Adani Group’s Mah-Hill Properties Acquires 48,000 Sq Ft Land in South Mumbai for ₹170 Crore

Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired a 48,491 sq ft land parcel in Malabar Hill, South Mumbai, for ₹170 crore. The transaction, officially registered on March 27, 2025, includes a 257 sq m structure and is one of the rarest bungalow plots available in this prime residential locality.

The land was sold by Behram Nowrosji Gamadia, whose family has owned the property since the pre-independence era. As per property registration documents accessed by CRE Matrix, the deal involved a stamp duty payment of ₹10.46 crore and a registration fee of ₹30,000.

Malabar Hill remains one of the most expensive residential markets in India, with luxury apartments in the area commanding prices of ₹1 lakh per sq ft and above for new constructions. The scarcity of large plots in the area has made transactions of this scale infrequent.

Significance of the Acquisition

Industry experts note that this acquisition underscores a growing trend where high-value real estate transactions in South Mumbai continue to attract corporate investors. With premium land parcels becoming increasingly scarce, developers and investors see such acquisitions as long-term strategic moves. The purchase aligns with the Adani Group’s broader expansion strategy, which has included investments in infrastructure, ports, and now premium real estate holdings.

Real estate analysts suggest that Mah-Hill Properties Pvt Ltd may develop a luxury residential project or an exclusive commercial space, capitalizing on the high-value location. The property’s prime positioning offers potential for high returns, given the sustained demand for ultra-luxury real estate in South Mumbai.

Market Trends in South Mumbai Real Estate

Over the past decade, South Mumbai has witnessed steady appreciation in property values due to limited land availability and high demand from ultra-high-net-worth individuals. Malabar Hill, in particular, remains a preferred location for business tycoons, celebrities, and senior corporate executives. The area’s exclusivity, connectivity, and proximity to business hubs make it a sought-after destination.

In recent years, corporate entities have increasingly entered the luxury residential market, acquiring prime properties for redevelopment or high-end residential projects. This trend indicates a shift in real estate investment strategies, with companies focusing on premium locations for long-term value generation.

Recent Notable Real Estate Deals in South Mumbai

The Malabar Hill transaction follows another significant deal last month. Laxmi Nivas, a heritage bungalow on Nepean Sea Road, was sold for ₹276 crore. The bungalow, historically linked to the Quit India Movement, was owned by the Kapadia family and has now been acquired by Vageshwari Properties Private Limited. One of the company’s directors, Elina Nikhil Meswani, is the wife of Reliance Industries Limited executive director Nikhil R Meswani.

These high-value transactions reflect the sustained demand for premium real estate in South Mumbai. The combination of historical significance, prime locations, and limited supply continues to drive property values in this segment.

The growing number of corporate acquisitions in the luxury residential market indicates a shift towards strategic investments in South Mumbai’s real estate. With Malabar Hill and Nepean Sea Road remaining key locations, more transactions of this nature are expected in the coming months.