Runwal Realty Acquires Prime 4-Acre Land in Worli, Plans INR 8000 Crore Luxury Residential Project

Strategic Land Acquisition Enhances Runwal’s South Mumbai Footprint

Runwal Realty, a prominent real estate developer, has secured a 4-acre land parcel in Mumbai's prestigious Worli neighborhood from Kansai Nerolac Paints. The acquisition, valued at approximately ₹800 crore, includes taxes and government levies. Runwal Realty intends to transform the site into a luxury residential development with a construction potential of 1 million square feet, projected to generate an impressive ₹8,000 crore in revenue.

Expansion into Luxury Real Estate Market

Sandeep Runwal, Managing Director of Runwal Realty, emphasized that this acquisition aligns with the company's strategy to expand within South Mumbai’s luxury sector. The move follows successful projects like Runwal The Residence at Nepean Sea Road and Runwal The Reserve in Worli. The developer’s commitment to delivering upscale living experiences with spacious layouts underpins their approach to catering to high-end residential demands.

Growing Demand for Prime Land Across Major Indian Cities

Kansai Nerolac publicly disclosed the deal through a regulatory filing, listing the land parcel sale at ₹726 crore. Nishant Kabra, head of capital markets (West & North) at JLL, the exclusive advisor on this transaction, highlighted that high-demand, large-scale land deals offer significant opportunities for well-capitalized, Grade A developers amid favorable market conditions and infrastructure support.

Mumbai’s Real Estate Market Setting New Benchmarks

Mumbai, India’s largest and costliest realty market, continues to set records in property registrations and stamp duty collections, with demand remaining resilient despite rising mortgage rates and property costs. The appetite for land acquisition spans across India’s primary cities, with transactions gaining momentum in Mumbai, Pune, Chennai, Hyderabad, and Bengaluru. This trend is driven by a growing need for residential, commercial, and mixed-use developments, positioning major cities as hubs for both domestic and foreign investment.