Mumbai Ultra Luxury Housing Finds Deep Pockets

A luxury apartment in Mumbai’s Worli has been leased for an initial ₹28.5 lakh a month, putting another high-value transaction in the city’s ultra-premium rental market. The deal involves a 6,831 sq ft residence at Three Sixty West and highlights how scarce, centrally located housing continues to command extraordinary rents even as affordability remains a wider urban concern.

The lease was registered on September 28, 2026, for 36 months, according to property registration records cited in the transaction data. The apartment, on the 19th floor of Tower B, has been leased by Derive Trading and Resorts Private Limited, an investment entity linked to the family office of the DMart founder, to IVL Dhunseri Petrochem Industries Private Limited.  The agreement starts at ₹28.5 lakh a month and rises to ₹29.925 lakh in the second year and ₹31.42 lakh in the third. Across the three-year term, the rental commitment works out to roughly ₹10.78 crore. The tenant has also provided a ₹1.71 crore security deposit and received four parking spaces. On a simple area basis, the initial rent translates to about ₹417 per sq ft each month. That places the property firmly within Mumbai’s rarefied ultra-luxury rental segment, where location, views, building services, privacy and limited supply can matter as much as conventional measures of housing value.

The transaction also reinforces the growing importance of the rental market within Mumbai’s high-end residential economy. In May, another apartment at the same development linked to the same investment entity was leased for ₹27.5 lakh a month to an entity associated with the Sanjay Ghodawat Group.  Three Sixty West has become a notable concentration of high-value residential capital. In 2023, the DMart founder’s family members and associates acquired 28 apartments in the project for a combined ₹1,238 crore. The purchases covered about 1.82 lakh sq ft of carpet area and 101 parking spaces. 

For Mumbai, the significance extends beyond headline rents. Worli luxury rental activity reflects the premium investors and corporate occupants place on established locations with strong connectivity and limited developable land. Yet the sharp gap between such properties and mainstream housing also underlines the city’s uneven access to well-located homes. As Mumbai adds more premium residential stock, the broader test will be whether infrastructure, mobility, open space and essential services keep pace with concentrated high-value development. Worli luxury rental demand may signal strong wealth and corporate activity, but it is only one part of a sustainable housing market.

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Mumbai Ultra Luxury Housing Finds Deep Pockets