Indian billionaire Nadir Godrej, Chairman of Godrej Industries, has made a significant foray into Mumbai’s elite real estate market. Godrej, along with his family, has acquired three opulent sea-facing apartments in South Mumbai, reflecting the continued desirability of this upscale area among the country’s wealthiest individuals.
The high-profile transaction involves three apartments located on the sixth, seventh, and eighth floors of Ruparel House, an exclusive residential building situated on Ridge Road in Malabar Hill. The properties were purchased from R House Realty Pvt Limited, a subsidiary of the JSW Group, for a total sum of Rs 180 crore.
Each apartment was secured for approximately Rs 59.95 crore, translating to an impressive Rs 1.3 lakh per square foot. The transaction, which was formalized and registered on June 12, 2024, highlights the premium valuation of South Mumbai’s luxury real estate market. The acquisition also incurred stamp duties amounting to Rs 3.5 crore per property, underscoring the magnitude of the purchase.
With each unit offering a spacious 4,610 square feet, the combined area of the three apartments totals 13,836 square feet. This significant addition to Nadir Godrej’s property portfolio underscores his substantial financial standing, estimated by Forbes at around $3.9 billion (Rs 32,528 crore).
Nadir Godrej’s investment is part of a broader trend among India’s billionaires who are gravitating towards South Mumbai’s prime real estate. Earlier this year, notable figures like Mavjibhai Patel and Rekha Jhunjhunwala also made headlines with their substantial purchases in this sought-after locale. These acquisitions signal the sustained confidence of India’s affluent class in the enduring value and exclusivity of properties in South Mumbai.
South Mumbai continues to stand out as a beacon of luxury, combining prestigious addresses with breathtaking views and unparalleled amenities. The area is renowned for its historical significance and status as a hub for the city’s elite, making it a coveted destination for high-end real estate investments. The region’s ability to command such high prices per square foot reflects its esteemed position in the market.
With the purchase of these three luxury apartments, Nadir Godrej further cements his place among the elite property owners in one of Mumbai’s most prestigious neighborhoods.
