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Deep Financial Consultants Director Acquires Another apartment in Oberoi Three Sixty West by Oberoi Realty
Mumbai: A prominent stock market investor and director of Deep Financial Consultants has purchased a luxury sea-view apartment at Oberoi Three Sixty West, Worli, for over Rs 106 crore. Spanning 7,139 sq. ft., the apartment is located on the 60th floor (44th habitable floor) of this super-premium residential tower on Dr. Annie Besant Road.
This high-profile transaction values the apartment at approximately Rs 1.50 lakh per sq. ft., making it one of the most expensive residential deals in India. The purchase included a stamp duty payment of Rs 3.97 crore, reflecting updated government regulations for transactions within three years of prior registration.
Interestingly, the director’s spouse, also a director of Deep Financial Consultants, recently acquired a 59th-floor apartment in the same tower for Rs 105 crore. The couple’s investments underscore the increasing demand for premium properties in Mumbai’s most sought-after locations. These purchases reflect the growing trend of high-net-worth individuals leveraging strategic investments in real estate to diversify their portfolios and secure premium assets.
The director’s financial firm, Deep Financial Consultants, has been known for its strategic investments in stock markets, yielding substantial returns over the years. These investments have provided the liquidity required for such significant real estate acquisitions, demonstrating the firm’s ability to balance long-term growth with immediate opportunities.
The year 2024 has witnessed record-breaking sales in India’s top property markets, with Mumbai leading the way. South and Central Mumbai remain hotspots for high-value real estate transactions, attracting industrialists, corporate leaders, and celebrities. The increasing preference for ready-to-move-in properties in the uber-luxury segment has further fueled this surge in demand.
Oberoi Three Sixty West continues to set benchmarks for luxury living with its expansive residences, prime location, and panoramic sea views, reinforcing Worli’s status as a hub for elite living. As Sandeep Sadh aptly puts it:"For HNIs, Oberoi Three Sixty West has transcended being just a luxury address—it has become a symbol of power and wealth, embodying the pinnacle of success and prestige in Mumbai’s real estate landscape."
These transactions highlight the significance of real estate as a key asset class for wealth creation and lifestyle enhancement among India’s affluent.
Oberoi Realty has announced a groundbreaking project to transform an 81.05-acre expanse of land in the picturesque village of Tekali, Alibaug. With plans to develop a mix of luxury residential villas and a high-end resort, this ambitious project is set to redefine the real estate landscape in the region.
Luxury Resort Development:
Premium Residential Villas:
Oberoi Realty’s arrangement with landowners involves a revenue and area-sharing model, ensuring a win-win partnership that underpins the project’s success.
Alibaug’s rapid evolution into a luxury real estate hub has made it a prime destination for developers like Oberoi Realty. Alibaug is seen as a luxury destination and is like 30 min away on a boat from Mumbai. Lots of celebrities, industrialists and HNI's have villas there and its fast becoming a go to location for the Rich and Famous.
Here's why this coastal retreat is attracting top-tier projects and this blends in with Oberoi Realty Uber Luxury plans and consumers:
With this landmark project, Oberoi Realty continues to demonstrate its commitment to redefining luxury real estate in India. By introducing branded villas and a high-end resort, the company aims to meet the aspirations of modern, discerning buyers while enhancing Alibaug’s reputation as a prime destination for luxury living.
Often referred to as the "Hamptons of Mumbai," Alibaug’s appeal lies in its natural beauty, strategic location, and emerging infrastructure. This iconic Oberoi Realty development is poised to solidify the town’s reputation as a luxury real estate and tourism hotspot, attracting high-net-worth individuals and investors alike.
Stay tuned for more updates as this landmark project takes shape.
Anand Pandit’s Lotus Developers Gears Up for IPO in Mumbai Real Estate
Anand Pandit’s Lotus Developers Ltd, a renowned name in Mumbai’s premium real estate sector, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company, which aims to raise approximately Rs 800-1000 crores through its IPO, continues to make headlines with its impressive portfolio of luxury residential and commercial projects across Mumbai, including several in the affluent Juhu area.
