Pramit Jhaveri and his wife, Mukeeta, purchased a luxury apartment on South Mumbai’s Carmichael Road for ₹38.16 crore, according to property registration documents accessed by Zapkey.
Jhaveri, the former CEO of Citibank India, has decided not to seek another term at the Sir Dorabji Tata Trust, one of the two principal trusts that control the $300-billion Tata group. His tenure ends on February 11, Mint reported on January 31.
Jhaveri and his wife, Mukeeta, had purchased the apartment at ₹1.36 lakh per sq ft in Echay House, a project developed by JSW Realty, according to the documents.
The apartment has a carpet area of 2,805 sq ft, and the purchase, along with its car parking spaces, was registered on November 29, 2025, according to the documents.
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A stamp duty of over ₹2.28 crore and a registration fee of ₹30,000 were paid to register the transaction, the documents showed.
An email query has been sent to JSW Realty. The story will be updated if a response is received. Pramit Jhaveri could not be reached for a comment.
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Mumbai’s luxury real estate market
India’s ultra-luxury housing market saw one of its strongest years on record in 2025, with wealthy individuals and entities spending over ₹7,100 crore on 51 marquee residential transactions, as per data collated by Zapkey.
The highlight of 2025 was pharmaceutical firm USV chairperson Leena Gandhi Tewari’s purchase of two ultra-luxury sea-facing duplex apartments in Mumbai’s Worli for nearly ₹739 crore, the largest single residential deal ever recorded in India.
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The apartments are located in Naman Xana, a 40-storey premium tower on Worli Sea Face, and span the 32nd to 35th floors. Together, they cover 22,572 sq ft, with the deal valued at over ₹2.83 lakh per sq ft on carpet area, as per registration documents dated May 28, 2025 shared by Zapkey.