Harsh Jain, Co-founder of Dream11, Acquires ₹138 Crore Luxury Apartment in South Mumbai

Harsh Anand Jain, the CEO and co-founder of Dream11, has made a significant real estate investment in South Mumbai, with acquisition of a luxury apartment for over ₹138 crore. According to property registration documents accessed by IndexTap, Jain's new property is located in the prestigious Lodha Malabar Palaces by the Sea project in the Walkeshwar area of South Mumbai, a region renowned for its exclusivity and high real estate prices.

The luxurious apartment spans a vast 9,546 square feet and is situated on a higher floor of the 31-storey residential tower, which is being developed by Macrotech Developers, also known as the Lodha Group, a leading listed real estate company. The deal was registered on January 9, 2025, and included the purchase of six parking spaces, further elevating the convenience and luxury of the property. The apartment was priced at ₹1.45 lakh per square foot, which is in line with the area's high-end real estate market.

The transaction also saw a substantial stamp duty of ₹8.30 crore, underscoring the premium nature of the purchase. Harsh Jain, known for his entrepreneurial success in the online gaming industry with Dream11, joins an elite list of high-net-worth individuals (HNIs) who have invested in the Lodha Malabar Palaces project.

Lodha Malabar Palaces by the Sea has become a highly sought-after address for luxury buyers. The project, located in one of the most expensive residential areas in Mumbai—Malabar Hill—has attracted notable buyers in the past, including top CEOs, business tycoons, and prominent industrialists. The area is known for its premium real estate, with homebuyers typically being individuals who can afford homes priced between ₹1 lakh and ₹1.50 lakh per square foot.

This latest deal in the Lodha Malabar project is not an isolated one. In March 2023, Bajaj Auto Chairman Niraj Bajaj purchased a sea-facing triplex apartment for ₹252.5 crore in the same project. Additionally, the family of industrialist J.P. Taparia, the founder of Famy Care, acquired six sea-facing properties for around ₹369 crore in the same development. These high-profile transactions highlight the continuing demand for ultra-luxury properties in Mumbai's most coveted locations.

The Lodha Malabar Palaces by the Sea project has been designed with exceptional attention to detail and boasts world-class amenities, including expansive sea views, lush green landscapes, and high-end finishes. It is fast becoming one of Mumbai's most iconic residential towers, attracting attention from billionaires, top business leaders, and celebrities.

In April 2024, two apartments in the Lodha Malabar project were sold to Anil Gupta, the chairman and managing director of Wellknown Polyesters Ltd., for ₹270 crore. These transactions further underscore the continued appeal of the project among the country's wealthiest individuals.

Harsh Jain's real estate investment is a notable step in his portfolio expansion, which reflects the growing trend of ultra-high-net-worth individuals making significant investments in prime properties across India. Mumbai, with its scarce luxury real estate inventory and ever-increasing demand, remains a hotspot for these high-value investments.

Dream11, the online fantasy sports platform co-founded by Jain in 2008, has gained massive popularity over the years, contributing to his wealth and business acumen. The company’s success, particularly in the Indian market, has helped Jain and his co-founder Bhavit Sheth build substantial fortunes, allowing them to make such lavish investments in real estate.

The luxury real estate market in Mumbai has shown resilience and growth, with demand continuing to rise among affluent individuals looking for exclusive living spaces in the city’s most prestigious neighborhoods. The Lodha Malabar Palaces project is a prime example of the increasing trend of luxury real estate developments in Mumbai, catering to a select group of HNIs and ultra-high-net-worth individuals.

As the demand for luxury properties in South Mumbai shows no signs of slowing down, projects like Lodha Malabar Palaces are likely to continue attracting high-profile buyers, securing their place as some of the most sought-after residences in the country.