Mumbai Real Estate: Goregaon Penthouse Sold for ₹55 Crore at ₹64,822 Per Sq Ft, Highest So Far in Western Suburbs
Mumbai, March 25: In one of the most significant luxury real estate transactions in Mumbai's western suburbs, a penthouse spread across three floors in Goregaon East has been sold for ₹55 crore, achieving a per square foot price of ₹64,822. The transaction represents one of the highest per sq ft rates recorded in the western suburbs to date.
The property, located in the Oberoi Elysian building on the Western Express Highway in Goregaon East, was developed by listed real estate developer Oberoi Realty. The buyer is Kapila Arora, promoter of a manufacturing company, according to property registration documents accessed by Zapkey.com.
Details of the Transaction
The penthouse spans an area of 8,570 sq ft and is situated on the 62nd, 63rd, and 64th floors of the building. The transaction was registered on February 18, 2026.
A stamp duty of ₹2.77 crore and a registration fee of ₹30,000 were paid for the transaction. The buyer availed a 1 per cent discount on stamp duty under the Maharashtra government's incentive scheme for women homebuyers. The penthouse was purchased along with six parking spaces.
Record-Breaking Valuation in Western Suburbs
Real estate experts note that this is one of the highest per sq ft rates ever recorded for a residential property transaction in the history of Mumbai's western suburbs.
Sandeep Reddy, co-founder of Zapkey.com, provided context on the pricing dynamics within the building. "This transaction of a penthouse being sold for ₹55 crore is the highest rate (₹64,834 per sq ft) in the particular building and also in the western suburbs at large," he said.
Reddy added that the majority of transactions in the area fall in the range of ₹42,000 to ₹46,000 per sq ft. However, for units on higher floors—specifically the 53rd floor and above—rates range between ₹54,000 and ₹57,000 per sq ft. The second-highest rate recorded in the building is ₹63,609 per sq ft, for a 3,042 sq ft apartment on the 58th floor that was sold for ₹19.3 crore.
Luxury Market Momentum in Mumbai's Suburbs
The Goregaon transaction adds to a growing list of high-value luxury deals in Mumbai's suburbs. In 2025, Bollywood actor Akshay Kumar sold two apartments in Borivali's Oberoi Sky City project for ₹7.10 crore, achieving a per sq ft price of over ₹52,000.
Other luxury buildings in the western suburbs, including Oberoi Sky City and Aquaria Grande in Borivali, have previously recorded transactions exceeding ₹50,000 per sq ft. The latest Goregaon deal, however, surpasses these benchmarks by a significant margin, underscoring the sustained demand for premium luxury residences in well-located, branded developments.
Developer and Buyer Response
An email query was sent to Oberoi Realty regarding the transaction, and the story will be updated if a response is received. Kapila Arora, the buyer, could not be reached for comment.
Implications for Mumbai's Luxury Real Estate
The transaction highlights the continued strength of Mumbai's luxury residential market, particularly in the western suburbs. High-net-worth individuals continue to show strong appetite for premium apartments offering expansive living spaces, elevated views, and the assurance of established developers.
The deal also reflects the growing preference for branded luxury developments with superior amenities and strategic locations along key arterial roads such as the Western Express Highway. As per sq ft rates continue to climb in select premium projects, the western suburbs are increasingly competing with traditional luxury strongholds like South Mumbai.