Pramit Jhaveri Buys ₹38 Cr Luxury Apartment in South Mumbai
Former banking executive Pramit Jhaveri and his wife Mukeeta have acquired a premium South Mumbai apartment for over ₹38 crore, reflecting sustained demand in India’s fast-growing ultra-luxury housing segment.
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₹38.16 crore paid for a 2,805 sq ft luxury flat in South Mumbai
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Deal valued at ₹1.36 lakh per sq ft in JSW Realty’s Echay House
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Transaction registered in November 2025 with over ₹2.28 crore stamp duty
Mumbai: India’s luxury housing market continues to attract high-net-worth buyers, with Pramit Jhaveri and his wife, Mukeeta, purchasing a premium apartment on Carmichael Road in Mumbai for ₹38.16 crore, according to property registration records accessed by Zapkey.
The couple acquired the residence at Echay House, a project developed by JSW Realty, at a rate of approximately ₹1.36 lakh per square foot. The apartment offers a carpet area of 2,805 sq ft and comes with dedicated car parking spaces. Registration was completed on November 29, 2025.
Documents show that the buyers paid stamp duty exceeding ₹2.28 crore, along with a registration fee of ₹30,000, to formalise the transaction.
Jhaveri, who previously served as CEO of Citibank India, recently made headlines after deciding not to seek another term at the Sir Dorabji Tata Trust, one of the principal trusts associated with the Tata Group. His tenure is set to conclude on February 11.
Queries sent to JSW Realty regarding the transaction are awaiting response, while Jhaveri could not be reached for comment at the time of publishing.
Mumbai’s Ultra-Luxury Market Stays Strong
The deal comes amid a robust year for India’s ultra-luxury residential segment. In 2025 alone, affluent individuals and entities spent more than ₹7,100 crore across 51 marquee home purchases nationwide, highlighting growing appetite for premium properties in top urban locations.
Among the standout transactions of the year was pharmaceutical major USV chairperson Leena Gandhi Tewari’s acquisition of two sea-facing duplex apartments at Worli Sea Face for nearly ₹739 crore. Spread across multiple floors and covering more than 22,500 sq ft, the deal became India’s largest-ever residential transaction, underscoring Mumbai’s status as the country’s most coveted luxury housing market.
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Real estate experts say such high-value purchases reflect rising confidence among wealthy buyers, driven by limited supply in prime locations, improving infrastructure, and Mumbai’s enduring appeal as India’s financial capital.
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