Salman Khan sells Khar apartment for Rs 3.2 crore as Mumbai luxury housing market booms

Bollywood actor Salman Khan has sold his apartment in Khar West for ₹3.2 crore. The property is located in Shiv Asthan Heights on 16th Road and measures 1,265 square feet.

The sale was registered on Tuesday. The buyer paid ₹32.01 lakh in stamp duty, as per documents accessed by squareyards.com on the portal of Inspector General of Registration (IGR).

Khar West is one of Mumbai’s most established real estate locations. The area features premium apartments, old bungalows, and boutique commercial spaces. It continues to attract homebuyers and investors looking for quality properties in the city’s western suburbs.

Salman Khan still lives in Galaxy Apartments on Bandstand in Bandra. Bandra West in Mumbai is renowned for being a well-established and lucrative real estate hub, featuring a blend of luxury residential and commercial properties. This area boasts a diverse range of high-end apartments, historic bungalows, and stylish commercial establishments, appealing to both potential residents and savvy investors.

Mumbai’s luxury housing market has recorded a sharp spike in unsold inventory, with a 36% year-on-year rise in apartments priced above ₹2.5 crore. According to a report by real estate consultancy ANAROCK, unsold units climbed from 6,180 in Q1 2024 to nearly 8,420 in Q1 2025.

This surge signals a possible shift in buyer sentiment or an oversupply in Mumbai’s high-end residential segment. It also marks the first increase in unsold luxury stock since 2022, reversing the downward trend seen over the last two years.

In Q1 2023, unsold inventory had dropped by 29%—from approximately 18,340 units in Q1 2022 to 13,040 units. The decline continued into Q1 2024, plunging by 53% year-on-year to 6,180 units. However, the rise in 2025 suggests renewed challenges for developers in clearing high-value inventory.

Mumbai’s luxury real estate market has seen a notable jump in unsold inventory, with a 36% year-on-year increase in apartments priced above ₹2.5 crore. As per a report by real estate consultancy ANAROCK, the number of unsold units rose from 6,180 in Q1 2024 to nearly 8,420 in Q1 2025.

The spike indicates a potential mismatch between supply and demand in the city’s premium housing segment. It also marks a reversal of the improving trend observed over the past two years—making this the first uptick in unsold stock since 2022.

Back in Q1 2023, the inventory had dropped by 29%, falling from around 18,340 units in Q1 2022 to 13,040 units. The following year saw a steeper decline of 53%, bringing the figure down to 6,180 units in Q1 2024. However, the latest rise suggests developers may now face renewed pressure in offloading premium inventory amid shifting market conditions.