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According to the registration document, Agarwal Holdings acquired the 1,819.90 sq. m. land parcel in Mumbai’s Juhu area from Shapoorji Pallonji Gwalior Private Limited
Mumbai, India’s financial capital and home to billionaires and celebrities presents a challenging real estate market. Property rates are notoriously high, making it difficult to purchase land or build a house. While news of expensive apartments is commonplace, a recent land deal has made headlines.
According to Square Yards, Agarwal Holdings Private Limited has acquired a land parcel in Mumbai’s highly sought-after Juhu area for a staggering Rs 455 crore.
The plot was acquired from Shapoorji Pallonji Gwalior Private Limited, a part of Shapoorji Pallonji Group, a prominent business conglomerate.
According to Square Yards’ examination of the plot’s registration document, the elongated parcel encompasses approximately 1,819.90 square metres (19,589.22 square feet). The land transaction concluded with registration in November 2024.
The registration of this plot incurred a stamp duty of Rs 27.30 crore and a registration charge of Rs 30,000.
“Only a smaller portion of the Juhu land has been monetised with the larger parcel remaining under the group’s ownership,” Shapoorji Pallonji Group spokesperson said.
In September 2022, Agarwal Holdings acquired two land parcels in Juhu. The properties, measuring approximately one acre and three-quarters of an acre, totalled Rs 332.8 crore in value.
“Mumbai is the commercial capital of the country and a major business centre, so property prices are very high here,” Anand Moorthy, Co-founder and CBO – Capital Market & Services at Square Yards said.
Agarwal Holdings, established on December 11, 2020, is a private, non-government entity registered with the Registrar of Companies in Mumbai. The company specialises in activities auxiliary to financial intermediation, providing essential support to financial institutions such as banks, investment firms and insurance companies.
Bandra-Kurla Complex, along with several locations in South and West Mumbai, remains highly sought-after in the city’s property market. Juhu and Bandra, renowned for their seaside location and luxury residences, have consistently attracted significant investment. In recent years, numerous billionaire industrialists have made substantial apartment purchases in Mumbai.