Pirojsha Adi Godrej, the Chairperson of Godrej Properties, along with his cousin Freyan Crishna Bieri, has acquired four apartments in one of his company’s developments, Godrej Carmichael, at an unprecedented price of ₹1.78 lakh per square foot (PSF). Godrej purchased his flats through Ceres Developers, of which he is a director along with Clement George Pinto, Godrej Industries’ chief financial officer. This project is located off Peddar Road, behind Jindal Mansion.
The previous highest recorded property transaction in this area of Mumbai was conducted by JSW at Morena House for ₹1.63 lakh per square foot. Therefore, the transaction at ₹1.78 lakh per square foot sets a new record in this Mumbai micro market, often referred to as Billionaires’ Row. The most expensive property purchase in Mumbai remains that of banker Uday Kotak, who acquired the Shiv Sagar building on Worli Sea Face for ₹2.72 lakh per square foot in February.
According to documents obtained from the property portal IndexTap, the apartments acquired by Ceres Developers were registered on March 25, while Freyan’s apartment was registered on March 9. The total cost for all four apartments amounted to ₹290.59 crore, with a combined stamp duty of approximately ₹17.5 crore.
Freyan’s apartment, spanning 4,359.92 square feet on the 22nd floor, was acquired for ₹74.02 crore, translating to a cost of ₹1,69,776 per square foot.
According to the transaction details, Ceres Developers purchased two of the three apartments, each measuring 4,359.92 square feet, for ₹77.77 crore and ₹75.87 crore, respectively. This results in record prices of ₹1,78,372 and ₹1,74,021 per square foot for the apartments located on the 24th and 23rd floors. The third apartment, situated on the 25th floor and covering 3,527.54 square feet, was purchased for ₹20.97 crore, equating to ₹1,78,372 per square foot.
The Godrej Carmichael project will feature one floor each in the basement, ground level, and 30 additional floors, including eight podium levels. The building will reach a height of 119.92 meters, providing views of the Arabian Sea, Mahalaxmi Racecourse, and the Willingdon Club. The completion of this project is anticipated in December 2030.
