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Sanjay Nayar has purchased a luxury apartment in south Mumbai's plush Carmichael Road. He is the founder of Sorin Investment Fund.
He is also the former chief executive officer of KKR India. The deal is valued at Rs 90 crore. It ranks among the country's most expensive residential property transactions on a per sq ft basis.
Deal Details
The transaction involves a 4,537.29 sq ft apartment. It sits on the first floor of Kamal Mahal.
The building belongs to Anand Kamal Co-operative Housing Society Ltd. The address is M L Dahanukar Marg, also known as Carmichael Road. The deal works out to around Rs 1.98 lakh per sq ft, based on the carpet area.
- Deal value: Rs 90 crore
- Rate: approximately Rs 1.98 lakh per sq ft, based on carpet area
- Includes an open garage measuring 225.89 sq ft
- Total registered area, including garage: 5,448.9 sq ft
The transaction was registered on Tuesday. Registration documents were accessed through Zapkey.com.
About Kamal Mahal and the Neighbourhood
Kamal Mahal was earlier known as Sethna House. It was developed over seven decades ago.
It was among the first buildings to come up on Carmichael Road. The seven-storey Kamal Mahal and the adjacent Anand building sit on a two-acre plot with a landscaped garden.
Malabar Hill, along with nearby areas such as Cumballa Hill and Altamount Road, has remained among Mumbai's most sought-after residential locations.
Transactions for large apartments in this area often command substantial ticket sizes and set new benchmarks.
Also Read: Nadiadwala Grandson Leases Andheri Office for ₹2.46 Crore
About Sanjay Nayar
Nayar founded Sorin Investment Fund in December 2022. It is an investment platform focused on growth and private equity investments.
He previously served as CEO of KKR India. He is also a board member of FSN E-Commerce Ventures, the parent company of Nykaa.
ET's email query to Nayar remained unanswered until the time of going to press.
Also Read: Sachin Tendulkar Buys 3.86-Acre Lonavala Land for ₹70 Crore
Wider Trend in Mumbai's Luxury Market
This purchase adds to a series of high-value residential transactions in Mumbai's premium neighbourhoods.
Limited inventory, large-format apartments, and strong demand for trophy residences continue to support elevated property values.
The latest transaction comes amid continued activity in Mumbai's luxury residential market.
This is particularly true for large apartments in established south and central Mumbai neighbourhoods.
High-value transactions have also been recorded in areas such as Worli, Prabhadevi, Bandra, and Juhu. This demand is driven by entrepreneurs, corporate executives, and investors.
The nearly Rs 100-crore purchase underscores the continued willingness among high-net-worth buyers to acquire large-format residences.
This is especially true in Mumbai's established luxury markets, where the availability of sizeable apartments remains relatively limited.
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