Mumbai Real Estate | June 2026
₹27 lakh every month. Radhakishan Damani’s Latest Mumbai Property Deal
Take a moment to process that number.
That’s over ₹3.24 crore a year paid purely as rent for a single apartment in Mumbai.
Over the years, I’ve noticed that most investors spend countless hours discussing stock market returns, mutual funds, SIPs, and interest rates. Yet very few pay attention to how India’s wealthiest individuals actually build and preserve wealth through real estate.
A recent deal involving billionaire investor Radhakishan Damani offers an interesting glimpse into that world.
A company linked to the DMart founder has leased out a luxury apartment in Mumbai’s Worli area to the Sanjay Ghodawat Group for a staggering ₹27 lakh per month. While it may seem like just another high-profile property transaction, it reveals some important lessons about wealth creation, premium real estate, and investment strategy.
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The Story Behind the Radhakishan Damani’s Latest Mumbai Property Deal
Most Indians know Radhakishan Damani as the founder of DMart and one of the country’s most successful investors. What many people don’t realize is that he has also built significant exposure to premium real estate over the years.
Back in February 2023, entities linked to Damani and his associates purchased 28 luxury apartments in Mumbai’s prestigious Three Sixty West project for approximately ₹1,238 crore.
Now, one of those apartments has been leased to the Sanjay Ghodawat Group at a monthly rent of ₹27 lakh.
This is exactly how large investors think. They don’t simply buy assets and hope prices rise. They focus on acquiring quality assets that can generate steady income while appreciating in value over time.
Why Three Sixty West Is So Special
The apartment involved in this deal is located inside Three Sixty West, one of Mumbai’s most prestigious luxury developments.
Situated on Annie Besant Road in Worli, the project has become a symbol of ultra-premium living. The development features spectacular sea views, luxury amenities, and proximity to Mumbai’s business districts.
The property has attracted several high-profile residents and investors over the years, making it one of the most sought-after addresses in the country.
For India’s wealthy families and business leaders, owning property here is not just about lifestyle. It is also about owning a scarce asset in one of the most valuable micro-markets in India.
Why Would a Company Pay ₹27 Lakh Every Month in Rent?
At first glance, paying ₹27 lakh a month sounds excessive.
But when you look at it from a business perspective, it makes sense.
The Sanjay Ghodawat Group is a diversified business conglomerate with interests across aviation, FMCG, energy, education, and real estate. For a company of this scale, maintaining a premium corporate residence in Mumbai can be more practical than purchasing a luxury apartment outright.
Buying a similar property could require an investment of ₹50 crore to ₹80 crore or even more. Leasing allows the company to preserve capital and deploy it into business expansion instead.
Many successful businesses follow this approach. Rather than locking up large amounts of capital in real estate, they prefer to keep funds available for growth opportunities.
What This Says About Mumbai’s Luxury Property Market after Radhakishan Damani’s Latest Mumbai Property Deal
This deal of Radhakishan Damani’s Latest Mumbai Property Deal is about much more than a single apartment.
It highlights the continued strength of Mumbai’s ultra-luxury housing segment.
Since 2022, premium residential properties in areas such as Worli have witnessed strong demand from high-net-worth individuals, business owners, and institutional investors.
What’s particularly remarkable is the appreciation seen in some of these assets.
Industry estimates suggest that apartments acquired by Damani-linked entities in 2023 at approximately ₹65,000–75,000 per square foot are now commanding prices close to ₹1.25–1.50 lakh per square foot in the resale market.
That represents substantial appreciation within a relatively short period.
At the same time, owners are earning significant rental income from these properties, creating a combination of capital growth and cash flow.
The Lesson for Ordinary Investors
Now comes the important question.
Does this mean every investor should rush out and buy real estate?
Not necessarily.
Most retail investors cannot replicate deals happening in Mumbai’s ultra-luxury market. The capital requirements are simply too high.
Instead, the real lesson lies in understanding the principle behind the investment.
Successful investors focus on assets that generate income and appreciate over time.
For most individuals, listed REITs (Real Estate Investment Trusts) can provide exposure to high-quality real estate without requiring crores of rupees.
REITs allow investors to participate in rental income generated by commercial properties while investing much smaller amounts.
This makes them a practical alternative for people who want real estate exposure without dealing with tenants, maintenance issues, registration costs, or liquidity concerns.
A Real-Life Example
A few years ago, one of my clients wanted to invest ₹30 lakh in a residential apartment purely for rental income.
After evaluating the numbers, we discovered that the property would likely generate only ₹12,000–15,000 per month in rent. Once maintenance charges, taxes, and vacancy periods were factored in, the effective yield looked far less attractive.
Instead, we structured a portfolio using debt-oriented investments along with REIT exposure.
The outcome was better liquidity, competitive returns, and significantly fewer operational headaches.
This doesn’t mean property is a bad investment. It simply means investors should evaluate opportunities based on numbers rather than emotions.
The Risks Investors Should Remember
While luxury real estate often grabs headlines, it comes with its own challenges.
Large-ticket properties can be difficult to sell quickly during market downturns. Rental yields in luxury segments are often lower than many people expect. Maintenance costs can be substantial, and vacancies can impact cash flow.
Even REITs, despite being more accessible, are subject to market fluctuations and interest-rate risks.
Every investment option comes with trade-offs, which is why diversification remains important.
Final Thoughts
The ₹27 lakh monthly rental deal involving a Damani-linked firm and the Sanjay Ghodawat Group is more than just a headline-grabbing transaction.
It offers a fascinating look at how India’s wealthiest investors approach real estate.
They focus on premium assets, think long term, and create multiple sources of return through both appreciation and rental income.
For everyday investors, the takeaway isn’t to buy a luxury apartment in Worli.
The takeaway is to understand the principles behind successful investing: acquire quality assets, focus on cash flow, stay patient, and let compounding do the heavy lifting.
That’s a lesson that applies whether you’re investing ₹10,000 a month through an SIP or ₹1,238 crore in Mumbai real estate.