Sanjay Nayar Buys 90 Cr Luxury Apartment in South Mumbai

Sanjay Nayar purchases a ₹90 crore, 4,537 sq ft luxury apartment on Mumbai’s Carmichael Road, with the transaction valued at about ₹1.98 lakh per sq ft based on carpet area.

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 ₹90 crore, adding to a series of high-value residential transactions in the city’s premium property market. 

The apartment, located on the first floor of Kamal Mahal, within the Anand Kamal Co-operative Housing Society, has a carpet area of 4,537.29 sq ft. The transaction translates to approximately ₹1.98 lakh per sq ft based on the carpet area, placing the deal among the notable high-value residential transactions in Mumbai.

Also Read: Choosing the Right Cookware: Expert Tips and Insights

The registered transaction also includes an open garage measuring 225.89 sq ft. Including the garage, the total registered area associated with the property stands at 5,448.9 sq ft, according to registration documents accessed through real estate data platform Zapkey.

Kamal Mahal, previously known as Sethna House, was developed more than seven decades ago and is among the earlier residential buildings established on Carmichael Road. The seven-storey building and the adjacent Anand building are situated across a two-acre property that includes a landscaped garden.

Nayar’s purchase comes amid continued activity in Mumbai’s luxury residential segment, particularly across established neighbourhoods in South and Central Mumbai. Areas such as Carmichael Road, Malabar Hill, Altamount Road, Cumballa Hill, Worli, Prabhadevi, Bandra and Juhu have recorded high-value transactions involving large-format homes.

According to real estate data cited by Mint, an apartment in the same Kamal Mahal building was sold for ₹33 crore in 2014, at about ₹1 lakh per sq ft. The latest transaction reflects the higher prices being recorded for large residences in established luxury neighbourhoods.

Sandeep Reddy, co-founder of Zapkey, said South Mumbai's ultra-luxury residential market is seeing demand across both contemporary redevelopments and older, low-density properties. He noted that large carpet areas, privacy and established addresses continue to feature in high-value transactions.

Also Read: Beyond the Brochure: What True Quality Means in Your Home

Nayar founded Sorin Investment Fund in December 2022, an investment platform focused on growth and private equity investments. He previously served as CEO of KKR India and is also a board member of FSN E-Commerce Ventures, the parent company of Nykaa.