Pleasant Palace, Reimagined: A K Raheja Address on Malabar Hill's Sea Edge
Starting ₹1.3 lakh onwards
K Raheja Pleasant Palace is the redevelopment of Palmera Cooperative Housing Society, a 1971-vintage address on Narayan Dhabolkar Road that residents and brokers alike have long called Pleasant Palace. The property spans over 6,000 square meters and holds an estimated development potential of approximately 3 lakh square feet. K Raheja Homes has taken on the redevelopment, bringing its long-standing presence in Mumbai's high-value residential corridors to a plot that sits among the city's most restricted and sought-after ground.
The promise here is straightforward: a sea-facing hilltop setting within a locality where new large-format supply is rare. The Pleasant Palace redevelopment project aims to introduce ultra-luxurious residential offerings to Mumbai's high-end real estate market, positioned for buyers who value an established, low-density address over newer high-rise clusters elsewhere in the city.
Design intent for the redevelopment follows the pattern K Raheja Corp has applied across its South Mumbai and western suburb projects: full utilisation of available construction potential, larger floor plates than the original structures allowed, and residences built to a scale suited to Malabar Hill's older bungalow-and-tower streetscape. The society's 76 apartments across two buildings will make way for a redevelopment using the full FSI potential on the net plot area and the allowed replaceable compensatory area.
The timing reflects a broader shift in South Mumbai. The redevelopment of aging housing societies in Mumbai has become a growing trend, especially in prime localities like Malabar Hill, where space constraints and rising demand for modern infrastructure have led to an increased focus on premium redevelopment projects. Few plots of this size come up for redevelopment on Narayan Dhabolkar Road, and fewer still carry unobstructed sea aspect.
For those tracking Malabar Hill's next chapter, Pleasant Palace marks a rare opportunity to acquire into an address with five decades of continuous residential history, now being rebuilt for the next generation of South Mumbai living.
Starting from Rs. 1.3 lakh - Rs. 1.5 lakh per sq ft (carpet area)
Detailed master plan and unit-wise floor plans available on request.
Narayan Dhabolkar Road, Malabar Hill, Mumbai · Malabar Hill · Mumbai
Narayan Dhabolkar Road sits at the heart of Malabar Hill, the hilltop enclave that has anchored South Mumbai's old-money geography for over a century, home to the Governor's residence, Hanging Gardens, and Kamala Nehru Park. The neighborhood remains one of the city's most land-constrained micro-markets, where redevelopment of aging cooperative societies has become the primary route to new supply. Wide, tree-lined roads, low-rise heritage bungalows, and unbroken sea views define its character even as newer towers rise alongside them.
The Palmera Cooperative Housing Society plot occupies this setting directly, on a prime 1.5 acre sea facing plot in Malabar Hill on Narayan Dhabolkar Road. Its scale is unusual for the area: K Raheja Homes secured the redevelopment rights for Palmera Cooperative Housing Society, known locally as Pleasant Palace, and the 6,000 sq.m site is expected to yield up to 3 lakh sq ft of premium residential space, making it one of the more significant single-plot redevelopments to come to market in this part of the city.
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The Marine Drive to Worli sea-link stretch has cut travel times along the western seafront, easing access between Malabar Hill and the rest of South and central Mumbai.
Underground stations at Grant Road and Girgaon bring Mumbai's newest metro corridor within reach of Malabar Hill, linking the locality to Bandra Kurla Complex and the airport.
Ongoing traffic and streetscape improvements along these arterial roads have steadily improved access between Malabar Hill and Worli, Prabhadevi, and Lower Parel.
A wave of cooperative-society redevelopments across Malabar Hill, Breach Candy, and Pali Hill is renewing the area's aging housing stock and drawing sustained developer interest to the micro-market.
Road and signal upgrades near the Haji Ali junction continue to smoothen the connection between Malabar Hill and the Bandra-Worli Sea Link approach.
Few residential plots on Narayan Dhabolkar Road offer direct sea aspect at this scale, making Pleasant Palace one of the few large redevelopment sites available on Malabar Hill's western edge.
The group has built residences, commercial buildings, and hotels across India over more than four decades, giving this redevelopment the backing of an established South Mumbai developer.
At roughly 1.5 acres and 6,000 square metres, the plot is significantly larger than most society redevelopment sites available in land-locked South Mumbai today.
The redevelopment plan uses the complete floor space index potential on the net plot area, allowing significantly larger residences than the original 1970s-era apartments.
Hanging Gardens, Kamala Nehru Park, and the Governor's residence at Raj Bhavan are all within a short distance, reinforcing the locality's low-density, heritage character.
Palmera Cooperative Housing Society has stood on this land since 1971, and its redevelopment carries forward a long-established residential address into a new generation of construction.
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