Godrej Industries’ Chairman and Family Buy Three Flats in South Mumbai for Rs 180 Crore

Godrej Industries Chairman, Nadir Godrej, and his family have purchased three luxurious sea-view apartments in Malabar Hill, South Mumbai, for nearly Rs 180 crore. These apartments are part of the under-construction super-luxury project, Ruparel House, on Ridge Road, which offers a stunning view of Queens Necklace and is being developed by R House Realty, a subsidiary of JSW Realty.

The Godrej family, including Nadir Godrej's two sons, Burjis and Hormusji, paid a stamp duty of Rs 10.79 crore for these transactions, which were registered on June 12, as per documents accessed via Zapkey.com. Along with the apartments, the deal includes 12 car parking slots in the exclusive tower, which has 14 residential levels, each featuring a single apartment per floor. The project is expected to be completed by December 2027.

This property transaction, including stamp duty and GST, is valued at Rs 1.44 lakh per sq ft, making it one of the most expensive deals in the country. Despite reaching out, neither Godrej Industries nor JSW responded to queries.

In 2023, residential property sales in India's top eight cities hit an all-time high due to strong demand in mid-income, premium, and luxury segments. Mumbai led the market as the country s most expensive property hub, with property deals and registrations breaking records, surpassing the 10,000-mark in each of the first five months of 2024. The city has seen consistent year-on-year growth in property registrations for ten consecutive months since August 2023.

South and central Mumbai, home to Indias most expensive apartments, have driven this performance, with numerous high-value transactions involving industrialists, CXOs, actors, and sports personalities in recent years.

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