S Raheja has closed a ₹6.28 billion penthouse Deal in Bandra, Mumbai

• ₹6.28 billion penthouse sold at Evergreen, Perry Road, Bandra

• Effective price around ₹1.37 lakh per sq ft

• Deal reflects strong appetite for rare, low-density luxury homes

Mumbai: Mumbai’s ultra-luxury residential market ended 2025 on a strong note with a 6.28 Billion Penthouse Deal concluded by S Raheja in Bandra, reaffirming buyer appetite for rare, high-value homes in legacy neighbourhoods.

The transaction involves the sale of an expansive penthouse at Evergreen, a premium residential development located on Perry Road, Bandra. Registered on 15 December 2025, the deal stands among the most notable high-ticket residential transactions recorded in the Bandra micro-market last year.

Often described as a “villa in the sky”, the penthouse is designed to offer a level of scale and privacy that is increasingly difficult to find in Mumbai. The residence features large private terraces, a double-height living area, and open layouts that blur the line between indoor and outdoor living—an attribute highly sought after in the city’s dense urban fabric.

With a RERA carpet area of 4,583 sq ft, the sale translates to an effective price of approximately ₹1.37 lakh per sq ft, placing it firmly among the higher-priced residential deals in Bandra. Market observers note that such pricing is achievable only for properties that combine location, exclusivity, and architectural distinction.

The penthouse has been acquired by members of the Singh family, founders of Alkem Laboratories, further highlighting a growing trend among prominent business families to invest in bespoke, low-density residences rather than large-scale gated developments. Established neighbourhoods such as Bandra continue to attract such buyers due to their social infrastructure, connectivity, and long-term value stability.

Real estate experts say the 6.28 Billion Penthouse Deal reflects the resilience of Mumbai’s luxury housing segment, even as broader residential markets remain price-sensitive. Demand at the top end is being driven by limited supply, rising wealth concentration, and a preference for one-of-a-kind homes that offer both prestige and permanence.

As Mumbai’s residential market moves into 2026, deals like Evergreen signal that ultra-luxury housing—especially properties with generous space, privacy, and legacy locations—will continue to command strong interest and premium pricing. Developers and investors alike see such transactions as indicators of a structurally healthy luxury market, relatively insulated from short-term economic fluctuations.