted to the rock climbing area and fitness station in the society which she needs to compete with new actresses. She also gets 2 car parking slots apart from the access to a common star gazing deck which she will share with Disha.
One of the hottest Bollywood celebs, Sunny has splurged 16 crores to acquire a hot property in The Atlantis in Andheri West. The 12th-floor apartment sprawls over 4000 sq feet and is located on the arterial New Link Road. The model and actress managed to get a better bargain than senior Bacchan who bought a home in the same project this year and who is coming up next in this list. But we are not sure if mothers of teenaged boys in Andheri West are equally happy about this deal!
The megastar is already the proud owner of one of the most famous and expensive houses in Mumbai – the 4000 square feet Jalsa. But then people are never tired of watching KBC and Mr. Bachchan has a steady cash flow to invest in more homes. He bought a 5700 square feet apartment in the same building as Sunny Leone at a much higher price of Rs 31 crores. In fact, the house figures in the list of the 20 most expensive property deals in Mumbai in 2021.
Alia had been dating her childhood crush Ranbir Kapoor since early 2020 and after a year she felt that her present Juhu home is too far to keep a watch on Bollywood’s hottest bachelor. So she moved into the same building where the Kapoor scion lives. The Bhatt babe splurged Rs 32 crores to buy a 2460 sq feet apartment on the 5th floor of Vaastu Pali Hill complex in the La-La suburb of Bandra. Her Rocket Singh beau resides on the 7th floor in his bachelor pad in the same building that is also close to the Kapoor family’s Krishnaraj Bungalow. Alia seems to have made a strategic choice since hopping two flights of stairs isn’t an uphill task.
The latest Kapoor starlet broke into the scene in 2018 and three years and three films later she decided that she deserves a luxury home matching her successes. So she gifted herself a home that spreads across three floors in a premium project in the famed Juhu area of Tinseltown. She has splashed a massive 39 crores to buy about 3500 square feet of area in the building where her chachu Anil Kapoor and Singham star Ajay Devgan also live.
Metal stocks are not performing well for some time but Essar is too big a group to rely on one business. The company sits on a huge cash pile with its diversified business and has invested in one of the most expensive residential properties in India. The Essars bought a sea-facing duplex apartment in the posh neighborhood of Worli for Rs 42 crore. The luxury pad is spread across the 21st and 22nd floors of the iconic Samudra Mahal apartment building and occupies 3638 sq ft of carpet area. The building on Annie Besant Road has a high heritage value along with the opulence it offers since it was the original palace of the modern Scindia royal family of Gwalior. No wonder Samudra Mahal has been breaking property deal records. Other corporate honchos living in Samudra Mahal are Vedanta group chairman Anil Agarwal and Infosys Co-founder NR Narayan Murthy.
The Padma Bhushan awardee and grand old banker has waited a long to splurge on a super-luxury property. 2021 was the year for the HDFC chairman to buy his dream home. Mr. Parekh spent a whopping 50 crores to acquire a 7500 sq feet sea view apartment in Worli. Located on the 25th floor of the premium Raheja Artesia the sea-facing apartment is registered in the name of his wife. The HDFC first family gets an unrestricted view of the Arabian sea and 6 car park spots.
Dream 11 gives its users an app to play fantasy sports but the money it makes is real. Rachna Jain, the wife of the platform’s co-founder Harsh Jain, splurged in a luxury duplex in the 33 South apartment building in the upmarket Peddar road of South Mumbai. The 7200 square feet duplex cost a princely Rs 72 crores to the couple, at a staggering rate of 1 Lakh Rupees per square foot. It is an amalgamation of the apartments on the 29th and 30th floors and has 7 car park slots.
Hrithik might be living a bachelor’s life for some time but this doesn’t affect his thirst for space. The Bang Bang actor made a big bang in the luxury real estate market when he binged on 3 super-premium apartments. The triplex that spreads across the 14th, 15th, and 16th floors of Bay View which is a sea facing building on the posh Juhu Versova link road and which has a combined 38,000 sq feet area, for which the Roshan dude spent an outrageous 100 crores! The palatial place has a 6500 sq ft terrace, 10 parking spots, a private elevator, a billiards table a foosball table, and even a chocolate vending machine. That’s a royal treat he gave to himself after a royal snub to one Miss Ranaut!
Mukesh Ambani has found another business tycoon’s relative as his new neighbor. Anurang Jain, the nephew of Rahul Bajaj and the MD of Endurance Technologies, became another resident of India’s most expensive street when he coughed up Rs 100 crores for a house on Altamount Road. The industrialist bought twin apartments occupying 6400 square feet on the 19th floor of Carmichael Residences in the exclusive neighborhood of South Mumbai.
You would expect the next purchase to be a couple of crores more than the previous one, but this seems to be the deal of the decade. It is a whole 10 times more than the most pricey property so far on our list. Radhakishan Damani, the man known for selling cheap groceries to middle-class Indians has bought the most expensive house for himself. The founder of retail chain D Mart has spent an insane 1001 crores to buy a bungalow in India’s most premium residential area – Malabar Hills. By doing so, the supermarket tycoon broke the previous most expensive purchase record set by Vaccine king Cyrus Poonawala when he had bought the iconic Lincoln House for Rs 750 crores in 2015. Apparently, Damani relishes the heritage value of the 90-year-old house so much so that he readily paid 35% above the market value. However, realty experts believe that India’s fourth-richest person is a shrewd investor and he is bullish about the trends in Mumbai’s real estate. This makes sense. After all, why would a low-key businessman purchase a new 5800 square feet bungalow when he already has an upmarket residence on Altamount road?
And we wrap it up here. In which area do you dream of buying a home? If you were in place of Damani, would you have spent 1000 crores on that home? Let me know in the comments below.
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