Mumbai real estate: Adani Group subsidiary acquires over 48,000 sq ft of land in South Mumbai for ₹170 crore

Behram Nowrosji Gamadia has sold the land and a 257 sq m structure in Malabar Hill, South Mumbai

Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired over 48,000 sq ft of land in South Mumbai's Malabar Hill for ₹170 crore, according to property registration documents accessed by CRE Matrix.

Mumbai real estate update: Mah-Hill Properties Pvt Ltd, a subsidiary of the Adani Group, has acquired over 48,000 sq ft of land in South Mumbai's Malabar Hill for ₹170 crore.(HT Photo by Kunal Patil )

Behram Nowrosji Gamadia sold the land and a 257 sq m structure. Records indicate that the property is a legacy asset, with ownership dating back to pre-independence through the Gamadia family.

The total area of the land is 48,491 sq ft, and the purchase transaction was officially registered on March 27, 2025.

The documents show that a stamp duty of ₹10.46 crore and a registration fee of ₹30,000 were paid to purchase the land.

According to local brokers, this is one of the rarest bungalow plots near Malabar Hill in South Mumbai. Malabar Hill is one of the costliest residential real estate markets in India.

Local brokers added that the per-square-foot rate of luxury apartments in Malabar Hill is ₹1 lakh per sq ft and above for new construction.

An email query sent to Mah-Hill Properties Pvt Ltd did not receive a response. The seller, Behram Nowrosji Gamadia, could not be reached for comment.

Other deals in South Mumbai

Last month, in a similar deal in South Mumbai, Mumbai’s iconic Laxmi Nivas bungalow located on the Nepean Sea Road, which served as a secret hideout for freedom fighters during the Quit India Movement in the 1940s, was sold for ₹276 crore, property documents showed.

According to the documents, the Kapadia family that owned the legacy 19,891 sq ft bungalow has sold the property to Vageshwari Properties Private Limited, one of whose directors is Elina Nikhil Meswani, wife of Nikhil R Meswani, executive director on the board of Reliance Industries Limited.