Deep Financial Consultants Director Acquires Luxury Flat in Mumbai for Over Rs 105 Crore

Urjita Jagdish Master, Director of Deep Financial Consultants, has made a major acquisition in Mumbai’s luxury real estate market by purchasing a sea-view apartment at Oberoi Three Sixty West for a sum exceeding Rs 105 crore. This purchase highlights the continuing trend of high-net-worth individuals (HNIs) investing in premium properties in Mumbai, one of India’s most sought-after real estate markets.

The Deal Details: Apartment, Valuation, Stamp Duty and Cash Flow

Located in the prestigious Worli area, the apartment occupies the 59th floor of the renowned Oberoi Three Sixty West tower. Spanning an impressive 7,139 square feet, it offers stunning panoramic views of the Arabian Sea. 

The transaction is one of the most expensive residential deals in India, priced at Rs 1.50 lakh per square foot. When the project was first launched, the price per square foot ranged between Rs 70,000 and Rs 80,000, reflecting a significant appreciation in value over time. The continued demand for high-end real estate in Mumbai, coupled with the development’s maturity, has pushed the price to its current premium level.

The total cost of the apartment exceeds Rs 105 crore, and Jagdish Master also paid Rs 2.89 crore in stamp duty. The deal, registered on November 13, 2024, also included the acquisition of five exclusive car parking slots. This brings the total transaction amount, including all associated fees, to over Rs 110 crore, highlighting the substantial cash flow generated by this deal in Mumbai's luxury market.

Oberoi Three Sixty West: A Premier Address

Oberoi Three Sixty West, developed by Oberoi Realty, is a luxurious residential tower in Mumbai's exclusive Worli neighborhood. Offering world-class amenities like a fitness center, spa, swimming pool, and concierge services, it caters to the city's elite. Completed in phases, with the final tower finished in 2023, it has attracted high-net-worth individuals, corporate leaders, and celebrities due to its prime location and luxury offerings.

About Urjita Master and Deep Financial Consultants

Urjita Master, alongside her business partner Jagdish Master, co-founded Deep Financial Consultants, a firm that specializes in wealth management and financial advisory services. Over the years, the company has built a strong reputation for assisting clients in growing their portfolios and making informed investment decisions. Deep Financial Consultants has catered to a select group of high-net-worth individuals and corporates, offering tailored financial solutions.

Mumbai's Luxury Real Estate Market: 2024 Overview

Mumbai’s luxury real estate market has remained resilient in 2024, with a notable surge in the demand for properties priced over Rs 10 crore. According to recent data from agencies like Knight Frank and CRE Matrix, the first half of 2023 saw a 47% increase in sales of luxury homes, particularly in the price brackets of Rs 40-70 crore. The growth in this segment is driven by a combination of factors, including an increase in wealth among India’s elite, the growing appetite for larger living spaces, and a general shift toward more exclusive and spacious homes.

The overall luxury real estate market in Mumbai continues to be among the most active in the country, with multiple transactions recorded in prime localities such as South Mumbai, Worli, and the Bandra-Kurla Complex (BKC).

Factors Driving the Rise in Luxury Market Cash Flows

Several factors have contributed to the rise in luxury real estate transactions in Mumbai. A key driver is the growing wealth of India’s elite, particularly among entrepreneurs, business leaders, and celebrities. Mumbai, being India’s financial capital, naturally attracts high-net-worth individuals, many of whom are looking for premium properties in the city. 

Additionally, low-interest rates and rising equity markets have encouraged further investment in real estate, with buyers less sensitive to short-term financial fluctuations. For many in the luxury market, purchasing a high-end property is not merely an investment but also a symbol of status and success.

Another factor contributing to the boom in the luxury market is the growing preference for large, sprawling residences that offer privacy, exclusivity, and luxury amenities. Buyers are increasingly opting for homes that provide not just space but also state-of-the-art facilities such as private pools, gyms, and home automation systems. 

Upcoming Trends in Mumbai's Luxury Real Estate Market

As the luxury real estate market in Mumbai continues to thrive, there are several key trends to watch in the coming years. 

1. Prime Localities to Watch: Areas such as South Mumbai, Bandra, Juhu, and Worli remain the hotspots for luxury real estate transactions. These areas are expected to maintain their appeal due to their proximity to the city’s commercial hubs, iconic landmarks, and affluent neighborhoods. Additionally, upcoming developments in areas like BKC and the coastal road are likely to further elevate the value of properties in these regions.

2. Sustainability and Green Building Practices: With the growing emphasis on environmental sustainability, luxury buyers are showing a preference for homes built with eco-friendly materials and energy-efficient technologies. Expect to see more luxury developments incorporating sustainable practices like solar panels, rainwater harvesting systems, and energy-efficient appliances.

3. Increase in International Buyers: Mumbai’s luxury real estate market is also witnessing growing interest from international buyers, particularly from the Middle East and Southeast Asia. These buyers are looking for high-end properties as both a lifestyle choice and an investment opportunity. 

Mumbai’s luxury real estate market continues to evolve, with high-net-worth individuals increasingly making large investments in residential properties. The recent acquisition by Jagdish Master is a testament to the growing demand for premium homes in the city, which remains one of the most sought-after locations for luxury real estate in India.

The rise in luxury market cash flows can be attributed to a combination of factors, including growing wealth, low-interest rates, and a preference for spacious, high-end properties. As the market continues to mature, luxury properties in prime locations like South Mumbai and Worli are expected to remain in high demand. With trends like sustainability gaining traction and international buyers showing increasing interest, Mumbai’s luxury real estate sector looks set to remain a major player in the global market.