US-Based NRI Couple Snags Two Luxury Sea-Facing Apartments in Mumbai’s Bandra
A US-based NRI couple has made a significant investment in Mumbai’s real estate by purchasing two sea-facing luxury apartments in Bandra for over ₹56 crore, at a record rate of ₹1.27 lakh per sq ft.
Mumbai Real EstateNri InvestmentLuxury ApartmentsBandraSeafacing ApartmentsReal EstateSep 05, 2025
The apartments, part of the Satguru Kismet project in Bandra West, are located close to Sachin Tendulkar’s bungalow, Carter Road, and the upcoming Bandra-Versova Sea Link connector. The documents show that the two apartments measure 2,189 sq ft each and have a balcony deck area of around 120 sq ft each.
The two sea-facing apartments were sold at ₹1.27 lakh per sq ft, among the highest rates in Bandra West. Local brokers noted that in Pali Hill, Bandra West, some apartments have fetched over ₹1.40 lakh per sq ft. As per property registration documents, the buyers made a down payment of nearly ₹10 crore to the developer, with the balance to be paid in phases.
The homebuyers paid a stamp duty of ₹1.68 crore each and a registration fee of ₹30,000 each to purchase the two apartments. According to the documents, the transaction was registered on September 3, 2025. The documents show that Satguru Kismet is an under-construction project with a RERA deadline of December 2027.
An email query sent to Satguru Builders did not elicit a response. The story will be updated if a reply is received. The NRI couple has requested anonymity.
According to tax experts, the Tax Deducted at Source (TDS) on NRI property transfers has been reduced. However, NRIs do not benefit from indexation when selling the property. “The TDS range 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. While this 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,” said CA Aditya Zantye, Partner, AKORD & CO.
At the same time, global shifts such as the proposed Trump ‘Big Beautiful Bill’ which aims to overhaul US taxation by lowering corporate rates, tweaking capital gains treatment, and introducing stricter anti-avoidance provisions could significantly affect cross-border investments and tax planning strategies for NRIs. In this environment, proactive planning becomes critical, Zantye said.
Geographically, Bandra is the center and is famous for Bandra Kurla Complex (BKC), the country’s costliest commercial district, where several top domestic and international companies have their base. Bandra is also synonymous with Bollywood, as this is the place where several actors and actresses have bought property. Bollywood stars Salman Khan, Shahrukh Khan, Aamir Khan, Ranbir Kapoor, Alia Bhatt, Deepika Padukone, Tripti Dimri, and Sanjay Dutt, among several others, own a property or reside in Bandra. Bollywood legends Dilip Kumar and Rishi Kapoor also lived in the area.
Bandra is also home to several sea-facing and sea-view luxury apartments. Marine Drive in Mumbai is a prime example of sea-facing apartments. In contrast, sea-view apartments, such as those near Churchgate station, are typically in taller buildings that offer expansive views of the sea, often surpassing the view from Marine Drive’s sea-facing residences.
Frequently Asked Questions
What is the cost per sq ft for the apartments purchased by the NRI couple?
The apartments were purchased at a record rate of ₹1.27 lakh per sq ft.
Where is the Satguru Kismet project located?
The Satguru Kismet project is located in Bandra West, Mumbai, close to Sachin Tendulkar’s bungalow, Carter Road, and the upcoming Bandra-Versova Sea Link connector.
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 are directly adjacent to the sea, while sea-view apartments are typically in taller buildings that offer expansive views of the sea, often from a greater distance.
What are the tax implications for NRIs purchasing property in India?
NRIs benefit from a reduced TDS rate on property transfers, but they do not benefit from indexation when selling the property, which can increase their tax burden.
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