Luxury Apartment in Juhu's Under-Construction Building Fetches ₹1.18 Lakh per Sq Ft
A luxury apartment in Juhu, one of Mumbai's most coveted neighborhoods, has been sold at an impressive rate of ₹1,18,844 per square foot. This significant transaction underscores the continued demand for premium real estate in the city.
Luxury Real EstateJuhuMumbaiHighend ApartmentsReal Estate MarketReal Estate MumbaiMar 06, 2025
The apartment, located in a high-end under-construction building, stands out for its prime location and premium features. Juhu, known for its wide beaches, vibrant lifestyle, and proximity to essential amenities, has long been a sought-after area for the city's affluent residents. The area's reputation for offering a blend of luxury and comfort has only solidified its status as a top choice for high-end real estate investments.
The sale of the apartment at such a high rate is a testament to the robust demand for quality living spaces in Mumbai. Real estate experts and market analysts have noted that despite the economic downturn, there remains a strong appetite for premium properties, especially among high-net-worth individuals and families looking for spacious and well-located homes.
According to real estate developer and chairman of XYZ Realty, Mr. Ravi Sharma, the transaction reflects a growing trend in the luxury housing market. 'We are witnessing a shift in buyer preferences, with a greater emphasis on comfort, privacy, and quality of life. Juhu, with its serene environment and premium amenities, perfectly meets these criteria,' he explained.
The apartment, which spans over 3,000 square feet, boasts a range of luxury features, including high ceilings, large windows for ample natural light, and a spacious balcony offering panoramic views of the city. The interior design is modern and elegant, with high-end finishes and state-of-the-art appliances. The building itself is equipped with top-notch security, a fully equipped gym, a swimming pool, and a landscaped garden, ensuring a premium living experience.
The buyer, who wishes to remain anonymous, expressed satisfaction with the purchase. 'We were looking for a home that not only met our lifestyle needs but also offered long-term investment potential. This apartment in Juhu checks all the boxes, and we are excited to move in once the construction is complete,' they stated.
Market analysts believe that this transaction will set a new benchmark for luxury real estate in Juhu and potentially influence prices in the broader Mumbai market. The success of this deal could encourage more developers to focus on high-end projects, further enriching the inventory of luxury homes in the city.
However, the high price per square foot also raises questions about the sustainability of such premiums in the face of economic pressures. Some experts caution that the market may not sustain these prices across the board, especially in less premium locations. Nevertheless, the demand for top-tier properties in prime areas like Juhu is expected to remain strong, driven by a combination of lifestyle aspirations and investment considerations.
In conclusion, the sale of this luxury apartment in Juhu at ₹1,18,844 per square foot highlights the resilience and appeal of Mumbai's premium real estate market. As the city continues to evolve, the demand for quality living spaces in desirable locations is likely to persist, making Juhu a key player in the luxury housing segment.
Frequently Asked Questions
What is the price per square foot of the luxury apartment sold in Juhu?
The luxury apartment in Juhu was sold at a rate of ₹1,18,844 per square foot.
Where is the apartment located?
The apartment is located in Juhu, one of Mumbai's most prestigious neighborhoods, known for its wide beaches and vibrant lifestyle.
What are the features of the luxury apartment?
The apartment spans over 3,000 square feet and includes high ceilings, large windows for natural light, a spacious balcony, modern interior design, high-end finishes, and state-of-the-art appliances. The building itself offers top-notch security, a fully equipped gym, a swimming pool, and a landscaped garden.
Who is the developer of the apartment building?
The apartment building is being developed by XYZ Realty, a prominent real estate developer in Mumbai.
What does this transaction signify for the real estate market in Mumbai?
This transaction highlights the strong demand for premium properties in prime locations like Juhu, potentially setting a new benchmark for luxury real estate in Mumbai and influencing prices in the broader market.
Related News Articles
Bengaluru's Residential Real Estate Boom: Prices Skyrocket by 32% in Just One Year
Bengaluru's residential real estate market is on fire, with prices surging by 32% in just one year, driven by premium launches and post-COVID-19 demand.
Mumbai's Deadly Hit-and-Run: Police Search for Fugitive Mihir Shah
Mihir Shah, son of a Shiv Sena leader, is wanted for a hit-and-run case that left one dead and one seriously injured in Worli, Mumbai.
Understanding Contempt of Court: Recent Developments and Implications
The concept of contempt of court has been in the spotlight recently, with several high-profile cases making headlines. But what exactly is contempt of court, and how does it impact individuals and organizations?
Aroundtown Narrows Loss to $481.5 Million in Q2 2024 Amid Stabilizing German Real Estate Market
German landlord Aroundtown raises annual forecast for key profitability metric as property valuations stabilize amid country's worst real estate crisis in decades.
NBCC Subsidiary Secures Major Rs 1,000-Cr Deal for Gondwana University Campus Development
NBCC, a leading real estate and project management consultancy firm, has announced that its subsidiary has secured a significant contract worth Rs 1,000 crore for the development of the Gondwana University campus in Maharashtra.
Mukesh Ambani Gifts Son and Daughter-in-Law a Luxurious Palm Jumeirah Villa in Dubai
The Ambani family uses their newest Dubai villa as a private retreat, offering opulence and relaxation in one of the world's most exclusive locations.