Mumbai Real Estate News: Alka Yagnik, Daughter Syesha Kapoor Buy ₹11.5 Crore Apartment In Andheri West's Oberoi Sky Heights

Mumbai: Bollywood playback singer Alka Yagnik and her daughter Syesha Kapoor have purchased a high-end apartment in Andheri West, Mumbai, for Rs 11.50 crore, as per property documents accessed by IndexTap.

The spacious 2,297 sq ft apartment is located in Oberoi Sky Heights, Andheri West, and the transaction was officially registered on April 15. The mother-daughter duo paid a stamp duty of Rs 57.50 lakh for the purchase, according to the documents. Interestingly, Yagnik already resides in Oberoi Sky Heights, situated in the Lokhandwala Complex of Andheri West.

The acquisition comes at a time when Mumbai's luxury housing market is seeing increased supply and growing inventory levels. According to the latest report by Anarock, unsold stock in the luxury segment—defined as homes priced over Rs 1.5 crore—rose 24% year-on-year, from 91,125 units at the end of Q1 2024 to over 1.13 lakh units by Q1 2025. This growth is being driven by high demand and a surge in new project launches across India’s top seven cities, including the Mumbai Metropolitan Region (MMR).

In MMR alone, the report noted a 6% rise in luxury housing inventory between Q1 2024 and Q1 2025.

Anuj Puri, Chairman of ANAROCK Group, highlighted the boom in the segment, saying, “The luxury housing soared, with its sales share rising from 7% in 2019 to 26% in 2024, and new supply share doubling from 11% to 26%.”

However, he also pointed out the challenges in the market. “Nevertheless, the segment saw unsold inventory pile up due to increased supply and cautious investor sentiment amid the ongoing global economic uncertainty. Our data shows that unsold stock of luxury housing - units priced over Rs 1.5 Cr - rose 24% annually from about 91,125 units by Q1 2024-end to over 1.13 lakh units by Q1 2025-end. The build-up of stock in luxury housing, which has been the top-performing segment in the past 2-3 years, is largely due to significant supply additions in the last one to two years," emphasized Puri.