A Legacy of Excellence and Strong ConnectionsFounded in 2003 by Anand Pandit, Lotus Developers has built a formidable reputation in Mumbai’s ultra-luxury residential and commercial segments. Known for their specialization in boutique buildings and the ability to deliver projects in record time, the company has consistently exceeded market expectations without compromising on quality. Their strong ties to the real estate market and Bollywood have further bolstered their influence and appeal.
The company operates through two key models: redevelopment projects involving joint agreements with housing societies and office unit holders, and new developments through land acquisition. Over the years, it has expanded its reach from Mumbai’s Western Suburbs to high-value micro-markets like Bandra, Nepean Sea Road, Prabhadevi, Ghatkopar, and Juhu.
Iconic Projects Across Mumbai
Juhu Projects:
Commercial Projects:
Sandeep Sadh’s Perspective on Lotus Developers
Sandeep Sadh, a leading real estate expert remarked, "Lotus Developers has set a benchmark in Mumbai’s real estate market with their ability to deliver top-notch projects on time. Their commercial developments like Lotus Corporate Park and Lotus Signature have provided excellent returns, while residential projects in Juhu and beyond continue to redefine luxury living. Anand Pandit’s vision has truly transformed the way premium properties are developed in Mumbai."
Well-Connected to Real Estate and Film IndustryLotus Developers’ unique position is strengthened by their deep ties to the real estate market and the Bollywood fraternity. This synergy has not only brought them high-profile investors but also established their projects as aspirational addresses in Mumbai’s property landscape.
As Lotus Developers gears up for their IPO, their impressive track record of delivering quality projects across Mumbai makes them a trusted name in the market. Their ability to create value for investors and homeowners alike ensures they remain at the forefront of Mumbai’s thriving real estate industry.
What is FSI?FSI (Floor Space Index) is a critical parameter in real estate development, representing the ratio of the total built-up area to the size of the plot. For example, an FSI of 2 means that the total built-up area can be twice the size of the plot. FSI determines how much construction is permissible on a piece of land and is governed by local development control regulations.
Importance of FSIFSI is a cornerstone of urban planning, influencing land utilization, skyline aesthetics, population density, and the infrastructure load of a city. For developers, it directly impacts project feasibility and profitability. Higher FSI allows more construction, enabling higher revenue potential, but it also requires robust infrastructure support to handle increased population density.
Cost of FSI in ProjectsFSI constitutes a significant portion of real estate project costs. Developers pay premium charges to local authorities for acquiring additional FSI beyond the base limit, especially in metropolitan areas like Mumbai. These costs vary based on location, plot size, and prevailing market rates. Adding 18% GST to these charges, as proposed, would inflate project costs and housing prices significantly.
How is FSI Calculated?FSI is calculated using the formula:FSI = Total Built-Up Area / Plot AreaFor instance, if a plot is 1,000 sq. ft. with an allowable FSI of 2, the developer can construct 2,000 sq. ft. of built-up area. Local regulations, zoning laws, and the type of development (residential, commercial, or mixed-use) govern FSI limits.
Relevance of FSI in Mumbai's Property MarketMumbai, being one of the most densely populated cities in the world, has stringent FSI regulations to balance growth and infrastructure. Developers frequently purchase additional FSI to maximize land usage, especially in prime locations. The cost and availability of FSI significantly influence property prices, affordability, and urban development in the city.
Mumbai's real estate market is already burdened by high land costs and limited supply. Any increase in FSI-related expenses, like the proposed GST on FSI and additional FSI premiums, will directly impact the affordability of housing and the financial viability of projects.
Developers' Concerns on FSI and GSTThe proposal to impose an 18% GST on FSI and additional FSI charges has drawn criticism from the real estate sector. CREDAI (Confederation of Real Estate Developers' Associations of India) has raised the following concerns:
Increased Housing Costs:Developers estimate that this move could raise housing prices by 7-10%, adversely affecting affordability and demand, particularly in the affordable housing segment.
Economic Viability:Additional taxation would increase the financial burden on developers, potentially stalling projects and jeopardizing the "Housing for All" initiative.
Double Taxation and ITC Issues:Developers are already excluded from claiming Input Tax Credit (ITC) on GST for other project-related expenses. Adding GST on FSI charges would lead to double taxation.
Legal Exemption Claims:CREDAI argues that FSI charges fall under functions of urban planning outlined in Article 243W of the Constitution, which exempts such services from GST.
