Pramit Jhaveri, the former CEO of Citibank India, and his wife, Mukeeta, have acquired a high-end apartment in Echay House, a luxury project developed by JSW Realty, for ₹38.16 crore. Property registration documents accessed by Zapkey confirm the transaction, which was registered on November 29, 2025.
The couple paid a rate of ₹1.36 lakh per sq. ft. for the 2,805 sq. ft. apartment, making it one of the most expensive residential deals in Mumbai’s Carmichael Road micro-market. The purchase also includes car parking spaces. A stamp duty of over ₹2.28 crore and a registration fee of ₹30,000 were paid to complete the transaction.
Jhaveri, who recently announced he would not seek another term at the Sir Dorabji Tata Trust, has been a prominent figure in India’s financial sector. His move into one of South Mumbai’s most exclusive addresses underscores the continued demand for luxury housing in the city’s prime neighbourhoods.
Carmichael Road, long considered one of Mumbai’s most prestigious residential corridors, has seen steady interest from high-net-worth individuals and corporate leaders. The area’s limited supply, heritage value, and proximity to South Mumbai’s business districts continue to drive premium pricing.
Industry experts note that transactions such as Jhaveri’s highlight the resilience of Mumbai’s luxury housing market, even amid broader economic moderation. With developers like JSW Realty entering the space, Carmichael Road is expected to maintain its position as one of the city’s most sought-after addresses.
