Essar Steel buys Rs 42 cr luxury apartment in Mumbai’s Samudra Mahal

29 Dec 2021 CW Team

Essar Steel Metal Trading Limited of the Essar Group has bought a sea-facing luxury duplex apartment at Samudra Mahal in Mumbai for Rs 42 crore.

The deal values the luxury apartment at over Rs 1.44 lakh per sq ft, which is the most expensive apartment transaction in India. It covers a 3,638 sq ft carpet area on the 21st and 22nd floors of the sea-facing building on Dr Annie Besant Road. The transaction for this property was registered on 8 December.

The luxury duplex apartment is the most expensive residential property in India. It is home to the Scindia family, Chairman of Vedanta, Anil Agarwal, Co-founder of Infosys, NR Narayana Murthy and Nandan Nilekani, Founder of Xander Group and many other leaders.

The stamp duty reduction in Mumbai ended on 31 March this year, which was a catalyst for Mumbai's residential market. With the most expensive real estate sector, Mumbai witnessed new benchmarks with property transactions since 2020.

Property registrations in India's commercial sector have witnessed a 10-year high in September, followed by low home loan rates and incentives offered by the real estate developers. The realty market has scaled a new 10-year high as it crossed its mark of 1 lakh registrations in one year.

Image Source

Also read: SKA Group will invest Rs 400 cr in luxury housing project in Noida

Real Estate

08 May 2026

Integrated Waterproofing Strategies

Waterproofing buildings used to be an annual pre-monsoon affair but the evolution of real-estate development has changed that approach. In new developments, developers are weaving waterproofing solutions into both the design and construction phases, an approach that Nikhil Madan, Managing Director, Mahima Group, says, “is all about ensuring lasting durability [of the building] and keeping lifecycle risks including water seepage and extensive maintenance to a minimum.”Watertight by designAluminium formwork systems aren’t commonly thought of as a waterproofing tool but at the Mahima Group,..

GROHE Showcases Water-Led Design At Milan

GROHE unveiled its GROHE SPA Aqua Sanctuary at Milan Design Week 2026, transforming Piccolo Teatro Studio Melato into an immersive showcase of water, design and wellbeing. Built on the philosophy of ‘Wellbeing Through Water’, the installation reimagined bathrooms as holistic spaces for relaxation, rejuvenation and self-care.The Aqua Sanctuary was presented through three interconnected sanctums. The first showcased the 3D-printed GROHE SPA AquaTree shower and faucet, highlighting bespoke innovation and biophilic design. The second featured the Atrio Private Collection and GROHE SPA x Buster..

Rahee Group Expands Rail Manufacturing Capacity

Rahee Group has outlined a multi-year investment roadmap to expand its operational footprint and strengthen manufacturing capabilities for India’s growing railway and urban transit sector. The Group is expanding in Odisha with a new Track Component Casting Unit, for which the groundbreaking ceremony was held on 8 April 2026 in the presence of Odisha Chief Minister Mohan Charan Majhi.The Group’s flagship EPC arm, Rahee Infratech Ltd, continues to focus on complex rail infrastructure projects, including track systems, bridges, viaducts and ballastless infrastructure. Its wholly owned subsidi..