New Launch Alert
K Raheja CG House Worli Redevelopment Listed as Upcoming Luxury Project
K Raheja Corp Homes (operating through Skybound Realty) and CG Power have entered a joint venture to redevelop CG House, a landmark office building in Worli, into ultra-luxury residential towers. The project is listed as upcoming with an expected launch window in 2025-2026.
| Developer | Skybound Realty Private Ltd, a K Raheja Corp group company |
|---|---|
| Joint Venture Partner | CG Power and Industrial Solutions |
| Location | Dr. Annie Besant Road, Worli, Mumbai |
| Land Area | 4,262.34 square meters (leasehold) |
| JV Structure | 50% ownership in the new towers for each party |
| Development Agreement Date | July 4, 2024 |
| Product Type | Ultra-luxury residential towers |
| Status as of September 2026 | Upcoming – pre-launch stage, no RERA registration or public pricing yet disclosed |
Project Overview
CG House, one of the landmark buildings of Mumbai's tony Worli area, will be demolished soon as CG Power and Industrial Solutions has signed an agreement with real estate major K Raheja Corp Group to jointly develop the property. The partnership, which was formed on July 4, 2024, aims to jointly develop the company's property, CG House, located on Dr Annie Besant Road in Worli, Mumbai.
This agreement follows a term sheet signed on December 14, 2023, outlining cooperative development ambitions.
Deal Structure
Under the terms of the agreement, CG Power grants Skybound Realty development rights to construct and develop additional buildings on the designated land. The deal states that both CG Power and Skybound Realty will share equally in the ensuing development, with each party receiving a 50% ownership in the new towers.
Site Details
The property in question is a leasehold lot of 4,262.34 square metres. The site sits on Dr. Annie Besant Road, one of Worli's prime residential and commercial thoroughfares, in a neighbourhood characterised by established luxury residential projects and sea-link connectivity.
Product & Launch Timeline
The redevelopment is positioned as ultra-luxury residential, with an expected launch in 2025-26. As of September 2026, no RERA registration, unit configurations, price band, or possession timeline have been publicly announced. The project remains in pre-launch/upcoming status pending regulatory approvals and marketing readiness.
Market Context: Worli's Ultra-Luxury Segment
Worli has consolidated its position as Mumbai's premier ultra-luxury destination. Worli's real estate market is booming with a remarkable 30% price increase from 2022 to 2025, with current average prices at ₹75,000 per sq. ft. Ultra-luxury property segment thrives with 30+ deals above ₹40 crore in the past year, including a record-breaking ₹400 crore sea-facing acquisition. The market is also witnessing significant redevelopment of aging properties, ensuring a continuous pipeline of high-end residences.
Luxury projects such as Lodha The World Towers, Birla Niyaara, Oberoi Three Sixty West, and Raheja Imperia define Worli's skyline, attracting celebrities, business tycoons, and NRIs.
Infrastructure & Connectivity
Worli benefits from major transport and infrastructure investments. With ongoing infrastructure projects like the Mumbai Coastal Road and Metro Line-3, its desirability is only set to rise further. Dr. Annie Besant Road offers direct connectivity to the Bandra-Worli Sea Link, Mahalaxmi, and Lower Parel business districts, and has easy access to healthcare, dining, and retail amenities concentrated in South Mumbai.
Developer Track Record
K Raheja Corp Homes, the residential arm of K Raheja Corp, has a documented history in luxury residential development. The residential business of K Raheja Corp spans multiple projects in Mumbai, Pune and Hyderabad. The group has commenced luxurious residential projects like Artesia and Vivarea in Mumbai, and have developed other luxury projects in Mumbai, Pune and Hyderabad.
What to Expect at Launch
Investors tracking this project should await: (1) RERA registration with official unit configurations and pricing; (2) public launch announcement confirming possession timeline; (3) detailed brochures and floor plans; (4) payment plans and pre-launch offers. Given Worli's ultra-luxury positioning and the 50-50 JV structure with equal upside to both CG Power and K Raheja Corp, unit pricing is likely to align with peer ultra-luxury projects on Dr. Annie Besant Road and near Mahalaxmi.
Frequently asked questions
When is CG House Worli redevelopment expected to launch?
The project's expected launch window is 2025-26, positioned as ultra-luxury. As of September 2026, formal RERA registration and public launch details have not yet been announced.
What is the joint venture structure?
Both CG Power and Skybound Realty (K Raheja Corp group) will share equally in the ensuing development, with each party receiving a 50% ownership in the new towers.
What is the land area of the project?
The property is a leasehold lot of 4,262.34 square metres.
What product type is planned?
The redevelopment is planned as ultra-luxury residential towers. Specific configurations and amenities will be disclosed at official launch.
Is the project RERA registered?
As of September 2026, no RERA registration has been publicly filed. Buyers should monitor the MahaRERA portal (https://maharera.maharashtra.gov.in) for registration once the project is formally launched.
How does Dr. Annie Besant Road compare for luxury real estate?
Worli's real estate market has seen a 30% price increase from 2022 to 2025, with current average prices at ₹75,000 per sq. ft. Ultra-luxury property segment thrives with 30+ deals above ₹40 crore in the past year.