Mah-Hill Properties buys 48,000 sq ft of Land in South Mumbai for Rs. 170 Crore

According to property registration records obtained by CRE Matrix, Mah-Hill Properties Pvt Ltd, a division of the Adani Group, has paid Rs. 170 crore for more than 48,000 square feet of land in Malabar Hill, South Mumbai.

The land and a 257 square meter building were sold by Behram Nowrosji Gamadia. According to records, the Gamadia family has owned the property since before independence, making it a legacy asset.

The purchasing deal was formally registered on March 27, 2025, and the land's entire area is 48,491 square feet. 

According to the paperwork, a registration cost of Rs. 30,000 and stamp duty of Rs. 10.46 crore were paid in order to buy the land.

Local brokers claim that this is one of the rarest house sites in South Mumbai, close to Malabar Hill. One of India's most expensive residential real estate markets is Malabar Hill.

According to local brokers, new constructed luxury flats in Malabar Hill cost at least Rs. 1 lakh per square foot.

Mumbai's famous Laxmi Nivas home on Nepean Sea Road, which was used as a covert refuge for freedom fighters during the Quit India Movement in the 1940s, sold for Rs. 276 crore last month in a comparable transaction in South Mumbai, according to property records.