Juhu Apartment Sets Record with ₹1.15 Lakh per Sq Ft Sale

Quick Summary

• A 9,863 sq. ft. sea-facing apartment in Juhu, Mumbai, was sold for ₹113 crore by Aatman Innovations Pvt. Ltd., led by author adn speaker Deep Trivedi.
• The property is part of Lodha Avalon on Juhu tara Road, a luxury residential project being developed where the Centaur Hotel once stood.
• This deal broke the previous record in Juhu’s real estate market by achieving ₹1,15,000 per sq ft (previous high was ₹1,08,000 per sq ft).
• Total transaction cost with GST and stamp duty amounted too approximately ₹129 crore. Stamp duty alone was ₹6.8 crore (5% GST applied).
• Lodha Avalon is marketed as offering “mansions by the sea” for Ultra High Net Worth Individuals (UHNIs), capitalizing on its premium location near notable celebrity residences such as Amitabh Bachchan’s bungalow.
• Deep Trivedi resides in a duplex apartment in Juhu but spends time at other homes near Pawna Lake and Khandala for creative pursuits.
• India’s highest-ever residential deal occurred earlier when Leena Gandhi Tewari purchased two apartments at Naman Xana in worli for over ₹703 crore total or approximately ₹2.83 lakh per sq ft.

Indian Opinion Analysis

The record-breaking sale of an apartment in Mumbai’s upscale Juhu neighborhood highlights continuing growth trends at the super-luxury end of India’s real estate market despite economic uncertainties globally. The purchase underscores rising demand among UHNIs for exclusive properties combining locational advantages and unique offerings such as expansive sea views.

Significantly, this trend also reflects developers’ ability to leverage limited prime land parcels like former hotels or commercial spaces into high-value housing projects targeting niche clientele segments like celebrities and industrialists.

While broader affordability remains a challenge across India’s overall housing sector due to systemic supply-and-demand imbalances, these ultra-premium transactions suggest sustained investor confidence within micro-markets like South & Suburban mumbai areas where real estate retains intrinsic prestige correlation.Read More