Godrej Properties Sells Rs. 69 Cr Luxury Apartment on Carmichael Road

Godrej Properties, the Mumbai-based listed real estate developer, has sold a high-end apartment in South Mumbai’s ultra-premium Carmichael Road neighbourhood for ₹69 crore, according to property registration documents accessed by Zapkey.

The transaction was registered on February 25, 2026 and reflects strong demand for luxury real estate in India’s financial capital. The purchaser, Menon Realty LLP, acquired the unit located on the 14th floor of the Godrej Carmichael project. The property has a RERA carpet area of 4,359 sq ft, inclusive of 425 sq ft of balcony space, and was sold at a rate of ₹1.58 lakh per sq ft.

Key Highlights

• Godrej Properties sells luxury apartment on Carmichael Road for ₹69 cr
• Property size 4,359 sq ft sold at ₹1.58 lakh per sq ft with three parking spots
• Mumbai luxury market remains strong amid growing competition from Gurugram

The deal included three car parking spaces. Stamp duty of ₹4.14 crore and a registration fee of ₹30,000 were paid on the transaction. Neither Godrej Properties nor Menon Realty LLP responded to requests for comment.

Also Read: Godrej Properties Signs Rs. 7,500 Cr Thane JDA

Carmichael Road is one of Mumbai’s most coveted luxury micro-markets, defined by limited supply and high property values. The location’s appeal stems from its proximity to South Mumbai’s elite precincts, established greenery, and connectivity to key business and cultural hubs. South Mumbai, particularly areas like Carmichael Road and nearby Malabar Hill, continues to attract high-net-worth buyers and developers, despite broader market fluctuations.

The latest sale aligns with several major deals in the ultra-luxury segment. In March 2025, SR Menon Realty LLP bought a 14,866 sq ft apartment in Worli for over ₹187 crore at a per-sq-ft price of more than ₹1.26 lakh from Lodha Developers, reflecting enduring appetite for large luxury estates. Additionally, in April 2025, Godrej Properties’ chairperson Pirojsha Adi Godrej and his cousin acquired four apartments in the same Godrej Carmichael project at about ₹1.78 lakh per sq ft, setting local pricing benchmarks and expanding the project’s pedigree.

Industry observers note that while Mumbai has long been India’s dominant luxury market, other cities such as Gurugram are now challenging its lead.

Also Read: Godrej Properties Eyes NCR Amid Market Slowdown

A recent report showed Gurugram exceeded Mumbai in ultra-luxury home sales in 2025, with ₹24,120 crore worth of ₹10 crore+ transactions, compared to Mumbai’s ₹21,902 crore in the same segment.

Tina Talwar, Area Director at India Sotheby’s International Realty: “Emerging micro-markets are driving the next phase of expansion,” in India’s luxury housing market, as Gurugram overtakes Mumbai.

Data, Statistics & Insights

• Sale Price & Size: Sold for ₹69 crore at ₹1.58 lakh per sq ft; 4,359 sq ft RERA carpet area (incl. 425 sq ft balcony).
• Registration: Transaction registered on Feb 25, 2026; ₹4.14 crore stamp duty, ₹30,000 registration fee.
• Parking: Includes three car parking spaces.
• Comparable High-End Deals:
  • SR Menon Realty LLP bought a 14,866 sq ft apartment in Worli for ₹187.47 crore in March 2025 (≈ ₹1.26 lakh per sq ft).
  • Godrej Chairperson’s Deal: In April 2025, Pirojsha Adi Godrej and cousin bought four flats in the same project at ~₹1.78 lakh per sq ft, marking a notable benchmark.
• Luxury Market Trends: Gurugram saw 1,494 ultra-luxury homes sold worth ₹24,120 crore in 2025, overtaking Mumbai’s value in the ₹10 crore+ segment (~₹21,902 crore).

Shishir Baijal, Chairman & MD, Knight Frank India: “This sustained momentum is a testament to the inherent strength and depth of Mumbai’s residential sector. Demand remains largely end-user driven, with the mid-to-premium segments gaining traction” — on broader Mumbai real estate activity and premium demand.