Mumbai is India’s financial capital and home to celebrities and billionaires, but it still packs a wow factor when it comes to property prices. While people continue to listen to stories of luxurious apartments, a recent land transaction in the city’s upmarket Juhu area surprised many with the hefty price tag.
Who Purchased The Costliest Land In Mumbai?
Agarwal Holdings Private Limited has bought the costliest land in Mumbai. A piece of developed land is located in Juhu and is bought at a staggering price of Rs 455 crore. The plot was bought from Shapoorji Pallonji Gwalior Private Limited, which was announced by Square Yards. The transaction heightened the unbearably high property prices in Mumbai’s upper-crust enclaves, such as Malabar Hill. Square Yards stated that “Agarwal Holdings Pvt Ltd has acquired the land parcel in the Juhu locality of Mumbai, valued at Rs. 455 crore.” The statement was released on December 10.
Plot Size And Transaction Details
The registration details of Juhu reveal that this prime location stretches to nearly 1,819.90 square meters or 19,589.22 sqft according to the analysis of Square Yards. The large-scale deal was completed in November 2024 following the completion of all the registration procedures. The said property incurred a stamp duty of Rs. 27.30 crores and a registration fee of Rs. 30000, clearly evidencing a luxury property.
Anand Murthy, co-founder, and CBO, Capital Market & Services, Square Yards, said, “Transactions such as Agarwal Holdings Private Limited’s recent land acquisition in Juhu highlight Mumbai’s enduring appeal for commercial and residential investments. Key hubs such as the Bandra-Kurla Complex (BKC) and prime locations across Southern and Western Mumbai have firmly established themselves as sought-after destinations for commercial and luxury real estate.”
History Of Premium Acquisitions By Agarwal Holdings
Agarwal Holdings is not new to the high-stakes real estate deals in the prime area of Juhu. In September 2022, the company became newsworthy when it procured a chunk of land measuring about 1,758 square meters, nearly 1.75 acres, for Rs 332.8 crore.
Speaking about the changing trends in the city’s real estate market, Anand Murthy, the founder and CEO of Capital Market and Services at Square Yards, said, “The prices of properties are quite outstanding, as it is the commercial hub of India.”
High-demand Locations In Mumbai
Some key regions and districts remain in high demand, including Bandra-Kurla Complex, South Mumbai, and Western Mumbai. Juhu and Bandra have always been on the list of preferred locations because of the availability of sea views and lavish houses. In the past few years, Mumbai has seen some of the largest transactions involving dollar-billion industrialists, thus putting the city on the map for luxury real estate.
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