K Raheja Registers Raheja SoBo Residences in Tardeo—128-Unit Luxury Tower from Bayside Mall Redevelopment

Project Overview & Acquisition

K Raheja plans to construct a luxury residential project on the acquired land, following the deal's finalization on August 13 with a stamp duty payment of ₹21.30 crore. The purchase was made through Ivory Property Trust, a subsidiary of K Raheja Corp, from Jaydev Mody-led AAA Holding Trust.

Bayside Mall is a three-story structure built on a one-third acre plot with a total built-up area of 17,345 sq ft. Adjacent to Bayside Mall, the Popular Press Building is a ground-plus-two-storey structure spread over a quarter of an acre. Together, these properties cover over half an acre of prime land, which is slated for redevelopment into a luxury residential project.

RERA Registration & Unit Specifications

The project was registered on 6 February 2026 and represents K Raheja's transformation of the erstwhile Bayside/Popular Press site into a premium residential tower on M.M. Malviya Marg.

Total units total 129, registered on February 6, 2026, with proposed possession on July 31, 2033, featuring 128 residential units and 1 non-residential unit across 54 sanctioned floors. The development includes 128 well-designed residences with 2 BHK flats ranging from 1214 to 1625 sq.ft., planned to ensure comfortable layouts for modern family requirements.

Built on 1.32 acres, the project features a durable RCC frame structure with thoughtfully planned interiors. Vitrified tile flooring and oil-bound distemper finished walls create a practical and low-maintenance living environment.

Pricing & Payment Structure

A 2 BHK at 1,500 sq.ft is expected to cost ₹5.89–₹7.88 crore (before GST and charges). EMI on a 20-year home loan at 8.5% would start around ₹40–50 lakhs per month for a ₹6.5 crore unit. Exact pricing varies by floor, view, and configuration; higher floors and sea-facing units will command 10–15% premiums.

Bookings are expected to open within the next 6–12 months. Since zero units have been sold, early booking windows may feature nominal discounts or priority floor/view selection.

Timeline & Possession

The tower is designed as a G+54 structure with 39 habitable floors and a total FSI of 28,929.58. The proposed possession date stands at 31 July 2033, giving buyers a seven-year construction window.

Site clearance and foundation work for Raheja SoBo Residences will commence once Bayside Mall is fully vacated. The nearby Central Mall redevelopment will also enter early-stage demolition, intensifying construction activity in the Tardeo–Haji Ali corridor.

Tardeo Locality Context & Infrastructure

Tardeo is an elite residential and commercial locality of South Mumbai, from Nana Chowk to Haji Ali Junction. Tardeo has emerged as one of Mumbai's most expensive micro-markets for luxury residential property, commanding per-square-foot rates between ₹70,000 and ₹1,20,000 depending on floor, age, and configuration.

Raheja Sobo Residences sits at the crossroads of South Mumbai's finest business and social infrastructure. Peninsula Corporate Park, DBS Workspace, Fort, the Tardeo–Worli–Lower Parel belt, Goldman Sachs India, and Zee Entertainment offices are all within 5–15 minutes' drive. Jaslok Hospital, Bhatia Hospital, and Breach Candy Hospital Trust are each within 2.5 km. Schools including Hill Spring International (ICSE/IB) and Ubuntu Montessori offer strong educational options.

The proposed Metro Line 7A (under development) will further enhance connectivity, linking Tardeo to key areas and the international airport. Major arterial roads such as Dr. Annie Besant Road and Lala Lajpatrai Marg offer smooth vehicular movement, connecting Tardeo to South Mumbai, Bandra, and the suburbs.

Developer Context

K. Raheja Realty was founded in 1956 and is led by Sandeep Raheja, who serves as both the chairman and managing director. K Raheja Corp is a six-decade-old real estate conglomerate with a portfolio spanning residential, hospitality, retail, and commercial development. The company pioneered green building in India, holding gold and platinum LEED certifications across multiple projects. Notable Mumbai projects include Raheja Vivarea at Mahalaxmi, Raheja Artesia at Worli, Raheja Antares in the Central Suburbs (3-acre ultra-low-density development), and Infiniti Mall across multiple cities.

The company's 2024–2026 strategy is heavily weighted toward South Mumbai luxury and mall redevelopment—a deliberate play on scarcity in India's most established ultra-premium market. K Raheja's Bayside and Popular Press acquisition is the developer's second major mall redevelopment in South Mumbai within a single year. Earlier, the company acquired Central Mall (formerly India's first mall, Crossroads) in Haji Ali for ₹476 crore, a property spanning 1.3 acres and slated for a roughly 50-storey sea-view luxury tower with 250,000 sq.ft of development potential.