Singer Shaan Acquires Rs 48 Crore Luxury Residence in Bandra West

In one of the prominent residential deals in Mumbai's western suburbs, playback singer Shantanu 'Shaan' Mukherjee and his wife Radhika Mukherjee have purchased a multi-apartment spread in Bandra West for Rs 48 crore.

The couple acquired a 6,300-square-foot residential space at Palmera, an ultra-luxury tower located in Bandra West. The transaction, brokered by Propbay India LLP, was officially registered on August 20, 2026. The property was created by amalgamating three independent apartment units covering roughly one-and-a-half floors on the 18th level of the building.

Property Details and Development Profile

Palmera is a boutique residential project developed by Pantheion Real Estate at 8 Turner Road, near the junction of St Martin’s Road. The 22-storey tower occupies a redeveloped land parcel that previously housed the bungalow of veteran actress Mala Sinha.

Designed as a low-density residential tower, Palmera contains 32 individual apartments. The complex features bare-shell unit layouts with ceiling heights of 3.3 metres, private floor lobbies, and open decks. Individual apartments in the development start from a carpet area of roughly 2,090 square feet, while entire-floor layouts exceed 4,180 square feet. Amenities within the complex include a rooftop infinity pool, sky deck, fitness center, wellness studios, meeting spaces, and specialized private facilities.

Robust Market Context for Premium Housing

The high-ticket purchase comes at a time when Mumbai's luxury housing market continues to post steady demand figures. Market analytics from the Lighthouse Luxury Quarterly Real Estate Report, compiled using Maharashtra government registration data via Zapkey, indicate significant transaction volumes during Q1 FY27 (April to June 2026).

During this three-month window, Mumbai registered 1,499 luxury residential sales valued at a cumulative Rs 14,903 crore. This translates to an average daily run-rate of approximately 16 luxury transactions worth nearly Rs 164 crore per day.

Monthly breakdown figures for the quarter reveal:

• April 2026: 563 luxury home registrations totaling Rs 5,726 crore.
• May 2026: 435 registrations totaling Rs 4,492 crore, with an average deal size of Rs 10.3 crore.
• June 2026: 501 registrations valued at Rs 4,686 crore.

The consistent market absorption has been primarily driven by end-user buyers targeting homes in the Rs 5 crore to Rs 10 crore price bracket, alongside selective multi-unit consolidations by ultra-high-net-worth individuals in prime micro-markets like Bandra West.

Key Takeaways

• Transaction Value: Singer Shaan and Radhika Mukherjee purchased a 6,300 sq ft apartment spread for Rs 48 crore.
• Configuration: The layout combines three units spanning 1.5 floors on the 18th floor.
• Location & History: Located at 8 Turner Road, Bandra West, on the redeveloped site of actress Mala Sinha's former bungalow.
• Market Snapshot: Mumbai logged 1,499 luxury property registrations worth Rs 14,903 crore in Q1 FY27.