Is Property Still a Lucrative Investment? Prabhu Deva's Mumbai Flats Tell the Story
Renowned actor, dancer, and choreographer Prabhu Deva has sold two apartments in South Mumbai’s Mahalaxmi area for a combined Rs 14.80 crore, nearly 14 years after purchasing them for Rs 14.45 crore. That’s a total gain of just Rs 35 lakh, a mere 2.4% appreciation over 14 years, which barely keeps up with inflation and certainly doesn’t deliver meaningful profits.
The two apartments, each measuring around 1,295 sq ft, are situated on the 32nd and 33rd floors of a high-rise residential tower in Mahalaxmi. According to property registration records, the flats were originally purchased in December 2012 and have now been sold for Rs 7.40 crore each. The buyers are reported to be Priya Ruparel and Manju Dange, with the deal registered on March 13, 2026. The transaction involved a stamp duty of Rs 30,000.
The numbers tell a quieter story beneath the glamour: property prices don’t always rise the way we expect. In some cases, they barely move. Yet, the broader market paints a mixed picture. According to an Economic Times report, property prices in cities like Mumbai and Bengaluru have surged nearly 97% and 98%, respectively, since 2019. Forecasts suggest average home prices in India could rise around 5% annually through 2028.
However, data also points to uneven demand. As per Reuters, property prices in India rose 3.6% in 2025. Meanwhile, housing sales dipped 1% to over 3.48 lakh units across eight major cities, with demand softening even as prices climbed by as much as 19% in some markets, according to Knight Frank. In the Mumbai region specifically, residential sales rose just 1% to 97,188 units, while the average housing price increased 7% to Rs 8,856 per sq ft.
This mixed performance highlights the need for careful consideration when investing in property. While some markets are seeing significant growth, others like Mumbai are experiencing more modest returns. Investors should be aware of local market conditions and economic trends to make informed decisions.
