US-Based NRI Couple Invests in Mumbai’s Luxury Real Estate with Sea-Facing Apartments in Bandra
A US-based NRI couple has made a significant investment in Mumbai’s real estate market by purchasing two sea-facing luxury apartments in Bandra. The properties, part of the Satguru Kismet project, are among the most expensive in the area.
Mumbai Real EstateNri InvestmentLuxury ApartmentsBandraSeafacing ApartmentsReal Estate NewsSep 05, 2025
The apartments, each measuring 2,189 sq ft with an additional balcony deck of around 120 sq ft, are located close to Sachin Tendulkar’s bungalow, Carter Road, and the upcoming Bandra-Versova Sea Link connector. Local brokers noted that the transaction is among the highest rates in Bandra West, with some apartments in Pali Hill fetching over ₹1.40 lakh per sq ft.
The buyers made a down payment of nearly ₹10 crore to the developer, with the balance to be paid in phases. They also paid a stamp duty of ₹1.68 crore each and a registration fee of ₹30,000 each to complete the purchase. The transaction was registered on September 3, 2025, and the Satguru Kismet project is currently under construction with a RERA deadline of December 2027.
According to tax experts, the Tax Deducted at Source (TDS) on NRI property transfers has been reduced from earlier highs of 20.8%–23.92% to 13%–17.81% (including surcharge and cess) post July 23, 2024. However, NRIs do not benefit from indexation when selling the property, which can increase their tax burden. CA Aditya Zantye, Partner at AKORD & CO, explained, “While the TDS reduction is a welcome relief, cash flows still remain under pressure unless a Lower Deduction Certificate is obtained. Unlike residents, NRIs cannot choose between with or without indexation, which increases their tax burden while selling property in India.”
Bandra is a central location in Mumbai, famous for the Bandra Kurla Complex (BKC), which is the country’s costliest commercial district. The area is also synonymous with Bollywood, as many actors and actresses own properties there. Bollywood stars like Salman Khan, Shahrukh Khan, Aamir Khan, Ranbir Kapoor, Alia Bhatt, Deepika Padukone, and Sanjay Dutt all have residences in Bandra. The area is home to several sea-facing and sea-view luxury apartments, making it a prime location for high-end real estate investments.
The difference between sea-facing and sea-view apartments is significant. Sea-facing apartments, such as those on Marine Drive, offer direct views of the sea. In contrast, sea-view apartments, often found in taller buildings near locations like Churchgate station, provide expansive views of the sea, sometimes surpassing the direct views from sea-facing residences. This distinction can affect the price and desirability of properties in the area.
Frequently Asked Questions
What is the cost per sq ft for the sea-facing apartments in Bandra?
The sea-facing apartments in Bandra were sold at a record rate of ₹1.27 lakh per sq ft.
How much did the NRI couple pay as a down payment?
The NRI couple made a down payment of nearly ₹10 crore to the developer.
What is the RERA deadline for the Satguru Kismet project?
The RERA deadline for the Satguru Kismet project is December 2027.
What is the difference between sea-facing and sea-view apartments?
Sea-facing apartments offer direct views of the sea, while sea-view apartments, often in taller buildings, provide expansive views of the sea, sometimes surpassing the direct views from sea-facing residences.
Why is Bandra a popular location for luxury real estate investments?
Bandra is a central location in Mumbai, famous for the Bandra Kurla Complex (BKC), and is home to several Bollywood stars. The area is known for its sea-facing and sea-view luxury apartments, making it a prime location for high-end real estate investments.
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