The CEO of KKR India, has made a landmark purchase in Mumbai’s luxury real estate market, acquiring a sea-view apartment in the prestigious Morena House on Carmichael Road for nearly Rs 88 crore. The apartment, covering 5,381 sq ft, is valued at approximately Rs 1.63 lakh per sq ft, making it one of the country’s most expensive property transactions.
This purchase underscores the ongoing demand for high-end real estate in South Mumbai, a prime location that continues to attract affluent buyers. The deal, registered on October 18, also includes four exclusive parking spaces, further enhancing the luxury offering. The Morena House project, developed by JSW Realty, is situated on the site of the former Morena House bungalow, once the Belgian Consulate. The luxury complex exemplifies the growing trend of premium developments in the city, attracting top executives, industrialists, and celebrities. Mumbai’s real estate market has shown resilience, with residential sales across the top eight cities hitting record highs in 2023. The luxury sector, in particular, has seen significant growth, with South Mumbai playing a key role in driving large-ticket transactions.
This acquisition is part of a broader trend where high-value properties are not only seen as a status symbol but also as a long-term investment. As Mumbai continues to lead the country’s luxury real estate market, the focus is shifting towards sustainable and energy-efficient developments that combine luxury with environmental responsibility, catering to a new generation of eco-conscious buyers.
