US-Based NRI Couple Acquires Two Sea-Facing Luxury Flats in Bandra West for ₹56 Crore
A US-based NRI couple has made a significant investment in Mumbai's luxury real estate market by acquiring two sea-facing apartments in Bandra West for over ₹56 crore. The transaction reflects one of the highest rates recorded in the area.
NriLuxury Real EstateBandra WestSatguru KismetHighnetworth IndividualsReal Estate MumbaiSep 07, 2025
The apartments are part of the Satguru Kismet project and each unit measures 2,189 sq ft with an additional balcony deck of approximately 120 sq ft. The project is located near prominent landmarks such as Sachin Tendulkar’s bungalow, Carter Road, and the upcoming Bandra-Versova Sea Link connector, making it a strategic investment for high-net-worth individuals.
Property documents show that the buyers made a down payment of nearly ₹10 crore to the developer, with the balance to be paid in phases. Stamp duty and registration fees amounted to ₹1.68 crore and ₹30,000 per apartment, respectively. The transaction was officially registered on September 3, 2025. Satguru Kismet is an under-construction development with a RERA-mandated completion date of December 2027.
Tax experts highlighted the implications for NRIs purchasing property in India. According to Aditya Zantye, Partner at AKORD & CO, the Tax Deducted at Source (TDS) on NRI property transfers has been reduced to a range of 13%–17.81% including surcharge and cess, down from previous rates of 20.8%–23.92%. Despite this relief, NRIs do not benefit from indexation, which could increase their tax liability when selling the property. Zantye also noted that global developments, including proposals in the US to overhaul corporate taxation and capital gains rules, may affect cross-border investment planning.
Bandra has long been a preferred location for luxury residential purchases in Mumbai. The area is known for its high-profile residents, including Bollywood actors and industry professionals. Several sea-facing and sea-view apartments command premium rates, with some units in Pali Hill exceeding ₹1.40 lakh per sq ft. The region also encompasses the Bandra Kurla Complex (BKC), a major commercial hub housing top domestic and international companies.
Sea-facing apartments in Bandra offer direct views of the Arabian Sea and are typically positioned along the coastline, providing unobstructed waterfront access. In contrast, sea-view apartments, such as those in Churchgate, are often taller and located further from the shore, offering panoramic views without direct sea adjacency. Both options are considered highly desirable in Mumbai’s luxury real estate market.
The recent purchase underscores sustained demand for high-end residential properties among NRIs. With the Satguru Kismet project still under construction, investors are betting on completion and the value appreciation associated with Bandra West’s strategic location. The buyers have requested anonymity, and Satguru Builders did not respond to email queries regarding the transaction.
The Bandra luxury housing market continues to attract domestic and international buyers due to its connectivity, proximity to commercial and recreational hubs, and status as a premier residential destination. While prices remain high, the combination of location, amenities, and potential investment returns sustains interest from high-net-worth individuals, including NRIs seeking a foothold in Mumbai’s prime real estate.
Frequently Asked Questions
What is the Satguru Kismet project?
The Satguru Kismet project is a luxury residential development in Bandra West, Mumbai. Each apartment measures 2,189 sq ft with an additional balcony deck of approximately 120 sq ft.
What is the rate per sq ft for the apartments in the Satguru Kismet project?
The rate per sq ft for the apartments in the Satguru Kismet project is ₹1.27 lakh.
What are the key landmarks near the Satguru Kismet project?
The key landmarks near the Satguru Kismet project include Sachin Tendulkar’s bungalow, Carter Road, and the upcoming Bandra-Versova Sea Link connector.
What is the tax implication for NRIs purchasing property in India?
NRIs purchasing property in India have a reduced Tax Deducted at Source (TDS) rate of 13%–17.81%, including surcharge and cess. However, they do not benefit from indexation, which could increase their tax liability when selling the property.
Why is Bandra a preferred location for luxury residential purchases?
Bandra is a preferred location for luxury residential purchases due to its high-profile residents, connectivity, proximity to commercial and recreational hubs, and status as a premier residential destination.
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