Gautam Adani's BIG move, invests Rs 170 crore in ultra-exclusive property, it is located in...

The Adani Group has made a big real estate move by purchasing a premium land parcel in one of Mumbai’s most luxurious neighbourhoods—Carmichael Road in South Mumbai. The deal, which was completed on March 27, 2025, was made through the group’s subsidiary, Mah-Hill Properties. The company paid more than Rs 170 crore for the 1.1-acre land, along with over Rs 10.46 crore in stamp duty, according to property documents accessed by real estate consulting firm CRE Matrix.

This land parcel currently features a 2,760 sq ft residential cottage and is located in Malabar Hill, one of the city’s most prestigious and expensive localities. Though the Adani Group has not yet disclosed what it plans to build on this site, experts say the plot holds major development potential. As it is one of the few remaining large freehold plots in the area, the investment is being seen as a strategic move in Mumbai’s high-end real estate market.

The seller of the land is Behram Nowrosji Gamadia, who inherited the property from his family. The Gamadia family has owned the land since the early 1900s. Initially, the land was meant to be used as a children’s park, according to the city’s 1991 Development Plan. However, the Brihanmumbai Municipal Corporation (BMC) later revised the city’s land use plan, and under the Development Plan 2034, the plot is now officially classified as residential land.

Carmichael Road is home to some of India’s wealthiest individuals and top business executives. It’s also very close to major business districts, making it one of the most desirable addresses in the country.

This deal comes at a time when other major real estate transactions have also been reported in the same area. In October 2024, Gaurav Trehan, the CEO of KKR India, bought a luxurious sea-facing apartment in the Morena House project for Rs 88 crore. Earlier in June 2024, Nadir Godrej of Godrej Industries purchased three luxury apartments for Rs 180 crore in Ruparel House, also located in Malabar Hill. In April 2024, Anil Gupta, chairman of Wellknown Polyesters Ltd, spent Rs 270 crore on two apartments in Lodha Malabar, a luxury project by Macrotech Developers on Walkeshwar Road.

These high-value property deals reflect the strong demand for elite real estate in Mumbai and show how top Indian business leaders are investing in premium spaces.