Real Estate Market
The Mumbai real estate market, despite being one of the most expensive and land-constrained in India, witnessed several high-value transactions in 2024. Here are the top five noteworthy land deals, collectively valued at over ₹2,500 crore.
1. Century Textiles Acquires 10 Acres in Worli for ₹1,100 Crore
Century Textiles and Industries Limited (CTIL) secured ownership of a 10-acre leasehold plot in Worli, Mumbai, from Nusli Wadia in September 2024 for ₹1,100 crore. The site, to be developed by Birla Estates Pvt Ltd, is projected to generate ₹14,000 crore in revenue from luxury real estate projects. The Worli locality remains a hotspot in Mumbai’s booming premium property market.
2. Runwal Group Purchases Kansai Nerolac Land for ₹726 Crore
In October 2024, Kansai Nerolac Paints sold its Lower Parel land parcel and building to Runwal Developers for ₹726 crore. The Runwal Group intends to create a high-end residential project on this land, with potential revenues estimated at ₹8,000 crore.
3. Shapoorji Pallonji Sells Juhu Plot for ₹455 Crore
A 19,589.22 sq ft plot in Mumbai’s upscale Juhu area was sold by the Shapoorji Pallonji Group to Agarwal Holdings Private Limited for ₹455 crore in November 2024, as per property registration documents accessed by Square Yards.
4. Mahindra & Mahindra Disposes of 20.5 Acres in Kandivali for ₹210 Crore
Mahindra and Mahindra Ltd sold a 20.5-acre land parcel in Mumbai’s Kandivali locality to Blueprintify Properties Pvt Ltd, part of Pune’s Rucha Group, for ₹210 crore. The sale, finalized in July 2024, is detailed in registration documents provided by CRE Matrix.
5. Equinix India Acquires Chandivali Plot for ₹155 Crore
US-based data center company Equinix India Pvt Ltd purchased 5,597 sq m (1.38 acres) of land in Mumbai’s Chandivali area in November 2024 for ₹155 crore. The site includes a built-up structure of 5,386 sq m and will support Equinix’s data center expansion in the city.
Nationwide Land Transactions in 2024
According to real estate consultancy CRE Matrix, over 100 land deals totaling around 1,700 acres were concluded across six major Indian cities between January and September 2024. This marked a 65% year-on-year increase in volume, compared to the 60-plus deals in the same period last year.
City-Wise Highlights:
- Delhi-NCR: Leading with a 32% share, Gurgaon contributed 65% and Noida/Greater Noida 20%.
- Bengaluru, Mumbai, and Chennai: Accounted for 22%, 12%, and 10%, respectively.
Combined, these four cities constituted approximately 75% of total land deal activity during this period.
Mumbai’s top land deals in 2024 reflect the city’s enduring allure for real estate investments, even as competition intensifies across other metro cities.
Chirag Singh is a content writer with a focus on real estate, covering topics like News, Guidance, Tips, Property trends and Investments. He has written for various platforms, providing helpful insights to readers. With a background in real estate, Chirag combines his knowledge and passion for real estate in his work. He enjoys staying updated on the latest industry trends.
