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Devisha Yadav, wife of Indian cricketer Suryakumar Yadav, has acquired a luxury apartment in Chembur, Mumbai, for ₹7.18 crore (approximately $865,000), according to property registration documents reviewed by Square Yards. The transaction was registered in February 2026, as per records from the Inspector General of Registration.
The apartment is located in Godrej Sky Terraces and features a carpet area of 1,402 sq. ft. (130.25 sq. m.) with a total area of 1,516.20 sq. ft. (140.86 sq. m.). The unit comes with two car parking spaces. Stamp duty for the transaction amounted to ₹35.90 lakh (around $43,000), while registration charges stood at ₹30,000 (about $360).
Situated in Chembur, the locality continues to attract high-end buyers due to its strong connectivity to Mumbai’s commercial districts and a well-established social infrastructure. The suburb offers access to the Eastern Express Highway, Sion–Panvel Highway and Eastern Freeway, along with rail and monorail connectivity, positioning it as a preferred residential choice for professionals and investors alike.
The purchase adds to the Yadav family’s existing real estate footprint in the project. In March 2025, Suryakumar Yadav and Devisha Yadav jointly purchased two apartments in the same building for a combined ₹21.1 crore (approximately $2.54 million).
Luxury Demand Holds Firm Despite Moderation Signals
High-value residential transactions such as this align with broader trends highlighted in the Luxury Residential Outlook Survey 2026 released by India Sotheby’s International Realty. The annual survey indicates that buyers remain committed to luxury homes even as market expectations turn more measured.
According to the survey, 67% of high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs) remain bullish on India’s growth prospects over the next 12–24 months, despite global headwinds. About 72% expect India’s GDP growth to stabilize in the 6–7% range in FY27, reflecting moderated yet steady optimism.
Confidence in real estate as an asset class remains strong, with 67% of wealthy investors expecting annualized returns of up to 15%. The demand mix is evenly split, with 53% investing in luxury homes for capital appreciation and 47% buying for self-use. City-based residential properties continue to dominate preferences, with 31% prioritizing primary residences and 30% focusing on investment assets.
Commenting on the findings, Amit Goyal, Managing Director, India Sotheby’s International Realty, said that 2026 has opened on a note of “quiet confidence” following a defining year for the luxury housing market. He noted that demand is increasingly driven by a new generation of wealth creators—startup founders, next-generation entrepreneurs and senior professionals—who view real estate as a blend of permanence, lifestyle value and generational continuity.
Ashwin Chadha, CEO, India Sotheby’s International Realty, added that while momentum continues with moderation, prime urban luxury homes are expected to outperform due to scarcity. With more than 350 billionaires in India controlling nearly $2 trillion in wealth, demand for bespoke residential assets remains structural rather than cyclical, he said.
The survey also points to some cooling in second-home demand amid tightening quality inventory and rising prices, with buyers showing a preference for farmhouses near city peripheries or lifestyle destinations such as hill and mountain regions. At the same time, concerns over currency volatility and the rupee’s depreciation against the dollar are prompting wealthy investors to explore diversification into dollar-denominated assets.
Against this backdrop, marquee transactions in Mumbai’s premium micro-markets underscore the resilience of India’s luxury housing segment—one that continues to attract discerning buyers even as the market transitions into a more selective and disciplined phase.