Retrospective Tax Concerns:Imposing GST retrospectively could destabilize project finances, delay possession timelines, and discourage investment.
Impact on the Mumbai Property MarketIn a high-demand market like Mumbai, additional costs on FSI could result in:
CREDAI's Proposal to the GovernmentCREDAI has urged the government to reconsider and exempt FSI and additional FSI charges from GST. They argue that keeping FSI charges outside the scope of taxability is essential to maintain housing affordability and meet urban development goals. Failure to do so may lead to adverse ripple effects on the housing sector and the broader economy.
The decision of the 55th GST Council meeting will be pivotal in shaping the future of real estate development, especially in markets like Mumbai where FSI dynamics are central to the industry.
Geographic Information System (GIS) mapping is a groundbreaking technology revolutionizing property valuations worldwide. By integrating GIS mapping into real estate systems, governments and institutions ensure more accurate property evaluations and transparent transaction processes. This shift benefits property buyers, sellers, and regulators alike. Maharashtra, a frontrunner in India, is setting a new standard with its implementation of GIS mapping for property valuation.
GIS mapping uses geospatial data, satellite imagery, and infrastructure details to create comprehensive maps of land parcels. By analyzing geographic coordinates, boundaries, and urban influence areas, GIS provides a scientific and objective method to determine property values. This technology eliminates reliance on subjective estimates and market anecdotes.
Singapore, known for its highly efficient urban planning, utilizes GIS mapping to manage property valuations and urban development. Through advanced geospatial technology, authorities monitor land usage, infrastructure, and population density to ensure accurate valuation of residential and commercial properties. This system supports transparent transactions and aids long-term urban planning.
Maharashtra is leveraging GIS mapping to redefine property valuation methods, especially through the Maharashtra Remote Sensing Application Centre (MRSAC). The initiative has completed mapping rural areas and 50% of urban and urban-influence regions, bringing clarity and accuracy to Ready Reckoner (RR) rates—minimum property values set for transactions.
How GIS Mapping Impacts Maharashtra
In Maharashtra, GIS mapping is particularly impactful in areas witnessing rapid urbanization or mega infrastructure projects. For example, urban influence zones near municipal corporations are now undergoing accurate assessments, helping developers, buyers, and policymakers. This ensures that RR rates reflect the true market dynamics, aiding long-term planning and equitable transactions.
As Maharashtra leads the way in India, GIS mapping is transforming property valuation systems worldwide. By integrating advanced geospatial technology, the state sets a benchmark for fairness, transparency, and efficiency. GIS ensures a data-driven approach, aligning valuations with current market realities while empowering all stakeholders in the real estate ecosystem.
This technological advancement promises a more reliable and equitable property market in Maharashtra and beyond, fostering trust and efficiency across the global real estate sector.
The recent approval by the National Company Law Tribunal (NCLT) for the demerger of Raymond Ltd's real estate business into a standalone entity, Raymond Realty Limited, marks a significant milestone in India's real estate sector. This strategic move not only unlocks the growth potential of Raymond Realty but also paves the way for enhanced operational efficiency and focused investments. Here's a deep dive into the implications of this transformative step.
Founded on the expansive 100-acre land parcel in Thane, Raymond Realty began as an extension of Raymond Ltd's diversified business operations. Leveraging the brand's legacy of trust and quality, the real estate division embarked on projects aimed at redefining urban living. Key developments include premium residential complexes that combine modern design with sustainability, catering to the rising demand for luxury housing in the Mumbai Metropolitan Region (MMR).
Shareholders of Raymond Ltd stand to gain one share of Raymond Realty for every share held, ensuring direct exposure to the growing real estate market. This strategic allocation enhances investor confidence, as it allows participation in a business segment with immense growth potential.
In FY 2023-24, Raymond Realty reported an impressive revenue of ?1,593 crore, reflecting a robust 43% year-on-year growth. With an EBITDA of ?370 crore, the division has showcased its financial viability, reinforcing its position as a key player in the real estate market.
Raymond Realty's prime asset is its 100-acre land bank in Thane. With 40 acres currently under development, the projects have a potential revenue generation of ?25,000 crore. This includes premium residential complexes equipped with state-of-the-art amenities and sustainable infrastructure.
