December 13, 2025: Another vintage standalone bungalow in Mumbai’s prime Bandra–Khar–Santacruz belt is set to make way for redevelopment, underlining the sustained appetite for high-end residential projects in the western suburbs. A prominent property in Santacruz West, known as Dwarka Bungalow, has been sold for Rs 164 crore, adding to a growing list of legacy homes being acquired for redevelopment.
Located on the bustling Linking Road, the Santacruz West property occupies a plot measuring about 13,629 sq ft. The existing structure comprises a ground-plus-one-storey bungalow, a garage and ancillary sheds. Given its size and location, the plot offers strong redevelopment potential in one of Mumbai’s most land-scarce and sought-after micro-markets.
The property has been acquired by ZYJ Estates LLP, with documents accessed via Zapkey.com indicating that stamp duty of over Rs 9.84 crore was paid to register the transaction. The buyer could not be reached for comment at the time of reporting.
Real estate consultants say the transaction reflects a clear and continuing trend across the Bandra–Khar–Santacruz corridor, where old standalone bungalows on large plots are increasingly being replaced by premium apartment projects. With very limited vacant land available, such acquisitions have become critical for developers looking to add luxury housing stock in prime neighbourhoods.
Despite higher construction costs and regulatory complexities, developer interest in redevelopment remains strong. Industry experts attribute this to steady end-user demand for luxury homes, high absorption levels, and the long-term value of well-located assets. Linking Road, in particular, remains attractive due to its connectivity, commercial activity and proximity to key lifestyle and business hubs.
Market observers expect the Dwarka Bungalow site to eventually be redeveloped into a boutique luxury residential project, in line with similar transformations seen across the western suburbs. The Rs 164-crore deal reinforces confidence in Mumbai’s high-end real estate segment and signals that redevelopment-led growth in prime locations is likely to continue.
Source: The Economic Times
