Mumbai's Luxury Real Estate Market Heats Up: Santacruz West Bungalow Sells for Rs. 164 Crore

India, December 12 -- 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 Rs. 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 Rs. 9.8 crore, as indicated in the documents.

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 development firm. This acquisition underscores the growing interest in high-end properties in Mumbai, particularly in prime locations like Santacruz West.

Santacruz West has been a sought-after area for luxury real estate due to its strategic location, proximity to business districts, and high-end amenities. The area has seen a surge in property values over the years, driven by increasing demand from both local and international buyers.

ZYJ Builders and Developers is known for its commitment to delivering high-quality, luxury residential and commercial projects. The acquisition of Dwarka Bungalow is a strategic move that aligns with their focus on premium real estate developments. The company plans to leverage the prime location and existing infrastructure to create a landmark project that will further enhance the prestige of the area.

The real estate market in Mumbai has been resilient despite economic challenges, with luxury properties continuing to attract significant investment. This deal is a testament to the enduring appeal of Mumbai's prime locations and the confidence investors have in the city's property market.

For ZYJ Builders and Developers, the acquisition of Dwarka Bungalow represents a significant milestone in their growth strategy. The company's focus on luxury developments and their ability to secure prime properties like this bungalow positions them as a leading player in the Mumbai real estate landscape.

As the real estate market continues to evolve, the acquisition of Dwarka Bungalow is likely to set a new standard for luxury property transactions in Santacruz West and beyond. The deal highlights the ongoing demand for high-end properties and the willingness of developers to invest in strategic assets that promise long-term value and prestige.