The company has also entered into four JDAs across Bandra, Mahim, and Sion in MMR. These projects, with an estimated revenue potential of ?7,000 crore, highlight Raymond Realty's strategic expansion into high-demand areas.
Combining the Thane projects and JDAs, Raymond Realty's ventures represent a total revenue potential of ?32,000 crore. This demonstrates the company’s ability to scale operations and cater to diverse market segments.
The separation allows Raymond Realty to operate as an independent entity with a dedicated management team. This ensures sharper focus, quicker decision-making, and the ability to adapt to market dynamics.
By listing Raymond Realty as a standalone entity on stock exchanges, the company opens doors for targeted investments from institutional and retail investors who are keen on tapping into the booming real estate market.
The demerger aligns with Raymond Group's broader strategy of streamlining operations across its three growth pillars: Lifestyle, Real Estate, and Engineering. This clarity in focus is expected to enhance operational efficiency and drive growth.
Sandeep Sadh, a prominent expert in the Mumbai real estate market and CEO of Mumbai Property Exchange, commented on the development:"The demerger of Raymond Realty is a bold yet strategic move that reflects the maturing nature of India’s real estate market. By creating a standalone entity, Raymond Realty has positioned itself to leverage its vast land bank and capitalize on the growing demand for quality housing in key metropolitan areas. Investors will find this new entity particularly attractive due to its focused management and potential for high returns. Thane’s transformation as a premium residential hub is a testament to Raymond Realty’s vision and execution capabilities."
The standalone listing of Raymond Realty is anticipated to unlock immense value for stakeholders. With projects catering to mid-income and premium housing segments, the company is well-positioned to capitalize on the urbanization wave in India. Additionally, the strategic location of its developments in Thane and MMR provides a competitive edge, ensuring high demand and strong sales.
As the company progresses, its commitment to innovation, sustainability, and quality will likely solidify its reputation as a leader in the real estate sector. With an ambitious pipeline of projects and a revenue potential of ?32,000 crore, Raymond Realty is set to be a game-changer in India's real estate landscape.
The demerger of Raymond Realty is a testament to the evolving dynamics of India's real estate market. By carving out its real estate division into a standalone entity, Raymond Group has set a benchmark for strategic growth and investor value creation. As Raymond Realty embarks on this new chapter, it is poised to not only redefine urban living but also drive the next wave of innovation and growth in the real estate sector.
This is an exciting time for investors and stakeholders, as Raymond Realty gears up to deliver on its promises and reshape the future of real estate in India.
To excel as a real estate agent or advisor, adopting a growth-oriented and client-focused mindset is key. Here are practical steps to help:
Prioritize understanding and addressing client needs.
Build trust by being transparent and providing tailored solutions.
Stay updated on market trends and technologies.
Embrace challenges as learning opportunities.
Seek feedback from clients and peers to improve.
Position yourself as a consultant, not just a salesperson.
Share valuable insights to empower client decisions.
Deliver more than expected to build long-term relationships.
Use tools like virtual tours, CRM software, and social media to enhance your services.
Stay ahead with digital marketing and data analytics.
Reframe setbacks as opportunities to grow.
Maintain motivation by celebrating small wins.
Practice gratitude to keep a positive outlook.
Focus on a niche like luxury homes or commercial spaces.
Develop your personal brand through content creation and networking.
Build relationships that lead to repeat business and referrals.
Set measurable goals for sustained success.
Attend industry events and workshops to expand your knowledge.
Manage time effectively to balance work and life.
By shifting your mindset toward growth, service, and adaptability, you can achieve sustained success and establish yourself as a trusted expert in the real estate industry.
Modern Interiors: The Key to Better Pricing, Resale, and Long-Term Investments
Mumbai’s real estate market, much like Dubai's, is undergoing a transformative shift. With increasing awareness among homeowners and developers about the importance of functional and aesthetic interiors, the focus has moved beyond just location and square footage. Buyers in Mumbai are now looking for homes that combine smart layouts, modern amenities, and thoughtful design to meet their needs and aspirations.
