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Alka Yagnik and daughter Syesha Kapoor buy Rs 11.5 crore luxury apartment in Mumbai in the same building where they live

Alka Yagnik and her daughter have purchased a spacious 2,297 sq. ft. home is in the luxurious Oberoi Sky Heights, where they already reside.

Alka Yagnik buys a luxurious apartment in Andheri-West

The purchase arrives at a time when the city’s luxury real estate market is walking a fine line between exuberance and excess. (Photo: Alka/Instagram)

In a move that blends luxury with familiarity, celebrated playback singer Alka Yagnik and her daughter Syesha Kapoor have sealed the deal on a premium apartment in Mumbai’s Andheri West for Rs 11.5 crore. The property, spanning a generous 2,297 square feet, is nestled in the upscale Oberoi Sky Heights — a tower Yagnik already calls home.

Registered officially on April 15, the transaction included a stamp duty payment of Rs 57.5 lakh, as per documents sourced via IndexTap. This isn’t a leap into the unknown for the mother-daughter pair. It’s more of a vertical expansion within the Lokhandwala landmark that Yagnik seems to favour. Other than her, residents in the building include Rahul Vaidya, Himesh Reshammiya, Shriya Saran, and Farah Khan.

But while the purchase reflects confidence in Mumbai’s premium property belt, it also arrives at a time when the city’s luxury real estate market is walking a fine line between exuberance and excess.

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Also Read | Alka Yagnik reveals she has been diagnosed with ‘rare hearing loss’, cautions regarding exposure to loud music and headphones: ‘A major setback’

Anuj Puri, Chairman of ANAROCK Group, notes that luxury housing — properties priced above Rs 1.5 crore — has undergone a transformation from niche to notable. “This segment’s share in overall housing sales grew from 7% in 2019 to 26% in 2024,” he said, underscoring a significant pivot in buyer priorities. However, beneath this surge lies a story of oversupply and investor hesitation. Puri cautions that the inventory of unsold luxury units ballooned 24% year-on-year, swelling from around 91,000 homes in Q1 2024 to over 1.13 lakh by Q1 2025.

In Mumbai’s Metropolitan Region alone, unsold stock in the luxury tier has climbed by 6% in just a year, reflecting both strong ambition and growing caution in equal measure.

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