Mumbai: In a record-breaking transaction, Macrotech Developers has sold a luxurious apartment spanning nearly 15,000 sq ft in Mumbai’s posh Worli area for a whopping ₹187.47 crore. The apartment, located in the Lodha Sea Face project, was purchased by SR Menon Properties LLP, according to property data from Square Yards.
The sale incurred a stamp duty payment of ₹11.25 crore along with registration charges of ₹30,000, highlighting the scale of this ultra-premium deal. The Lodha Sea Face project, spread over 1.5 acres, comprises 29 residential units featuring expansive 5 BHK and 6 BHK apartments. The apartment sold in this transaction has a carpet area of 1,381.09 sq m (approximately 14,866 sq ft) and comes with a total of seven car parking spaces.
SR Menon Properties LLP, the buyer of this opulent property, is an Indian Limited Liability Partnership (LLP) established in May 2024. The company is led by its two designated partners, Radhika Narang Parasram and Sudhir Vijay Menon.
Worli, located in South Mumbai, is recognized as one of the city’s most sought-after luxury residential areas, known for its premium high-rises and sea-facing apartments. The locality benefits from seamless connectivity via the Bandra-Worli Sea Link, Eastern Express Highway, and major arterial roads, making it highly accessible to business districts like Bandra-Kurla Complex (BKC) and Nariman Point.
According to Square Yards Data Intelligence, Worli witnessed a total of 683 residential registrations across both primary and secondary markets from January to December 2024, with a cumulative transaction value of ₹7,326 crore. The average residential property price, including primary and secondary properties, stood at ₹84,754 per sq ft as of December 2024.
The locality has become a hotspot for high-net-worth individuals (HNIs) and multinational corporations. In the financial year 2023-24 alone, Worli recorded 30 ultra-luxury real estate transactions worth a combined value of ₹4,862 crore, with homes priced above ₹40 crore being categorized in the ultra-luxury segment.
Anarock’s report highlights that the construction of the Bandra-Worli Sea Link solidified Worli’s reputation as a prime address for the wealthy, drawing corporate professionals and affluent homebuyers. With upcoming infrastructure projects like the Mumbai Coastal Road and Metro Line-3, the area’s attractiveness is only expected to grow further. Prominent developers like Oberoi Realty, Birla Estates, Runwal Realty, and Sumitomo Realty have invested in land parcels worth over ₹7,026 crore for developing high-end residential projects in the area.
Worli has experienced a remarkable 30% price appreciation from 2022 to 2024, reflecting the growing demand for luxury properties. As of now, the average price of residential units in the area is around ₹75,000 per sq ft, with about 52% of the inventory priced between ₹6 crore and ₹12 crore. The locality currently has a total housing supply of approximately 4,600 units, catering primarily to HNIs and corporate buyers.
In addition to its residential appeal, Worli is set to see an office space supply of 2.98 million sq ft between 2025 and 2026, further enhancing its status as a key business hub. The current rental value for commercial properties in the area ranges between ₹170 to ₹280 per sq ft per month, making it a highly competitive market for commercial leasing.
Worli’s blend of luxury, accessibility, and future growth potential continues to draw wealthy investors and multinational corporations, setting it apart as a symbol of status and prestige. As the market for ultra-luxury properties in Mumbai expands, deals like this one at Lodha Sea Face set a new benchmark, showcasing the immense appetite for premium real estate in the city.
