K Raheja Homes to Redevelop Mumbai’s Iconic Pleasant Palace
Real Estate

K Raheja Homes to Redevelop Mumbai’s Iconic Pleasant Palace

K Raheja Homes has secured the rights to redevelop Palmera Cooperative Housing Society, famously known as 'Pleasant Palace', situated on Narayan Dhabolkar Road in Mumbai’s upscale Malabar Hill neighborhood. The sprawling property covers over 6,000 square meters, with an estimated development potential of approximately 300,000 sq. ft., according to a statement by JLL.

The Pleasant Palace redevelopment project aims to introduce ultra-luxurious residential offerings to Mumbai’s high-end real estate market. The estimated sales price for the upcoming project ranges from Rs 1,30,000 to Rs 1,50,000 per sq. ft. on carpet area, marking it as one of the most prestigious residential developments in the city.

This ambitious redevelopment plan comes amid growing activity in Mumbai’s luxury real estate sector. A recent example includes RK Damani’s high-profile bungalow purchase worth approximately Rs 12 billion in the same neighborhood.

Nishant Kabra, Head - Capital Markets (West & North), India, JLL, commented on the trend driving such projects: “Underlying fundamentals have changed. Just to draw an analogy, like in commercial, one has observed flight to quality; in residential as well, with consumer preferences becoming more sophisticated, it is now visible for two products to command quite different pricing within the same micro-market. This trend has been one of the major factors contributing to quality developers beefing up their development book.”

The redevelopment of Pleasant Palace is expected to reshape the Malabar Hill skyline, attracting elite buyers looking for luxury living in one of Mumbai’s most coveted locations.

K Raheja Homes has secured the rights to redevelop Palmera Cooperative Housing Society, famously known as 'Pleasant Palace', situated on Narayan Dhabolkar Road in Mumbai’s upscale Malabar Hill neighborhood. The sprawling property covers over 6,000 square meters, with an estimated development potential of approximately 300,000 sq. ft., according to a statement by JLL. The Pleasant Palace redevelopment project aims to introduce ultra-luxurious residential offerings to Mumbai’s high-end real estate market. The estimated sales price for the upcoming project ranges from Rs 1,30,000 to Rs 1,50,000 per sq. ft. on carpet area, marking it as one of the most prestigious residential developments in the city. This ambitious redevelopment plan comes amid growing activity in Mumbai’s luxury real estate sector. A recent example includes RK Damani’s high-profile bungalow purchase worth approximately Rs 12 billion in the same neighborhood. Nishant Kabra, Head - Capital Markets (West & North), India, JLL, commented on the trend driving such projects: “Underlying fundamentals have changed. Just to draw an analogy, like in commercial, one has observed flight to quality; in residential as well, with consumer preferences becoming more sophisticated, it is now visible for two products to command quite different pricing within the same micro-market. This trend has been one of the major factors contributing to quality developers beefing up their development book.” The redevelopment of Pleasant Palace is expected to reshape the Malabar Hill skyline, attracting elite buyers looking for luxury living in one of Mumbai’s most coveted locations.

Next Story
Infrastructure Transport

Smart Border Port Keeps Nonstop China-Vietnam Trade Flowing

On a recent spring morning at Youyiguan Port, known as Friendship Pass, on the China-Vietnam border in Pingxiang city, south China's Guangxi Zhuang autonomous region, a steady stream of trucks lined up at the border crossing, ferrying tropical fruits into China and hauling machinery and electronics to Vietnam. The scene is brisk, efficient - and increasingly automated. Friendship Pass, one of the largest and most efficient land border crossings between China and Vietnam, is undergoing a high-tech overhaul. The site is being transformed into China's first cross-border smart port, with the Chin..

Next Story
Infrastructure Urban

Cortec Delivers Corrosion Protection for Military Equipment and Infra

As modern military operations demand equipment that’s ready for immediate deployment, corrosion prevention has become more critical than ever. Addressing these challenges, Cortec® Corporation—an industry leader in environmentally responsible corrosion solutions—offers its proven VpCI® (Vapor phase Corrosion Inhibitor) technology to safeguard military equipment during production, transit, and long-term storage. Corrosion poses serious risks to o perational readiness, safety, and budgets. It can lead to critical equipment failures, costly repairs, and safety hazards. Studies indicate th..

Next Story
Real Estate

Unsold Affordable Housing Drops 19% in Q1 2025: ANAROCK

India’s housing market is showing contrasting trends across budget segments. According to the latest data from ANAROCK Research, unsold affordable housing units (priced below Rs 4 million) across the top seven cities dropped by 19% year-on-year in Q1 2025, falling from approximately 140,000 units to 113,000 units. This decline is attributed to restricted new supply and sustained demand from end-users. Conversely, unsold stock in the luxury housing segment (priced above Rs 15 million) surged 24% in the same period, growing from 91,125 units to over 1.13 lakh units. The spike comes on the bac..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?