NRI Couple Sets New Bandra West Record with ₹56 Crore Sea-Facing Apartment Purchase

A US-based Non-Resident Indian couple has reportedly established a new benchmark in Mumbai's luxury real estate market by acquiring two premium sea-facing apartments in the Satguru Kismet project for over ₹56 crore, according to recent property registration records.

Transaction Breaks Bandra West Pricing Records

Sources familiar with the deal revealed that both apartments were purchased at an unprecedented rate of ₹1.27 lakh per square foot, marking the highest price point recorded in Bandra West real estate market. Each unit reportedly spans 2,189 square feet with an additional 120 square feet balcony deck offering panoramic sea views.

Strategic Location Adds Premium Value

Industry experts noted that the property's location near cricket legend Sachin Tendulkar's residence and Carter Road significantly contributed to its premium pricing. The upcoming Bandra-Versova Sea Link project is expected to further enhance connectivity and property values in this coveted neighborhood, making it an attractive proposition for luxury sea-view flat investments.

Financial Structure and Registration Details

Property registration documents indicated that the buyers made an upfront payment of approximately ₹10 crore, with the remaining amount structured through phased installments. The registrations were completed on September 3, 2025, with stamp duty charges amounting to ₹1.68 crore and registration fees of ₹30,000 per apartment.

Project Development Timeline

The Satguru Kismet project remains under construction, with RERA documentation showing an expected completion date of December 2027. This timeline aligns with other major infrastructure developments transforming Mumbai's western suburbs.

Market Analysis and NRI Investment Trends

Real estate analysts suggested that this transaction reflects growing confidence among affluent NRIs in Mumbai's luxury property segment. The deal comes amid recent policy changes that have reduced Tax Deducted at Source (TDS) for NRI property purchases, though the absence of indexation benefits continues to impact long-term tax calculations for overseas investors.

Luxury Real Estate Market Implications

This high-value transaction adds to the growing list of Mumbai's high-end market developments and reinforces the city's position as India's premier luxury real estate destination. The deal is comparable to other recent premium transactions in areas like Marine Drive and Altamount Road.

Investment Outlook

Market observers indicated that such transactions demonstrate the sustained demand for premium properties offering lifestyle amenities, strategic locations, and long-term appreciation potential. The investment reflects confidence in Mumbai's infrastructure development plans and the enduring appeal of sea-facing properties among high-net-worth individuals.