Rs 290 cr deal: Godrej family buys 4 flats on Carmichael Road in Mumbai

Pirojsha Adi Godrej, chairperson of Godrej Properties and his cousin Freyan Crishna Bieri have bought four apartments just off Peddar Road in Mumbai for a total of Rs  290.59 crore, showed documents accessed by IndexTap, a real estate data driven firm.

 

The four luxury apartments are in the Godrej Carmichael project on Carmichael Road, Mumbai, and have been purchased at a record price of Rs 1.78 lakh per square foot. This acquisition sets a new benchmark for property prices in the area, surpassing the previous high of Rs 1.63 lakh per square foot recorded at Morena House by JSW.​

 

 

Transaction details

The apartments were purchased through Ceres Developers, a company where Pirojsha Godrej serves as a director. The total value of the four properties amounts to Rs 290.59 crore, with a consolidated stamp duty of approximately Rs 17.5 crore. The specific details of the transactions are as follows:​

 

Freyan Crishna Bieri's Apartment: A 4,359.92 sq ft unit on the 22nd floor, acquired for Rs 74.02 crore, equating to Rs 1,69,776 per square foot.​

 

Ceres Developers' Apartments:

A 4,359.92 sq ft unit on the 24th floor, purchased for Rs 77.77 crore, translating to Rs 1,78,372 per square foot.

A 4,359.92 sq ft unit on the 23rd floor, bought for Rs 75.87 crore, amounting to Rs 1,74,021 per square foot.

A 3,527.54 sq ft unit on the 25th floor, acquired for Rs 20.97 crore, which works out to Rs 1,78,372 per square foot.​

 

The Godrej Carmichael project is a high-end residential development located off Peddar Road, behind Jindal Mansion, in one of Mumbai's most prestigious neighborhoods. The development comprises a 30-floor tower with a height of 119.92 meters, offering panoramic views of the Arabian Sea, Mahalaxmi Racecourse, and the Willingdon Club. Scheduled for completion in December 2030, the project is designed to cater to the city's elite, providing unparalleled luxury and exclusivity.​

 

The Carmichael Road area, often referred to as "Billionaires' Row," continues to attract high-net-worth individuals.  In Mumbai, the most expensive purchase remains that of banker Uday Kotak, who in February bought the Shiv Sagar building on Worli Sea Face for Rs 2.72 lakh per square foot.