In line with the demand for uber-luxury homes in key cities, luxury real estate developer Supreme Universal unveiled four new projects in Mumbai. These projects in the high value luxury segment will come up at Chembur, Bandra and Andheri, a top company executive said.
“We have seen robust demand for luxury homes in our projects which are known for their prime locations and the enhanced lifestyle they offer. The new projects will be in the price range of ₹40,000 to ₹1,50,000 per sq. ft.,” Sunny Bijlani, Joint Managing Director, Supreme Universal said.
Some of the apartments will be priced upwards of ₹50 crore, he said.
In 2022 the company had created a record by selling an apartment at ₹1,50,000 per sq. ft. in Pali Hill, Bandra.
He said the company which has 2 million sq. ft. of real estate under development in Mumbai will add one million sq. ft. in the high value ultra-luxury segment.
In Pune the company has 2 million sq ft under development and an additional 4 million sq ft is in pipeline, he added.
Considering the high demand and limited supplies of such homes, the real estate prices in this segment is expected to go up. As per a report by Anarock, Worli, the luxury housing hub of Mumbai has seen deals worth Rs 4,862 crore in 2023-24 and prices had surged 30%.
However, according to Mr. Bijlani, in 2025 “prices will beat inflation and that’s what is healthy.”
The company has announced the completion of all phases of Supreme Estia, a luxury residential project in Pune. The project, located over five acre, has more than 600 units and fetched the company revenue of ₹750 crore.
In 40 years the company has completed over 75 projects including 30 redevelopment projects in Mumbai and Pune.
Published – March 13, 2025 08:23 pm IST
