Mumbai Real Estate: Luxury Bungalow in Santacruz West Sells for ₹164 Crore
In one of the largest standalone land purchases in Mumbai, a subsidiary of luxury real estate developer ZYJ Builders and Developers has acquired the Dwarka Bungalow in Santacruz for ₹164 crore, according to documents accessed by data analytics firm Zapkey.
The property, known as Dwarka Bungalow, is situated on Linking Road, Santacruz West. Spread across 1,266.7 sq m (about 13,629 sq ft), the estate comprises a ground-plus-one structure, along with a garage and auxiliary sheds. The company paid a stamp duty of ₹9.8 crore, the document showed.
The buyer, ZYJ Estates LLP, acquired the bungalow through partner Zafar Yunus Zaveri. Zaveri is associated with Yunus Jhaveri Architects and is linked to a luxury-focused real estate company involved in high-end residential development in Mumbai. ZYJ Developers is currently executing a project, Sequoia, on 16th Road, Santacruz West, according to the company website.
The deal was registered on November 17, 2025, the document showed. “Given the parcel size and location, market watchers expect this to be redeveloped into a premium residential project, consistent with ZYJ’s ongoing luxury developments like Sequoia on 16th Road,” said Sandeep Reddy, co-partner, Zapkey.
A list of questions has been sent to ZYJ Estates LLP. The story will be updated if a response is received.
Other notable bungalow deals in Mumbai include the sale of Laxmi Niwas, a bungalow on the upscale Nepean Sea Road with a glorious past connected to India’s independence movement, for ₹276 crore to Vageshvari Properties Private Limited, as reported by proptech website Zapkey.
Uday Kotak and his family members had purchased 12 sea-facing apartments for ₹202 crore in a residential complex named Shiv Sagar Building on Worli Sea Face, according to property registration documents accessed by Zapkey.com.
In 2024, Rekha Jhunjhunwala, widow of the late billionaire stock investor Rakesh Jhunjhunwala, was in the news for having purchased almost all the units in a south Mumbai residential building to ward off any obstruction to the vista of the Arabian Sea from her Malabar Hill home in South Mumbai.
In what is perhaps one of the biggest property deals in the country, family members and associates of D'Mart founder Radhakrishna Damani had bought as many as 28 housing units worth ₹1,238 crore in Mumbai's Worli in 2023, registration documents accessed by Zapkey.com showed.
Hindustan Times had reported in March 2023, that the JP Taparia family, the promoters of contraceptive maker Famy Care Ltd, had purchased six apartments spanning a net area in the Lodha Malabar project in south Mumbai’s Malabar Hill for ₹369.55 crore, documents accessed and shared by IndexTap.com and Zapkey.com had showed.
