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A premium bungalow property on Linking Road in Santacruz West has been sold for INR 164 crore, making it one of the significant high-value residential land deals in Mumbai's western suburbs. Known as Dwarka Bungalow, the plot spans about 13,629 sq ft and includes an old ground-plus-one structure. The buyer, ZYJ Estates LLP, is linked to luxury real estate developers, with the acquisition driven largely by redevelopment potential. Santacruz West continues to attract such transactions due to limited land availability, strong connectivity and proximity to Bandra Kurla Complex. The deal highlights sustained demand for prime redevelopment plots in established luxury residential micro-markets.
A premium bungalow property located on Linking Road in Santacruz West has recently been sold for INR 164 crore, marking one of the notable high-value residential land transactions in Mumbai's western suburbs. The property, popularly referred to as Dwarka Bungalow, consists of a ground-plus-one structure along with a garage and additional ancillary constructions. The total land area measures approximately 13,629 sq ft. Registration records indicate that stamp duty of around INR 9.84 crore was paid for the transaction. Advertisement
The buyer, ZYJ Estates LLP, is linked to developers active in Mumbai's luxury residential segment. Market participants indicate that the purchase has been driven mainly by the redevelopment potential of the plot rather than the existing structure. Given the size of the land parcel and its frontage on Linking Road, the site is considered suitable for a boutique luxury residential project, subject to regulatory approvals.
Santacruz West, along with neighbouring Bandra and Khar, has seen several similar transactions in recent years, where old bungalows and low-rise homes have been acquired for redevelopment. The area continues to attract developers due to its proximity to Bandra Kurla Complex, strong road connectivity, social infrastructure, and steady demand from high-net-worth homebuyers.
Industry experts point out that large, clear-title plots in established residential pockets have become increasingly scarce. As a result, such assets command premium valuations, especially when they offer redevelopment flexibility. Despite rising construction costs and tighter approvals, demand for luxury homes in well-located micro-markets has remained resilient.
At the same time, the steady conversion of bungalow plots into apartment developments reflects the changing character of Mumbai's residential landscape. While redevelopment supports urban renewal and higher land utilisation, it also reduces the already limited stock of standalone homes in the city.
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