Bollywood singer Shantanu ‘Shaan’ Mukherjee and his wife Radhika Mukherjee have made a sizeable luxury property purchase in Bandra West, spending Rs 48 crore on a sprawling 6,300-sq-ft residence created by combining three apartments.

The property is part of Palmera by NVK Realty, located at the junction of Turner Road and St Martin’s Road. Sources told Mirror that the Mukherjees’ residence is on the 18th floor of the 22-storey luxury tower.

The deal was brokered by Propbay India LLP and registered on August 20, said Vikas V Bhatia, who handled the luxury transaction in Mumbai.

The three units have been combined across roughly one-and-a-half floors. Two apartments are interconnected, while the third remains an independent unit.

“It is a luxury property on Bandra’s Turner Road. The three units have been combined across approximately one-and-a-half floors,” a source said.

Palmera, a 22-storey residential tower, was constructed after the demolition of the old bungalow of actress Mala Sinha. The building also has a pool and bar on the 23rd floor, although its Occupancy Certificate (OC) is yet to be issued, sources said.

The Rs 48-crore purchase adds another chapter to Shaan’s longstanding association with Bandra. The singer has been a longtime resident of the suburb, with his family’s connection to the area spanning generations. His father, musician Manas Mukherjee, was also associated with the music industry, making Bandra a familiar family address.

The latest acquisition comes amid a bustling luxury housing market in Mumbai. The city recorded 1,499 luxury property registrations worth Rs 14,903 crore between April and June, according to the latest Quarterly Luxury Real Estate Report by Lighthouse Luxury.

The report, based on verified Maharashtra stamp duty and registration data, said Mumbai’s luxury market is clocking roughly 16 transactions of homes priced at Rs 5 crore or more every day. It pegged the average value of luxury transactions at around Rs 164 crore a day during the quarter.

For Shaan, though, the latest purchase has a more personal ring to it. His new Bandra address brings three apartments under one roof while continuing his family’s longstanding association with the suburb — albeit on a considerably grander scale.