A real estate investment fund has acquired over 37 ready-to-move-in luxury apartments in a super-premium residential project in Mumbai’s Worli area for more than ?500 crore. The deal marks one of the first inventory buyout transactions by an institutional investor in the country’s growing luxury housing market.

The fund acquired the apartments from a non-banking financial institution that had received the inventory as part of a debt settlement with the project’s developer. The transaction includes apartments in two towers that have already received occupation certificates from the Mumbai civic authority. The portfolio consists of three- and four-bedroom residences with carpet areas ranging from 2,000 sq ft to 3,800 sq ft, spanning a total of approximately 80,000 sq ft.

The fund plans targeted refurbishments to bring the apartments up to current luxury standards before marketing them for sale, with around ?50 crore earmarked for upgrades prior to sales.

Property consultants noted that the deal is based on the opportunity to unlock value due to the project’s occupation certificate status, ready inventory, and discounted pricing. The fund may refurbish interiors, enhance fit-outs, and adopt a phased sale strategy to maximize returns.

South and central Mumbai, home to some of India’s most expensive residences, have been at the forefront of this luxury housing boom, attracting high-value transactions involving prominent industrialists, corporate leaders, celebrities, and sports personalities in recent years.

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