MUMBAI: A historic standalone bungalow in Mumbai’s Bandra-Khar-Santacruz area is set for redevelopment, with a prominent property in Santacruz West selling for ₹164 crore. This transaction adds to the growing trend of vintage homes in the western suburbs being acquired for high-end residential projects.
The property, known as Dwarka Bungalow on Linking Road, covers 13,629 sq ft and features a ground-plus-one structure alongside a garage and ancillary sheds. The buyer, ZYJ Estates LLP, has paid a stamp duty exceeding ₹9.84 crore for the transaction, which took place on November 17, according to documents accessed via Zapkey.com.
Such significant plots are becoming increasingly scarce in this area, where most old bungalows have already been transformed into upscale apartment buildings over the last decade, according to property consultants.
The buyer has not publicly commented on the deal.
This recent acquisition reflects the ongoing interest from developers in well-located bungalow sites that possess clear titles, ample frontage, and promising redevelopment potential. As land becomes scarce in these micro-markets, there is a growing reliance on standalone bungalow transactions to meet the demand for luxury housing projects.
Despite rising construction costs, the interest in redevelopment remains strong, fueled by steady demand for premium homes. With limited buildable land and high absorption rates in the luxury segment, developers continue to pursue strategically positioned plots suitable for boutique projects.
Considering the size and location of this plot, analysts anticipate that it will eventually be transformed into a luxury residential development, aligning with the ongoing upgrades across the Bandra-Khar-Santacruz region.
This ₹164-crore sale adds to the expanding list of bungalow-to-redevelopment transactions in Mumbai, highlighting the rapid transformation of the city’s remaining standalone homes into new premium housing stock.
