Santacruz Bungalow Sold for ₹164 Crore

Another Mega Deal in Mumbai

Mumbai’s real estate market has witnessed another major transaction, with luxury real estate developer JYJ Buildersacquiring a bungalow in Santacruz West for ₹164 crore. The property, known as Dwaraka Bungalow, is located on Linking Road and spans 1,266.7 sq metres (approximately 13,629 sq ft). The estate includes a garage, helper quarters, and a ground-plus-one structure. The transaction was registered on the 17th of last month, with stamp duty of ₹9.8 crore paid. JYJ Developers is currently developing a luxury project named Sequoia on 16th Road, Santacruz West. Industry sources suggest that Dwaraka Bungalow may be redeveloped into a premium residential project in line with Sequoia.

Earlier this year, in March, the Kapadia family sold Lakshmi Nivas, a bungalow on Nepean Sea Road associated with India’s freedom movement, to Vagheswari Properties Pvt Ltd for ₹276 crore. Following that, the Dwaraka Bungalow deal ranks among the largest transactions. Additionally, Uday Kotak and his family purchased 12 sea-facing apartments in the Shiv Sagar building at Worli Sea Face for ₹202 crore. In another landmark deal, family members and associates of D-Mart founder Radhakishan Damani acquired 28 residential units worth ₹1,238 crore in Worli in 2023.