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Mumbai real estate: US-based NRI couple buys two sea-facing luxury apartments in Bandra for ₹56 crore
Mumbai’s top real estate deal: A US-based NRI couple has purchased two sea-facing luxury flats at ₹1.27 lakh per sq ft, among the highest rates in the area
A US-based NRI couple have bought two sea-facing apartments in Mumbai’s Bandra for over ₹56 crore, at a record ₹1.27 lakh per sq ft, according to property registration documents accessed by CRE Matrix.
The apartments, part of the Satguru Kismet project in Bandra West, are located close to Sachin Tendulkar’s bungalow, Carter Road, and the upcoming Bandra-Versova Sea Link connector.
The documents show that the two apartments measure 2,189 sq ft each and have a balcony deck area of around 120 sq ft each.
The two sea-facing apartments were sold at ₹1.27 lakh per sq ft, among the highest rates in Bandra West. Local brokers noted that in Pali Hill, Bandra West, some apartments have fetched over ₹1.40 lakh per sq ft.
As per property registration documents, the buyers made a down payment of nearly ₹10 crore to the developer, with the balance to be paid in phases.
The homebuyers paid a stamp duty of ₹1.68 crore each and a registration fee of ₹30,000 each to purchase the two apartments. According to the documents, the transaction was registered on September 3, 2025.
The documents show that Satguru Kismet is an under-construction project with a RERA deadline of December 2027.
An email query sent to Satguru Builders did not elicit a response. The story will be updated if a reply is received. The NRI couple has requested anonymity.
Taxation rules for NRIs purchasing property in India
According to tax experts, the Tax Deducted at Source (TDS) on NRI property transfers has been reduced. However, NRIs do not benefit from indexation when selling the property.
“The TDS range on NRI property transfers has been reduced from earlier highs of 20.8%–23.92% to 13%–17.81% (including surcharge and cess) post July 23, 2024. While this is a welcome relief, cash flows still remain under pressure unless a Lower Deduction Certificate is obtained. Unlike residents, NRIs cannot choose between with or without indexation, which increases their tax burden while selling property in India," said CA Aditya Zantye, Partner, AKORD & CO.
"At the same time, global shifts such as the proposed Trump ‘Big Beautiful Bill’ which aims to overhaul US taxation by lowering corporate rates, tweaking capital gains treatment, and introducing stricter anti-avoidance provisions could significantly affect cross-border investments and tax planning strategies for NRIs. In this environment, proactive planning becomes critical,” Zantye said.
Also Read: Planning to buy a 2 BHK apartment in Mumbai? Here’s what it will cost
All about Bandra real estate market
Geographically, Bandra is the centre and is famous for Bandra Kurla Complex (BKC), the country’s costliest commercial district, where several top domestic and international companies have their base.
Bandra is also synonymous with Bollywood, as this is the place where several actors and actresses have bought property.
Bollywood stars Salman Khan, Shahrukh Khan, Aamir Khan, Ranbir Kapoor, Alia Bhatt, Deepika Padukone, Tripti Dimri, and Sanjay Dutt, among several others, own a property or reside in Bandra. Bollywood legends Dilip Kumar and Rishi Kapoor also lived in the area.
Bandra is also home to several sea-facing and sea-view luxury apartments.
What’s the difference between a sea view and a sea-facing apartment?
Marine Drive in Mumbai is a prime example of sea-facing apartments.
In contrast, sea-view apartments, such as those near Churchgate station, are typically in taller buildings that offer expansive views of the sea, often surpassing the view from Marine Drive’s sea-facing residences.
