Luxury apartment at Lodha Sea View in Mumbai's Worli sold for Rs 187 cr

Realty firm Macrotech Developers has sold a luxury apartment of nearly 15,000 square feet area to S R Menon Properties for Rs 187.47 crore, according to Square Yards.

 

SR Menon Properties LLP, an Indian Limited Liability Partnership (LLP), was incorporated on in May 2024. The LLP has a total of two designated partners: Radhika Narang Parasram and Sudhir Vijay Menon.

 

The property is located in Worli, in Lodha Sea Face, a luxury residential project developed by Macrotech Developers Ltd. According to RERA, the project is spread across 1.5 acre and comprises 29 residential units featuring 5 BHK and 6 BHK configurations.

 

As per the IGR property registration documents reviewed by Square Yards, the purchased apartment features a carpet area of 1,381.09 sq. m. (~14,866 sq. ft.). It comes with a total of seven car parking spaces. The transaction incurred a stamp duty payment of Rs 11.25 crore and registration charges of Rs. 30,000. The transaction was a primary sale and was purchased from Macrotech Developers Ltd.

 

According to Square Yards Data Intelligence, Worli recorded a total 683 residential registrations across primary and secondary market with a total transaction value of Rs. 7,326 crore between January and December 2024. The average residential property price including primary and secondary properties in the locality stood at Rs 84,754 per sq. ft as of December 2024.

 

Worli is one of South Mumbai’s most sought-after luxury residential markets, known for its premium high-rises and sea-facing apartments. The locality offers seamless connectivity via the Bandra-Worli Sea Link, Eastern Express Highway, and key arterial roads, enhancing accessibility to business districts like BKC and Nariman Point. 

Worli recorded 30 ultra-luxury real estate transactions worth Rs 4,862 crore in 2023-24, according to a report by Anarock. Homes priced at Rs 40 crore and above fall within the ultra-luxury segment.

 

The report highlights Worli as a key destination for high-net-worth individuals (HNIs) and multinational corporations, driven by seamless connectivity, high-end developments, and continuous infrastructure advancements.

 

The locality had a total housing supply of 4,600 units till 2024, with an average price of Rs 75,000 per square foot. About 52 per cent of the inventory in the area is priced between Rs 6 crore and Rs 12 crore. The region has witnessed a 30 per cent price appreciation between 2022 and 2024.

 

Anuj Puri, chairman of Anarock Group, said, “The construction of the Bandra-Worli Sea Link further solidified its reputation as a premier address, making the area attractive to corporate professionals and wealthy homebuyers. With ongoing infrastructure projects like the Mumbai Coastal Road and Metro Line-3, its desirability is only set to rise further.”

 

Realtors such as Oberoi Realty, Birla Estates, Runwal Realty, and Sumitomo Realty have acquired land parcels worth over Rs 7,026 crore in Worli for residential projects.

 

Additionally, the area may see an upcoming office supply of 2.98 million square feet between 2025 and 2026. Currently, the average rental value in Worli stands at Rs 170-280 per square foot per month. The locality has recorded an 18 per cent price appreciation between 2015 and 2024.