Adani Bets Big on Billionaire Row: Carmichael Land Secured

The Adani Group has acquired a prime 1.1-acre land parcel on Carmichael Road in South Mumbai for over Rs 170 crore, through its subsidiary Mah-Hill Properties. The deal, finalized on 27th March 2025, includes the purchase of a 2,760 sq. ft. residential cottage currently standing on the site.

Carmichael Road, situated in the prestigious Malabar Hill area, is known for its luxurious residences, limited land availability, and its proximity to Mumbai's key business districts. The area remains a sought-after address for ultra-high-net-worth individuals and prominent business families.

The 4,500 sq. m. freehold plot was sold by Behram Nowrosji Gamadia, whose family had owned it since the early 20th century. The land was initially earmarked for a children's park under the 1991 Development Plan but was reclassified for residential use in the 2034 Development Plan by the Brihanmumbai Municipal Corporation (BMC).

Given its exclusive location, the plot is expected to be the site of a luxury residential or mixed-use development. The property is situated near the Municipal Commissioner’s bungalow, further underscoring the prestige and exclusivity of the area.

News by Rahul Yelligetti.