Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Gaurav Trehan, CEO of KKR India, recently purchased a luxurious sea-view apartment at Morena House on Carmichael Road, Mumbai, from JSW Realty, marking one of India's highest-value residential transactions. The upscale property spans over 5,000 sq. ft., includes exclusive amenities, and reflects ongoing demand for premium real estate in Mumbai. This acquisition aligns with recent trends in Mumbai's high-end property market, which continues to see growth, especially in prime areas like South and Central Mumbai, popular among affluent buyers and corporate executives.
KKR India's CEO, Gaurav Trehan, has recently purchased a luxury sea-view apartment in the ultra-premium Morena House project on Mumbai's prestigious Carmichael Road. The property was acquired from JSW Realty, the real estate development arm of JSW Group, for nearly INR 88 crore. Advertisement
This apartment, spanning a carpet area of 5,381 sq. ft., was valued at approximately INR 1.63 lakh per sq. ft., making it one of the highest-priced property deals in India. Trehan also paid an additional INR 5.26 crore in stamp duty fees to finalise the registration. Beyond his role as CEO of KKR India, Trehan also serves as Co-Head of KKR Asia Pacific and Head of Asia Pacific Private Equity.
The transaction, completed and registered in mid-October, grants Trehan exclusive access to four parking spaces. The documents, sourced via realty data analytics firm Zapkey.com, show that the property includes a spacious balcony and a deck area totalling 434 sq. ft.
The luxury Morena House residence was developed by Windsor Residency, a division of JSW Realty, on a plot that once housed the original Morena House bungalow, purchased by JSW Realty in 2008. Previously, this one-storey bungalow served as the Belgian Consulate in India.
This significant transaction underscores the strong demand for luxury real estate in Mumbai, particularly in high-end areas that continue to appeal to affluent buyers. While a query from ET to JSW Realty went unanswered, Trehan opted not to provide any comments on the deal.
In the broader market, residential sales across India's top eight cities reached record highs in 2023 and have remained robust this year, with sustained demand across mid-income, premium, and luxury segments. Mumbai, India's largest and most expensive real estate market, continues to set new benchmarks in property transactions.
Property registrations have experienced steady year-on-year growth, maintaining an upward streak for 15 consecutive months since August 2023. Each of the first ten months of 2024 saw registrations surpassing the INR 10,000 mark, driven largely by high-end transactions in South and Central Mumbai. These sought-after areas have attracted numerous high-value deals from industrialists, top corporate figures, actors, and sports personalities over the past few years.
Trehan's acquisition highlights a persistent trend in Mumbai's high-end real estate market, where premium locations consistently attract wealthy buyers despite high prices. This transaction further illustrates Mumbai's status as India's leading and most expensive property market, where the demand for luxury residential properties shows no signs of slowing. The city's prime locales, such as South and Central Mumbai, continue to host some of the country's most significant property deals, driven by interest from industrialists, executives, and prominent personalities.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
