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S Raheja concluded 2025 with the sale of an ultra-luxury penthouse at its Evergreen project on Perry Road, Bandra, for INR 62.81 crore. Registered on December 15, 2025, the transaction highlights sustained demand for rare, high-value residences in Mumbai's prime luxury micro-markets. The penthouse spans a RERA carpet area of 4,583 sq. ft., translating to an effective price of approximately INR 1.37 lakh per sq. ft. Acquired by members of the Singh family, founders of Alkem Laboratories, the deal underscores the continued preference among India's business elites for bespoke, low-density homes in established neighbourhoods.
Real estate developer S Raheja marked a strong close to 2025 with the sale of an ultra-luxury penthouse at its Evergreen development on Perry Road, Bandra, for INR 62.81 crore. The transaction, registered on December 15, 2025, stands out as one of the notable high-value residential deals in Bandra during the year and reinforces the suburb's position as one of Mumbai's most sought-after luxury residential micro-markets. Advertisement
The penthouse, often described as a villa in the sky, offers a rare combination of scale, privacy and prime location attributes that continue to drive demand in Mumbai's uppermost housing segment. Featuring expansive private terraces and a striking double-height living area, the residence delivers a level of openness and exclusivity that is seldom available in dense urban settings.
With a RERA carpet area of 4,583 sq. ft., the transaction reflects an effective value of approximately INR 1.37 lakh per sq. ft., placing it among the higher-priced residential deals recorded in Bandra. Such pricing highlights the premium buyers are willing to pay for large-format, one-of-a-kind homes in legacy neighbourhoods with established social and physical infrastructure.
The property has been acquired by members of the Singh family, founders of Alkem Laboratories Ltd., one of India's leading pharmaceutical companies. The purchase underscores a broader trend of prominent business families favouring bespoke residences in low-density developments that offer long-term value, exclusivity and a prestigious address.
Bandra has consistently remained at the forefront of Mumbai's luxury housing market, driven by limited supply, strong social capital, and proximity to business districts, premium retail and lifestyle destinations. Even amid broader market cycles, demand for distinctive residences in such locations has shown resilience.
As Mumbai's residential market moves into 2026, the Evergreen penthouse sale serves as a clear indicator of the continued strength of the luxury segment. Transactions of this nature reaffirm that well-located, unique homes with generous proportions and enduring appeal continue to attract discerning buyers, even at the highest price points.
Source: S Raheja Press Bureau
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