This trend has been especially evident among premium developers like Oberoi Realty and Lodha Group, who have set new benchmarks in planning and design. Oberoi Realty, known for its meticulous approach to urban living, ensures that every square foot of their properties is optimized for functionality and comfort. Similarly, Lodha Group emphasizes cutting-edge designs, luxurious interiors, and a holistic approach to lifestyle planning, making their homes highly sought after.
The modern Mumbai homeowner is no longer just buying a property; they are investing in a lifestyle. Whether it’s a spacious 4 BHK in Worli or a compact 2 BHK in Powai, interiors are playing a pivotal role in decision-making. Developers and homeowners alike have recognized that well-planned interiors can:
Developers in Mumbai are increasingly aligning their projects with customer expectations:
According to experts, interior design upgrades can boost a property's value by 10-15%. Features like modular kitchens, sustainable materials, and smart home integrations are no longer optional—they are expected. This trend is evident in the increasing demand for:
With the city’s real estate prices continuing to rise, thoughtful planning and modern interiors have become key differentiators in an increasingly competitive market. Developers who prioritize design are seeing faster sales, higher customer satisfaction, and better resale values. Homeowners, too, are recognizing the long-term benefits of upgrading their properties.
As the demand for well-designed homes grows, developers and designers in Mumbai are adapting to ensure they deliver spaces that are not just homes but investments in a better lifestyle.
Mumbai’s real estate market is moving towards a future where modern interiors and thoughtful design are not just luxuries but necessities. Developers like Oberoi Realty and Lodha Group are leading the charge, setting a gold standard for others to follow.
For homeowners, investing in interiors today means enjoying better returns tomorrow—whether through increased property value, faster leasing, or simply the joy of living in a home that meets all their needs.
Property Owned by a Company:The property is owned by a special purpose vehicle (SPV) or a company formed solely for the purpose of holding the property. The company's only significant asset is the property.
Buyer Acquires the Company Shares:Instead of purchasing the property outright, the buyer purchases the shares of the company. This effectively transfers ownership of the property since the company remains the legal owner.
Key Steps in a Company Takeover:
Due Diligence:The buyer conducts thorough due diligence to assess the company’s financials, legal status, and liabilities. This includes verifying that the company has no debts or encumbrances beyond the property itself.
Share Purchase Agreement (SPA):A legal agreement is drafted for the purchase of the company’s shares. This document outlines the terms and conditions of the sale.
Regulatory Compliance:The buyer ensures that all legal and tax-related obligations are fulfilled for the smooth transfer of ownership.
Transfer of Ownership:Once the shares are purchased, the buyer becomes the owner of the company and, indirectly, the property.
Advantages of Company Takeover:
Savings on Stamp Duty and Registration Costs:Since the property’s legal ownership doesn’t change (it remains under the company), the transaction may not attract stamp duty or registration fees, resulting in substantial savings.
Simplified Transaction:The sale is executed as a transfer of company shares, often making it quicker and more efficient compared to a traditional property transaction.
Tax Benefits:Depending on the jurisdiction, the buyer may benefit from lower tax liabilities by acquiring the company rather than the property.
Challenges to Consider:
By acquiring the company, the buyer gets control of the property while potentially avoiding high transaction costs and simplifying the process. However, expert legal and financial advice is crucial to ensure the deal is beneficial and risk-free.
Declaring Foreign Assets in Tax Returns: A Guide for Indian Taxpayers
Who Must Disclose Foreign Assets?Indian taxpayers who are Resident and Ordinarily Resident (ROR) are legally obligated to disclose all foreign assets and income when filing their Income Tax Return (ITR). Failure to comply can result in hefty penalties and legal consequences under the Black Money Act, 2015.
Taxpayers must declare:
Foreign Assets:
Foreign Source Income:
Under the Black Money Act, 2015, failing to disclose foreign income or assets can result in:
ConclusionThe Central Board of Direct Taxes (CBDT) emphasizes accurate reporting of foreign assets in the ITR. Proper disclosures safeguard taxpayers from penalties and ensure compliance with Indian tax laws.
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When buying a high-rise property in Mumbai, ensuring that your scenic view doesn’t go to waste due to future developments can be challenging. Here’s how buyers can take an informed approach to avoid view blockage issues:
Taking a proactive approach by studying zoning laws, FSI utilization, and the developer's assurances can significantly mitigate risks of view blockage. Work with trusted real estate consultants, verify regulatory restrictions, and favor properties with long-term view protection (like sea-facing flats or height-restricted zones). An informed purchase ensures that your premium investment for a view holds value for years to come.
