Paradigm Realty acquired Florencia, a 30-year-old residential building at the foothills of Pali Hill in Bandra, expanding its ultra-luxury portfolio. Florencia is Paradigm Realty's third project in Bandra under its Marquis Collection, after Paradigm Superstar and Paradigm Green Acres.

Project Details:

• Site area: approximately 1,300 sq m
• Estimated GDV: Rs 3.5 billion
• Investment: approximately Rs 800 million
• Proposed height: approximately 70 m
• Structure: 2 basement levels, ground level, 5 podium levels, 15 residential floors
• Total residences: fewer than 30 (low-density format)
• Sales residences: approximately 15-20 units with 3 BHK and larger configurations
• Rehabilitation residences: approximately 11 units of around 1,800 sq ft each
• Two apartments planned per residential floor

Current Status:

• Existing building: single composite tower with 19 residential units owned by 10 families
• 100% consent recorded before Sub-Registrar
• Development Agreement formalities underway
• Planned launch: current year
• Commencement: FY2026-27
• Completion target: approximately 36 months from commencement

Combined Portfolio:

• Three Bandra developments (Florencia, Paradigm Superstar, Paradigm Green Acres): combined estimated development potential over US$125 million
• Paradigm Superstar and Green Acres: combined estimated GDV Rs 8.5 billion
• Focus areas: Bandra, Khar, Santacruz within Western and Central suburbs

Flat No. 1101, 11th floor, Parishram building, Nargis Dutt Road, Pali Hill. Built-up area 197.5 sq m, carpet area 164.52 sq m, three car parking spaces. Buyers: Priya Rajeev Nagar and Rajeev Yogesh Nagar, US citizens of Indian origin. Transaction registered March 2, 2026. Stamp duty: Rs 1.11 crore. Zinta acquired the flat through redevelopment as Permanent Alternate Accommodation under agreement with developer Keystone Realtors, formalised October 23, 2023.

ED attached the Pali Hill residential property 'Abode' under Prevention of Money Laundering Act, 2002. Earlier attachment: Rs 473.17 crores. Cumulative property attachments across the group now exceed Rs 15,700 crore.

ED initiated investigation based on CBI FIR under IPC sections 120-B, 406, 420 and Prevention of Corruption Act section 13(2) read with 13(1)(d) against RCOM, Anil Ambani and others.

RCOM and group companies have outstanding loans of Rs 40,185 crores from domestic and foreign lenders.

ED investigation found the Pali Hill property was aggregated into RiseE Trust (private family trust of Anil Ambani's family members) to make it appear Ambani was not involved. Corporate restructuring intended wealth preservation and resource generation while shielding the property from Ambani's personal liabilities and Personal Guarantees extended to lender banks. Property was meant to benefit the Ambani family, not distressed public banks whose loans became NPA.

Actor Ishaan Khattar acquired flat in Navroz Apartments, Bandra's Pali Hill under Navroze Premises Co-operative Society. Carpet area: 2,989.05 sq ft. Purchase price: ₹29.37 crore. Stamp duty paid: ₹1.76 crore. Transaction includes four parking spaces. Seller: Kapil M Mahtani. Registration date: February 5, 2026.

Pali Hill, Bandra is prestigious Mumbai neighborhood home to numerous Bollywood celebrities and high-net-worth individuals. Luxury apartments in area command prices ₹80,000 to ₹1.30 lakh per sq ft.

Notable Bollywood personalities owning property in Pali Hill: Aamir Khan, Shah Rukh Khan, Ranbir Kapoor, Alia Bhatt, Dilip Kumar, Jackie Shroff, Sanjay Dutt.

Recent transactions: Shah Rukh Khan leased two duplex apartments at ₹8.67 crore for three years from Bhagnani family—first duplex monthly rent ₹11.54 lakh with ₹32.97 lakh security deposit; second duplex ₹12.61 lakh monthly with ₹36 lakh security deposit. Aamir Khan rented four apartments in Pali Hill at ₹24.5 lakh monthly rent, located on Nargis Dutt Road in Wilnomona Apartment.

Shah Rukh Khan leased two duplex apartments in Puja Casa building, Pali Hill, Khar for 36 months.

Lease details:

• First duplex (from Jacky Bhagnani and Deepshikha Deshmukh): ₹11.54 lakh monthly rent, ₹32.97 lakh security deposit
• Second duplex (from producer Vashu Bhagnani): ₹12.61 lakh monthly rent, ₹36 lakh security deposit
• Total: ₹8.67 crore for three years

Property details:

• Located on first, second, seventh, and eighth floors of 15-floor building
• Distance from Mannat bungalow: approximately 3 km (10–20 minutes by car)

Reason for move: Shah Rukh Khan, his wife Gauri Khan, and their children (Aryan, Suhana, AbRam) are relocating temporarily while Mannat's annexe undergoes extensive renovation and expansion, expected to take nearly two years.

Renovation details: Gauri Khan applied to Maharashtra Coastal Zone Management Authority in November 2024 to add two floors to the annexe, adding 616.02 sq. meters of built-up area.

Locality: Pali Hill is home to Bollywood stars and cricketers; luxury housing per-square-foot rates range from ₹1 lakh and above.