Godrej Properties buys land in Carmichael Road

Godrej Properties buys land in Carmichael Road

Godrej Properties buys land in Carmichael Road

Godrej Properties buys land in Carmichael Road

Godrej Properties is one of the most renowned and tursted name in the real estate market in India has acquired a land parcel in Carmichael Road from Karam Chand Thapar (KCT) Group through its real estate arm Indian City Properties Ltd (ICP).

Established in 1939, ICP is a boutique developer of ultra-premium commercial properties and has registered office in Kolkatta and Corporate Head Quarters in New Delhi. This property in Carmichael Road has been with the group for 70 odd years.

Carmichael Road is one of the most sought after Super Premium Real Estate Market in South Mumbai. Located off Peddar Road while coming from Worli Side once you turn left as soon as you climb up, you are in absolute peace and tranquil environment. Carmichael Residences by Peninsula Land was the last developed Brand New Building on that stretch. Carmichael Road has Buildings like Landmark, Usha Kiran, Normandie, Silvanroche, Pemino, Chitrakoot which are a few premium apartment buildings besides the Japanese Consulate and the BMC Commissioner Bunglow.

The rates in Carmichael Road can be as high as Rs.80000/- PSF to Rs.125,000/- PSF. The piece of land acquired by Godrej is just around half an acre yet the commercial value for the sale will be around 1200 Crores as envisaged by Godrej Properties. The Carmichael Road and Altamount Road is very very high profile market - Mr.Mukesh Ambani is right there with Antilia and Lodha Altamonte is a fully sold out building with super luxury apartments.

One of the last transactions reported in Lodha Altamonte by the Lodha Group registered on March 24, 2022 was for an area of 5010 Sq.Ft sold at 55.0 Cr making it an effective rate of Rs.109784 PSF. A transaction in Chitrakoot at the End of Carmichael Road was registered on December 14, 2021 of an area of 2050 sq.ft for 19 Cr giving an effective rate of of Rs.92,683 PSF.

Godrej Properties will be able to easily sell the inventory they make to the discerning buyers in the location as there is already a rate established in the location. This acquisition will strengthen the Godrej Properties luxury portfolio in South Mumbai.

It will be interesting to see if Godrej Properties makes Super Luxury apartments with larger floor plates or smaller 3 or 4 BHK apartments as the Demand for smaller unit is much higher and easier to sell in Carmichaeal Road as there is no major inventory on Sale in the neighboring buildings and with proximity to Worli, Lower Parel and Bandra and Airport its the most exclusive address with the superb connectivity to go further South towards Nariman Point or towards Bandra. With coastal road coming up in a few years a lot of traffic from the Peddar Road will disappear giving the location further impetus.










About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.


Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.


  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

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