In a high-value acquisition underscoring Mumbai’s thriving luxury real estate market, electrical accessories manufacturer GreatWhite Global Private Limited has purchased two upscale apartments in Oberoi Realty’s prestigious Three Sixty West project in Worli for a sum of ₹225 crore. Official registration documents reveal that each apartment spans approximately 8,041 square feet and comes with five dedicated car parks. Situated in Tower B, these acquisitions reflect Mumbai’s consistent appeal among high-profile investors and corporations looking to establish a strong presence in the city’s upscale residential sector.
The transaction, finalised on 24 October, recorded stamp duty payments of ₹4.41 crore and ₹4.39 crore, respectively, for each unit, showcasing the rising costs associated with ultra-premium properties in Mumbai’s sought-after neighbourhoods. Oberoi Three Sixty West, spanning two towers, boasts a mix of 4 BHK and 5 BHK units as well as exclusive duplex apartments and penthouses. The project received its occupation certificate in 2022, making it one of the latest additions to the city’s limited inventory of certified, high-end properties. Notably, this luxury residence has attracted prominent buyers, including Bollywood celebrities Shahid Kapoor and Abhishek Bachchan, alongside industry magnates from the D’Mart, Kiran Gems, and Everest Masala families.
Mumbai has emerged as India’s leading city for luxury property transactions in 2024. According to data by Anarock, a total of 25 ultra-luxury properties valued over ₹40 crore were sold across India’s major metropolitan areas in the first eight months of the year, with Mumbai accounting for 21 of these high-ticket sales, amounting to ₹2,200 crore—an 84% share in the ultra-luxury segment. Nine of these transactions were for properties priced above ₹100 crore, collectively valued at ₹1,534 crore. Comparatively, all of 2023 saw ten such sales, underscoring a clear increase in buyer confidence within the ultra-luxury segment this year.
A broader look at the Indian luxury real estate market reveals robust growth, with CBRE South Asia reporting a 37.8% year-on-year increase in sales for properties priced at ₹4 crore and above from January to September 2024. This demand has been largely driven by the limited inventory of high-end, certified residences coupled with increasing urbanisation and lifestyle expectations. While premium developments like Oberoi Three Sixty West cater to this demand, industry analysts suggest that the trend of acquiring luxury properties will continue, further strengthening Mumbai’s reputation as a preferred destination for affluent buyers.
As India’s urban landscape expands, the trend toward high-end residential properties indicates a shift towards sustainable luxury living. Oberoi Three Sixty West is built to meet modern standards, promoting eco-friendly and energy-efficient designs to cater to environmentally conscious buyers. Sustainable architecture in high-end real estate not only enhances property appeal but also addresses urban challenges by integrating energy-saving measures, reducing waste, and maximising green spaces—a promising direction for India’s urban housing solutions amidst a growing demand for luxury and sustainability.
