This is Mumbai’s most expensive land, where registration fee is 27 crore, it is located in…, the plot is worth Rs…

The registration documents reveal that the land spans approximately 1,819.90 square meters (19,589.22 square feet).

Written by: Analiza Pathak Edited by: Analiza Pathak

Updated: December 13, 2024, 2:06 PM IST

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https://www.india.com/business/this-is-mumbais-most-expensive-land-where-registration-fee-is-27-crore-it-is-located-in-juhu-the-plot-is-worth-rs-455-crore-owner-agarwal-holdings-private-limited-7462534/ Copy

This is Mumbai's most expensive land, where registration fee is 27 crore, it is located in..., the plot is worth Rs...

Mumbai, the financial capital of India, is home to billionaire entrepreneurs and renowned celebrities. Owning a home or purchasing land in this bustling metropolis is no easy task, given the exorbitant property prices. While expensive apartments in Mumbai often make headlines, this time, it’s a piece of land that has grabbed attention—a plot sold for a staggering Rs. 455 crore. According to Square Yards, Agarwal Holdings Private Limited has acquired a highly sought-after land parcel in Mumbai’s upscale Juhu area for Rs. 455 crore. The plot was purchased from Shapoorji Pallonji Gwalior Private Limited.

“Agarwal Holdings Pvt Ltd has acquired the land parcel in Juhu locality of Mumbai, valued at Rs. 455 crore,” Square Yards said in a statement on December 10. The seller is Shapoorji Pallonji Gwalior Private Limited, a part of Shapoorji Pallonji group, it said.

Plot size and transaction details

The registration documents reviewed by Square Yards reveal that the land spans approximately 1,819.90 square meters (19,589.22 square feet). The deal was finalized in November 2024, following the registration process. The registration incurred a stamp duty of Rs. 27.30 crore and a registration charge of Rs. 30,000.

“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,” Anand Moorthy, co-founder and CBO, Capital Market & Services, Square Yards said.

“Only a smaller portion of the Juhu land has been monetized, with the larger parcel remaining under the group’s ownership,” a spokesperson for Shapoorji Pallonji Group said in response to HT.com’s query.

Previous deals by Agarwal Holdings

This isn’t Agarwal Holdings’ first high-profile acquisition in Juhu. In September 2022, the company purchased two land parcels spanning nearly one and three-quarters of an acre, for a combined value of Rs. 332.8 crore.

Anand Murthy, founder of Capital Market and Services at Square Yards, remarked, “Mumbai is the commercial capital of India and a major business hub, which drives its sky-high property prices.”

High-demand locations in Mumbai

In Mumbai, areas like Bandra-Kurla Complex, South Mumbai, and West Mumbai remain highly coveted. Juhu and Bandra, in particular, are perennial favorites due to their proximity to the sea and luxurious housing projects. Over the years, several billionaire industrialists have struck massive property deals in the city, further highlighting the allure of Mumbai’s real estate market.