Celebrity home deals, Mumbai luxury surge & real estate IPOs

January 5, 2026

Celebrity home deals, Mumbai luxury housing surge, IPO filings, REIT plans & RERA rules updates shaping India’s real estate market.

1. Yasmin Karachiwala buys two apartments worth ₹37 cr in Bandra, Mumbai

Karachiwala is trainer to stars like Katrina Kaif, Deepika Padukone, Bipasha Basu, Nora Fatehi, Ananya Pandey, Hrithik Roshan

The purchase includes two 4-BHK homes, with both apartment measuring approximately 1,882 sq ft each

Meanwhile, the celebrity fitness instructor bought the apartments in Paradigm’s ultra-luxury Superstar–Signature Edition (Marquis Collection).

She also encouraged her niece, Shirin Qureishi, to buy another apartment in the same project

2. Alkem Laboratories’ founder’s parents buy penthouse for ₹63 cr in Bandra, Mumbai

Located at S Raheja’s Evergreen tower on Perry Road, it is the costliest non-sea-facing apartment in the Bandra–Khar belt

The residence titled ‘villa in the sky’, offers private terraces & double-height living room

The penthouse has a RERA carpet area of 4,583 sq ft, priced at around ₹1.37 lakh per sq ft

The septuagenarian couple are Satish Kumar Singh and Premlata Singh who have bought a non-sea-facing penthouse

3. Alkem Laboratories’ founder’s parents buy penthouse for ₹63 cr in Bandra, Mumbai

Located at S Raheja’s Evergreen tower on Perry Road, it is the costliest non-sea-facing apartment in the Bandra–Khar belt

The residence titled ‘villa in the sky’, offers private terraces & double-height living room

The penthouse has a RERA carpet area of 4,583 sq ft, priced at around ₹1.37 lakh per sq ft

The septuagenarian couple are Satish Kumar Singh and Premlata Singh who have bought a non-sea-facing penthouse

4. Uttar Pradesh plans to offer up to 25% discount to clear 10,000 unsold flats

The move is backed by the Model Costing Guidelines Basic Principles 2025 to dispose of unsold inventories of flats and plots

UP Housing Board has around 8,000 unsold units, including projects in Sidharth Vihar and Mandola

GDA alone has 1,748 unsold flats across five different housing schemes in the city

The unsold inventory belongs to Ghaziabad Development Authority (GDA) and UP Housing Board projects

5. Mumbai leads India’s luxury property boom as the rich spend ₹7,186 cr in 2025

India’s ultra-luxury housing market saw 51 transactions worth over ₹7,100 crore in 2025, making it one of the strongest years on record

Delhi NCR followed with 12 ultra-luxury home transactions during the year

Leena Tiwari’s ₹739 cr Mumbai purchase emerged as the single largest residential transaction of 2025

Mumbai led the market with 35 deals valued at around ₹5,100 cr, reinforcing its position as India’s top luxury real estate hub

6. Blackstone-backed Horizon Industrial files ₹2,600 cr IPO papers with Sebi

The company is raising the issue entirely as a fresh equity offer, without any offer-for-sale component, and it will use around ₹2,250 cr from the proceeds to repay existing borrowings.

Blackstone currently owns an 89% stake in Horizon Industrial Parks

Horizon operates pan-India, portfolio of ~60 mn sq ft across 46 assets in 10 cities, with about 95% occupancy & over 100 customers

Ahead of the IPO, the company raised nearly USD 200 mn (about ₹1,650 cr) in a pre-IPO round

7. Veegaland Developers files DRHP for IPO, eyes ₹250-cr via fresh issue

Veegaland Developers, part of the V-Guard Group, is ranked the state’s fastest-selling developer by ICRA

Net proceeds will fund ongoing and upcoming residential projects, with ₹111 cr earmarked for development costs

Around ₹18 cr will be used to acquire an identified land parcel, with the balance for future land buys and general purposes

Operating in Kerala, Veegaland has completed 10 projects, has 9 ongoing projects, land reserves of 7.20 acres

8. Bagmane Group files draft paper to launch ₹4000 cr REIT public issue

The IPO includes a fresh issue of units worth up to ₹3,000 cr and an Offer for Sale (OFS) of up to ₹1,000 cr

Net proceeds will be used to acquire Luxor at Bagmane Capital Tech Park (1 million sq ft) for ₹1,775 cr

Bagmane Prime Office REIT’s portfolio comprises six Grade A business parks with total area of 20 mn sq ft

Up to ₹1,025 cr will be used to part-fund the acquisition of a 93% stake in Bagmane Rio Business Park, spanning 1.1 million sq ft

9. Court junks classification of Godrej & Boyce’s land in Vikhroli as slum

In a relief for one of India’s oldest industrial houses, the ruling brings an end to a legal dispute dating back to 1978

It was noted that the state had failed to act on its own notification for 10 years

The disputed portion measures about 7,850 sq metres (around 2 acres) of the Godrej estate which was notified as a slm in 1978

The company challenged the notification, stating that contractors temporarily housed the workers during construction and provided free shelter and building materials.

10. Karnataka Rera to tell builders to specify exact parking slots on sale agreement

K-RERA chairman Rakesh Singh confirmed that the authority is finalising the rule.

Builders will have to clearly mention the size, type, and exact location of parking spaces

Previously, homebuyers in Bengaluru complained that builders frequently changed and left parking allotments unclear.

Builders must include these details in allotment letters and agreements for sale.

Conclusion

This week’s real estate updates underline contrasting yet connected trends across the market. On one hand, high-value purchases by Yasmin Karachiwala and the Alkem Laboratories’ promoter family reinforced Mumbai’s dominance in luxury housing. At the same time, data showed the city leading ultra-luxury transactions in 2025. Meanwhile, on the policy front, Uttar Pradesh’s plan to offer discounts on unsold flats and Karnataka RERA’s proposed parking disclosure norms aim to strengthen transparency and improve buyer confidence. Meanwhile, IPO filings by Horizon Industrial, Veegaland Developers and Bagmane Group point to sustained institutional appetite across industrial, residential and office assets, shaping the sector’s next growth phase.

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