Former HDFC Bank Senior Executive Acquires ₹52.49 Crore Sea-Facing Residence in Mumbai's Prestige Nautilus

A prominent former banking executive from HDFC Bank has completed one of Mumbai's most significant luxury residential transactions, signaling robust demand in the city's ultra-premium property segment. The high-value acquisition demonstrates the continued appeal of South Mumbai's exclusive real estate market among affluent professionals.

Banking Veteran Makes Major Real Estate Move

Paresh Sukthankar, who previously served as Deputy Managing Director at HDFC Bank and currently leads Sanaksh Advisors LLP as Founder and Lead Partner, has acquired a luxury apartment in the prestigious Prestige Nautilus project in Worli for ₹52.49 crore. The transaction was officially registered on September 3, 2025, marking one of the substantial property deals in Mumbai's luxury housing market this year.

The purchased unit is located on the 38th floor of Tower N1, Wing F, Unit 3801, offering commanding views of the Mumbai skyline and Arabian Sea. This acquisition reflects the growing trend of successful business leaders investing heavily in luxury sea view apartments in South Mumbai for both investment and lifestyle purposes.

Property Specifications and Financial Details

The transaction involved a spacious apartment with a RERA-registered carpet area of 4,378 square feet, though the total carpet area extends to approximately 5,249 square feet. This pricing structure resulted in rates of approximately ₹1.19 lakh per square foot based on RERA carpet area, or ₹1.00 lakh per square foot when calculated against the overall carpet area.

The property purchase included four dedicated car parking spaces, a significant amenity given Mumbai's parking constraints. The buyer paid ₹3.14 crore in stamp duty along with a registration fee of ₹30,000, bringing the total transaction cost beyond the base purchase price. Industry experts note that such comprehensive amenities and prime location justify the premium pricing in Mumbai's competitive luxury market.

Market Impact and Luxury Segment Trends

This acquisition underscores the resilience of Mumbai's luxury real estate sector, particularly in Worli, which has emerged as one of the city's most sought-after addresses. Prestige Nautilus, positioned as a high-end luxury sea-facing residential project, commands some of the highest per-square-foot rates in South Mumbai, reflecting its premium positioning and superior amenities.

Real estate analysts suggest that such high-value transactions indicate continued confidence among high-net-worth individuals in Mumbai's property market despite broader economic uncertainties. The deal also reinforces Worli's status as a preferred destination for luxury housing, competing with traditional premium areas like Malabar Hill and Cuffe Parade. For those exploring similar investment opportunities, understanding stamp duty subsidies and registration benefits can be crucial for making informed decisions.

The transaction timing coincides with Mumbai's broader real estate renaissance, where luxury segments continue to show strong performance while affordable housing faces various market pressures. This trend suggests that affluent buyers remain committed to investing in prime real estate as a hedge against inflation and as a lifestyle upgrade.

Such substantial investments by former banking executives also reflect their confidence in Mumbai's long-term growth prospects and the potential for capital appreciation in well-located luxury properties. The acquisition pattern indicates that successful professionals from the financial services sector view premium real estate as an essential component of their investment portfolio.