Sanjay Nayar, founder of Sorin Investment Fund and former chief executive officer of KKR India, has purchased a luxury apartment on Carmichael Road in South Mumbai for Rs 90 crore, according to property registration records.
The transaction involves a 4,537.29 sq. ft. apartment on the first floor of Kamal Mahal, Anand Kamal Co-operative Housing Society Ltd, located on M L Dahanukar Marg, popularly known as Carmichael Road. Based on the carpet area, the deal works out to approximately Rs 1.98 lakh per sq ft.
Registered on Tuesday, the transaction also includes an open garage measuring 225.89 sq. ft. The total registered area, including the garage, stands at around 5,448.9 sq. ft, according to documents accessed through Zapkey.com.
Premium South Mumbai Address
The acquisition adds to a series of high-value residential transactions recorded in Mumbai’s established luxury neighbourhoods, where large-format homes and limited availability of premium properties continue to command substantial prices.
Kamal Mahal, previously known as Sethna House, was developed more than seven decades ago and was among the early buildings constructed along Carmichael Road. The seven-storey structure and the neighbouring Anand building are spread across a roughly two-acre plot with landscaped gardens.
Carmichael Road, along with nearby Malabar Hill, Cumballa Hill and Altamount Road, remains an established luxury residential cluster in South Mumbai. Apartments with large carpet areas in these locations frequently feature among the city’s highest-value property transactions.
Nayar’s Investment and Business Background
Nayar established Sorin Investment Fund in December 2022, an investment platform focused on growth and private equity opportunities. Before founding Sorin, he served as CEO of KKR India.
He is also a board member of FSN E-Commerce Ventures, the parent company of Nykaa.
An email query sent to Nayar regarding the property transaction remained unanswered until publication.
Mumbai’s Luxury Housing Market
The latest purchase comes amid continued activity in Mumbai’s upper-end residential property market. Besides South Mumbai, significant transactions involving large homes have also been reported in areas such as Worli, Prabhadevi, Bandra and Juhu.
The demand is being driven by a combination of entrepreneurs, senior corporate executives and high-net-worth investors seeking sizeable residences in established neighbourhoods.
The ₹90-crore Carmichael Road transaction also reflects the premium commanded by large apartments in locations where suitable inventory is relatively limited. With substantial carpet areas, established social infrastructure and proximity to key business districts, these neighbourhoods continue to attract buyers looking for high-value residential properties.
Nayar’s purchase places the apartment among the notable luxury residential transactions recorded in Mumbai, with the Rs1.98-lakh-per-sq-ft rate underlining the premium associated with large-format homes in the city’s established South Mumbai market.
Source: Economic Times
Pic Credit: Architectural Digest
