ADANI CARMICHAEL ROAD — New Project Coming Up in Malabar Hill, Mumbai

Adani Group Secures Prime Land on Carmichael Road

The Adani Group has purchased a 1.1-acre plot in the upscale Carmichael Road area of South Mumbai for over ₹170 crore. The deal, completed through its subsidiary Mah-Hill Properties on March 27, 2025, also included a stamp duty payment of ₹10.46 crore.

The acquired land, one of the few remaining freehold plots in the Malabar Hill area, currently houses a 2,760 sq ft residential cottage. The property was previously tied up in legal disputes, which have now been resolved through court-accepted consent terms.

Location and Market Context

Carmichael Road in Malabar Hill is home to influential business families and top corporate leaders, and is known for its heritage bungalows, breathtaking views of the Arabian Sea, and proximity to key financial districts. Malabar Hill lies in South Mumbai, close to Nariman Point, Marine Drive, and Churchgate, and is accessible to most of the major business hubs and cultural landmarks.

Notable places include Hanging Gardens, Walkeshwar Temple, Kamala Nehru Park, and Banganga Tank. The area features premium healthcare facilities like Breach Candy Hospital and elite schools like Cathedral & John Connon.

Significance of the Acquisition

With property prices among the highest in India, any development on this rare parcel is bound to attract attention from high-profile buyers and investors. Located in a highly sought-after area, the plot is one of the last few sizeable freehold properties available.

The acquisition reflects the Group's strategic interest in India's premium real estate landscape. Adani Realty is one of the leading developers in India and has 54 residential and commercial projects in its portfolio, out of which 11 projects are in Mumbai. The company operates across residential and commercial sectors in key cities including Mumbai, Pune, Ahmedabad, and Gurugram.

About the Property

The plot, spread across over 1.1 acres (48,491 sq ft), is poised to transform into one of Mumbai's most prestigious residential landmarks. The acquisition marks a significant entry for Adani Realty into South Mumbai's ultra-luxury segment, historically dominated by heritage developments and select boutique projects.