Picture Courtesy: Priyanshu Dubey - Pixeldo
Picture for illustration purpose - How Minerva was built on SRA land and Bellissimo was made prior to that and then came Primero. So Belllissimo got sandwiched between the 2 towers.
Older buildings in South Mumbai that lack scope for redevelopment face a range of outcomes influenced by structural conditions, legal frameworks, and market demand. Here’s a detailed breakdown of possibilities:
For old buildings in South Mumbai that lack redevelopment scope:
Ultimately, a combination of government policies, cooperative efforts from owners, and market forces will decide their fate.
Picture Courtesy: Pranshu Dubey - Pixeldo
Maharashtra RERA Issues Notices to 11,000 Lapsed Housing Projects - 5230 Projects in MMR Default in Updating Projects on MahaRERA
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued show-cause notices to 11,000 lapsed housing projects across the state, targeting developers who failed to update project status or submit the required Occupation Certificate (OC) after the completion date.
Region-Wise Breakdown:
Actions Taken by MahaRERA:
Developers must submit Form 4 along with the OC or seek a deadline extension. Failure to comply within 30 days may result in punitive actions under the Real Estate (Regulation and Development) Act, 2016.
While property registrations in Mumbai have been witnessing steady month-on-month growth, signaling renewed buyer confidence, non-compliance by developers casts a negative impression on both homebuyers and the regulator. The rise in registrations underscores growing trust in the real estate sector due to RERA’s oversight, yet developers who fail to update project details are sending the wrong signal.
Sandeep Sadh, Founder - Mumbai Property Exchange, stated:"The growing trust among homebuyers due to RERA regulations has helped stabilize the Mumbai real estate market. However, developers who delay compliance or fail to update project information are risking their credibility and the overall confidence in the market. Embracing transparency under RERA will only benefit both buyers and developers in the long run."
To further streamline the industry and ensure accountability, organizations like NAREDCO and CREDAI should play a pivotal role in influencing developers to become active members. By encouraging compliance with RERA regulations and promoting transparency, these associations can hold developers accountable while fostering trust among homebuyers.
Developers should welcome RERA, embrace its rules, and operate transparently rather than flouting regulations. Compliance with these guidelines, coupled with accountability driven by industry bodies like NAREDCO and CREDAI, will not only boost buyer confidence but also contribute to the sustainable growth of the real estate sector in Mumbai and across Maharashtra.
Oberoi Realty is making waves in the luxury and ultra-luxury real estate segments in Mumbai, showcasing its robust performance and growth potential. According to a report by Axis Securities, the company’s consistent pre-sales growth is attributed to its strong brand positioning and the increasing demand for high-end residential properties.
Luxury Segment Dominance: Oberoi Realty continues to capture market share in Mumbai's luxury and ultra-luxury housing markets, leveraging its reputation for quality and exclusivity.
Pokhran Road Project Success: The company has experienced significant traction for its project on Pokhran Road, indicating strong consumer confidence and demand.
Strategic Expansion Plans:
Stock Performance: The brokerage has initiated coverage with a buy rating and a target price of INR2,560. Shares have already risen by 6% to INR 2,281 reflecting investor optimism.
Oberoi Realty's strategic focus on high-end real estate, coupled with planned expansions into lucrative markets, positions it as a formidable player in India’s luxury property market. The company’s ability to align its offerings with market demand underscores its potential for sustained growth.
The redevelopment of Kamalistan Film Studio into Mumbai's largest commercial office park is a landmark development in the city's real estate and commercial infrastructure. Located on the Jogeshwari-Vikhroli Link Road (JVLR), this iconic 25-acre property will now host the Nexus Office Park, a world-class business destination designed to accommodate approximately 7 million sq. ft of commercial space.
The Nexus Office Park adds to the ongoing urban transformation along JVLR, boosting connectivity and commercial activity in the area. With its strategic location, robust infrastructure, and proximity to established hubs like Powai, the project will attract global corporations and investors, further solidifying Mumbai’s position as a premier business destination.