The Adani Group has acquired a premium 1.1-acre land parcel in Carmichael Road locality in South Mumbai for over Rs 170 crore, through its subsidiary Mah-Hill Properties. The transaction, finalised on 27 March, 2025, includes the purchase of a 2,760 sq. ft. residential cottage currently on the plot. 

Carmichael Road, located in the Malabar Hill area, is renowned for its elite residences, limited land availability, and proximity to key business districts. It remains a preferred location for ultra-high-net-worth individuals and prominent business families.

The 4,500 sq. mts. freehold plot was sold by Behram Nowrosji Gamadia, who inherited it from his family, which had held ownership since the early 20th century. Originally, the land had been designated for a children's park under the 1991 Development Plan. However, the Brihanmumbai Municipal Corporation (BMC) revised its status in Development Plan 2034, reclassifying it for residential use.

The strategic location of the plot hints at a possible luxury residential or mixed-use project in the future. The site is located near the Municipal Commissioner’s bungalow, further highlighting the exclusivity of the area.