Adani Group has secured a prime 1.1-acre land parcel in South Mumbai’s prestigious Carmichael Road, located in the exclusive Malabar Hill area, for Rs. 170 crore. This acquisition, made through its subsidiary Mah-Hill Properties, is one of the rare large freehold plots available in the highly sought-after locality, making it a significant addition to the group’s real estate portfolio.
Prime Location with Unique Development Potential
The Carmichael Road area is known for its ultra-luxury residences and historic mansions, housing some of the most influential industrialists and business leaders in the country. The land parcel currently holds an old residential cottage spanning 2,760 square feet. Given its size and location, the site presents a valuable opportunity for high-end development, although it remains unclear whether the plot will be developed into a high-rise luxury building or a sprawling bungalow.
This acquisition is notable not only for its size but also for the scarcity of available large plots in this area, making it an attractive investment with breathtaking views of the Arabian Sea and proximity to key financial hubs, properties in this neighborhood command among the highest real estate prices in India, further underscoring the strategic value of this purchase.
Transaction and Legal Details
The deal, finalized on March 27, 2025, included a stamp duty payment of Rs. 10.46 crore. Before the transaction, the property had been involved in legal disputes, which were resolved through consent terms submitted and accepted by the court, clearing the path for the acquisition. Despite inquiries, the Adani Group has not responded to emails seeking clarification on the development plans for the site.
Carmichael Road: An Exclusive Address in South Mumbai
Carmichael Road, located in the affluent Malabar Hill area, is one of Mumbai’s most coveted and exclusive addresses. The locality is renowned for its luxury residences, some of which are historic mansions, offering panoramic views of the Arabian Sea and easy access to the city’s business districts. The area’s limited supply of real estate, combined with its unmatched location, drives high demand and real estate values, making it one of the most expensive in the country.
This acquisition aligns with Adani Group's strategy to expand its presence in South Mumbai's premium real estate market, which has long been a hub for high-net-worth individuals and influential corporate leaders.
The Future of the Acquisition
While the specific plans for the property have not yet been disclosed, the location’s exclusivity and potential for high-value development make it an attractive prospect for luxury residential projects. Whether Adani Group chooses to build a high-rise structure or a luxurious bungalow, the development is expected to set new benchmarks for high-end living in one of Mumbai’s most coveted locations.