Mumbai realtor sells sea-facing duplex apartment for Rs 174 cr; but it isn’t the most expensive deal

The ultra-luxury apartment spread across 12,148 square feet and occupying two entire floors was purchased by Alkem Laboratories executive director Sarvesh Singh and attracted a stamp duty of Rs 10.44 crore.

Written by FE News Desk

April 30, 2025 19:44 IST

Mumbai realtor sells sea-facing duplex apartment for Rs 174 cr; but it isn't the most expensive deal (Image: Pixabay)

A sea-facing duplex flat in Mumbai was sold for a whopping Rs 174 crore this week — the largest of its kind in the Bandra suburb. The ultra-luxury apartment spread across 12,148 square feet and occupying two entire floors was purchased by Alkem Laboratories executive director Sarvesh Singh and attracted a stamp duty of Rs 10.44 crore. Despite the eye-watering price tag, however, it is not the expensive property deal to emerge from the city — or even this year.

The Kotak family had purchased a three-storey residential building in the Worli area of Mumbai towards the end of January — paying a record of Rs 2.71 lakh per square feet. According to reports, the family behind the Kotak Mahindra Group paid Rs 202 crore for 12 flats in the building. Most of the transactions were registered on January 30 while one deal was finalised on February 5 this year. The acquisition had shattered previous records for per square foot rates in the country — held by multiple Mumbai apartments in succession.

The Zydus Family Trust also made waves last month after acquiring a luxury apartment in Worli for Rs 200 crore. Meanwhile liquor maker Hermes Distillery purchased 10 luxury apartments in a south Mumbai building for a total of Rs 199.35 crore towards the end of March 2025.

The family of industrialist JP Taparia likely holds the record for India’s most expensive apartment deal following a Rs 369 crore transaction in 2023. The family had purchased a sea-view luxury triplex apartment in the upscale Malabar Hill locality of south Mumbai from the Lodha Group — paying Rs 19.07 crore in stamp duties alone. The apartment is part of the super-luxury Lodha Malabar residential tower and touches both the Arabian Sea and the Hanging Gardens. The transaction also came around two weeks after Bajaj Auto chairman Niraj Bajaj paid over Rs 252.50 crore for a penthouse in the same under-construction building. He also incurred Rs 15.15 crore in stamp duty and registration fees for the apartment.