Reliance Buys 3 Apartments at One Altamount Road for ₹85 Cr

• Three apartments bought for ₹85 crore in South Mumbai

• Nearly ₹5.10 crore paid in stamp duty

• Property located in Mumbai’s prestigious Altamount Road belt

Reliance Industries Limited (RIL) has added three high-end residential units to its portfolio, acquiring apartments at One Altamount Road in South Mumbai for a total consideration of ₹85 crore, according to property registration documents accessed by CRE Matrix.

The transaction was officially registered on February 10, 2026. Documents show that the company paid close to ₹5.10 crore in stamp duty for the deal. The seller of the properties was India Best Buy Private Limited.

The purchase includes three residential units with a combined carpet area of approximately 3,162 square feet. Among them is a primary apartment measuring around 2,004.8 square feet, along with two additional units of about 578.67 square feet each.

Prime Address in South Mumbai

One Altamount Road is located in the highly sought-after Altamount Road–Cumballa Hill corridor — widely regarded as one of Mumbai’s most exclusive residential zones. The area is home to prominent industrialists, business families, and ultra-high-net-worth individuals who prefer central yet prestigious city addresses.

Altamount Road has long been synonymous with wealth and influence, offering proximity to business districts, premium social infrastructure, and panoramic city views. Despite premium pricing, demand for properties in this micro-market has remained steady.

Luxury Market Momentum Continues

Mumbai’s luxury real estate segment has been witnessing consistent high-value transactions over the past year. Corporates, entrepreneurs, and NRIs continue to invest in premium homes across South and Central Mumbai, indicating strong confidence in the city’s top-tier housing market.

In a recent notable deal, Radha Tanti — angel investor and wife of Suzlon Energy executive vice chairman Girish Tanti — acquired a luxury apartment in Worli for ₹123.5 crore. In another high-value transaction, a US-based NRI purchased two sea-facing apartments in Bandra West for ₹56 crore.

Industry observers say that while overall housing demand may fluctuate with market cycles, the ultra-luxury segment in prime locations such as Altamount Road, Worli, and Bandra West continues to attract buyers seeking exclusivity, legacy assets, and long-term value appreciation.

Reliance Industries’ latest purchase further underscores how marquee addresses in South Mumbai remain resilient and desirable, even amid evolving market conditions.