K Raheja Corp projects in Tardeo, Mumbai

A 1956 developer returns to the site that shaped South Mumbai retail

K Raheja Corp traces its origins to 1956, when Chandru Raheja began building in a Mumbai that had barely started imagining vertical living. Nearly seven decades later, the group's residential arm, K Raheja Corp Homes, is placing its newest South Mumbai address on a plot with its own retail history: the site of Crossroads, later renamed SOBO Central, the mall that opened in Tardeo in September 1999 and is widely regarded as India's first modern shopping mall. In April 2024, K Raheja Corp acquired the SOBO Central property to redevelop it into a luxury residential tower, a project now marketed as K Raheja SOBO Residences.

The acquisition was reported at roughly ₹476 crore for the SOBO Central asset, and the group separately picked up Tardeo's Bayside Mall and the Popular Press Building for over ₹355 crore in December 2024, consolidating its footprint in this stretch of Tardeo Road between Haji Ali Junction and Nana Chowk.

K Raheja SOBO Residences: what is actually coming up

K Raheja SOBO Residences sits on M.M. Malviya Marg in Tardeo, registered with MahaRERA under PR1170002502274, on a project footprint of about 5,357 square metres (roughly 1.32 acres) with a proposed height of 54 floors. The scheme is structured around 129 sanctioned units, the bulk of them residential, with configurations spanning 1 and 2 BHK homes with carpet areas between roughly 1,214 and 1,625 sq ft, alongside a separately marketed ultra-luxury tier of 5 BHK residences of about 9,000 sq ft carpet area across a limited run of 33 homes. Proposed possession is registered for July 2033, and ICICI Bank is named as the project bank on the MahaRERA record.

Average quoted rates for the project sit close to ₹73,800 per sq ft, in line with the Tardeo micro-market average of around ₹74,000 per sq ft, positioning SOBO Residences squarely within the pricing band the group's other South Mumbai and Mahalaxmi-Worli towers already command.

Part of a wider South Mumbai residential line-up

SOBO Residences does not stand alone in K Raheja Corp Homes' portfolio in this belt. The group has already delivered Raheja Vivarea in Mahalaxmi and Raheja Artesia in Worli, both cited by the company as marquee South Mumbai residences, alongside Raheja Vihar and other projects further out in the city. Vivarea's own listed rates have moved into the ₹70,000-90,000 per sq ft range over recent quarters, and Artesia in Worli has traded around ₹93,000 per sq ft, giving a buyer evaluating SOBO Residences a visible, comparable price trajectory within the same developer's book rather than a one-off, unproven launch.

Beyond residential towers, K Raheja Corp's scale in Mumbai runs through its Mindspace and Commerzone commercial parks and its Mindspace Business Parks REIT, and through retail brands including Crossword Bookstores and Shoppers Stop, alongside malls such as Inorbit and Infiniti that the group has operated since the early 2000s. That combination of a nearly 70-year operating history, an institutional REIT platform, and a residential arm reported to have delivered homes to over 8,500 families gives the SOBO Residences launch a backing rarely available to a single-tower redevelopment.

Why Tardeo's infrastructure matters to this specific project

Tardeo Road, running between Haji Ali Junction and Nana Chowk, is the spine of the locality and puts SOBO Residences within a short drive of Peninsula Corporate Park, the Tardeo-Worli-Lower Parel office belt, and occupiers such as Goldman Sachs India and Zee Entertainment, most reachable within 5 to 15 minutes. Jaslok Hospital, Bhatia Hospital, and the Breach Candy Hospital Trust are each within about 2.5 km, and schooling options nearby include Hill Spring International.

Connectivity has firmed up further with the opening of the Mumbai Metro Line 3 Mahalaxmi station on 8 October 2025, which interchanges with the Western Line suburban railway and is planned to link with the Mumbai Monorail, adding a rapid transit option to a locality that already sits on the suburban rail corridor between Mumbai Central and Lower Parel.

Price context for a South Mumbai buyer

Tardeo has posted year-on-year price growth of about 13.4 percent and three-year appreciation near 36 percent, with per-square-foot rates across the micro-market ranging roughly between ₹70,000 and ₹1,20,000 depending on the building's age, floor, and configuration. Rental yields in this pocket typically run between 2.5 and 3 percent, consistent with an ultra-prime South Mumbai market where the buying case rests on capital appreciation and address rather than rental income. For context, K Raheja Corp's own Raheja Vivarea in Mahalaxmi has appreciated by roughly 12 percent over a comparable three-year window, giving prospective SOBO Residences buyers a developer-specific benchmark alongside the broader Tardeo trend.

Table: K Raheja Corp's South Mumbai residential line-up