Mumbai’s real estate market has once again showcased its growing appeal among high-net-worth individuals (HNIs) with a record-breaking transaction in Worli. Equity investor Urjita Jagdish Master recently acquired a 7,139 sq ft sea-facing luxury apartment in Oberoi Three Sixty West for ₹105 crore, marking one of the most expensive deals in the area. Located on the 59th floor of the premium development, the property is priced at an impressive ₹1.48 lakh per square foot. The deal, registered on 13 November 2024, includes five dedicated parking spaces and a stamp duty of ₹2.89 crore.
The Oberoi Three Sixty West project is a hallmark of luxury, featuring a mix of 4 BHK and 5 BHK units, duplex apartments, and penthouses. With an occupation certificate granted in 2022, the development has attracted a clientele comprising Bollywood stars, business magnates, and industry leaders. Prominent residents include Shahid Kapoor, Radhakishan Damani of D’Mart, and Karan Bhagat of 360 One, among others. The trend reflects a surge in demand for ultra-luxury properties as seen in recent purchases like Shreegopal Kabra’s ₹198 crore deal in the same vicinity.
The city’s luxury real estate market is on an upward trajectory, driven by limited supply and increasing demand among affluent buyers. Experts indicate that properties priced above ₹5 crore are witnessing higher traction, fuelled by a sense of urgency to secure premium addresses. Developers in regions like Delhi-NCR and Mumbai are actively launching high-end projects to meet this demand.
While these developments highlight affluence, they also underline a critical need for sustainable urban planning. Luxury housing projects in high-density areas must adopt eco-friendly construction practices to mitigate environmental impact. Incorporating green certifications, energy-efficient systems, and sustainable designs can balance the city’s growth with its ecological responsibilities.
Mumbai’s evolving skyline continues to redefine urban opulence, but integrating sustainability into this transformation remains key to building a resilient future.
