Malabar Hill is Finished, Bandra and Worli are New Kings of Mumbai | Real Deal | Vishal Bhargava

Decoding the dark secrets of Mumbai’s luxury market with Satguru Builders.

In this episode of the Real Deal, I talk to the Mumbai-based developer Sharan Babani of Satguru Builders. It operates in the high-profile market of Bandra that is the neighbourhood of celebrities like Shah Rukh Khan, Sachin Tendulkar and Salman Khan.

He is an expensive builder to buy from. Many would say he is a bit too expensive by selling at prices of over ₹1 lakh per sqft. He defends his pricing by saying he’s not a builder, he’s a developer.

He slams many of his peers by saying that there is no difference between a building quality of in the posh Pali Hill or the affordable Dahisar.

Sharan says the two most expensive locations in Mumbai by 2030 will be sea-facing properties at Worli and Bandra. The prices for some of the projects could touch levels of ₹2 - 2.5 lakhs for select projects. He believes the dominance of Malabar Hill as India’s most expensive location will soon be over.

He’s cautious on the outlook for the Bandra market due to excess redevelopment. For products without any differentiation - he expects price cuts of upto 20% if the developer doesn’t have adequate financing.

Do Bollywood celebrities buy homes very differently? As someone who has celebrities like Saif Ali Khan and Kareena Kapoor staying in his buildings - Sharan says No. He says celebrities buy in the same manner as anyone else.

00:00 – 01:27 Intro
01:28 – 05:35 Why are you so expensive?
05:36 – 06:54 Most abused word in RE: Luxury
06:55 – 11:59 Transformation of Bandra in Mumbai
12:00 – 15:55 Being the Aamir Khan of Mumbai Real Estate
15:56 – 18:29 Is Satguru a brand?
18:30 – 23:27 Why do so many projects get stalled?
23:28 – 27:21 Govt should ban sale of under-construction homes
27:22 – 33:44 Worli and Bandra to rule Mumbai
33:45 – 38:23 How do Bollywood actors buy homes?
38:24 – 41:55 Price cuts inevitable in Mumbai
41:56 – 44:43 Choosing different colors in a building
44:44 – 47:50 The next 1 lakh/sqft markets
47:51 – 52:39 How are luxury homes sold?
52:40 – 53:30 Rapid Fire