Two towers under construction in Mahalaxmi. Godrej Avenue Eleven at Rs.15–17 Crore. 25 Downtown at Rs.31–45 Crore. Most buyers shopping one are not shopping the other. Here is the complete breakdown.
The Number That Separates Them
Avenue Eleven: Rs.71,500–72,000/sqft. 25 Downtown: Rs.90,000–91,000/sqft. That Rs.19,000/sqft gap on a 2,105 sqft flat is Rs.4 Crore. On 3,400 sqft it is Rs.6.5 Crore. The question is what that premium buys — and whether a Dec 2031 wait justifies itself over Dec 2028.
Project Snapshot
| Parameter | Godrej Avenue Eleven | 25 Downtown |
|---|---|---|
| Developer | Godrej Properties | Hubtown (Twenty Five Downtown Realty) |
| RERA | P51900005216 | P51900076617 / P51900077131 / P51900077543 |
| Configurations | 4 BHK only (5 active units) | 4 BHK + 5 BHK |
| Price range | Rs.15.07 Cr – Rs.17.60 Cr | Rs.31 Cr – Rs.45 Cr |
| Carpet area | 2,105 – 2,459 sqft | 3,400 – 5,000 sqft |
| PSF (asking) | ~Rs.71,500–72,000/sqft | ~Rs.90,000–91,000/sqft |
| Possession | December 2028 | December 2031 |
| Wait from May 2026 | ~31 months | ~67 months |
Godrej Avenue Eleven — What Rs.15–17 Crore Gets You
Property Butler tracks 5 active 4 BHK units ranging from Rs.15.07 Crore (2,105 sqft, Rs.71,593/sqft) to Rs.17.60 Crore (2,459 sqft, Rs.71,574/sqft). City-view units at Rs.16.47–17.03 Crore cover 2,301–2,374 sqft. Every unit is priced in the Rs.71,500–72,000/sqft band — Godrej has minimised floor premiums to keep absorption clean.
Amenities: Olympic-length pool, heated pool, rooftop infinity pool, rooftop observatory, spa, seven sports courts. Godrej Properties is India’s largest listed real estate developer with MahaRERA compliance across 50+ active projects in 12 cities. For buyers who have watched developers stumble on ultra-luxury commitments, the listed-company accountability matters as much as the amenity list.
Possession timing is Avenue Eleven’s strongest card. December 2028 is a 31-month bet. Under-construction appreciation in Mahalaxmi has run at 8–10% per annum over the 2021–2026 cycle. A buyer locking in at Rs.71,500/sqft today could reasonably expect Rs.85,000–88,000/sqft at delivery on current demand trajectories alone.
25 Downtown — What Rs.31–45 Crore Gets You
25 Downtown occupies prime land adjacent to the Willingdon Club. The 4 BHK at Rs.31 Crore covers 3,400 sqft carpet — 62% more floor plate than Avenue Eleven’s largest unit. The 5 BHK at Rs.45 Crore reaches 5,000 sqft, one of the largest new apartment formats in South Mumbai below Rs.50 Crore.
Amenity list: bowling alley, private karaoke, cinema room, sports bar, squash and football courts, spa and salon, kids club, gaming lounge, library, concierge. The Willingdon Club adjacency is a permanent address signal that no amount of lobby marble can manufacture anywhere else.
The risk: December 2031 is 67 months away. No rental income, 5% GST on the full agreement value (approximately Rs.1.55 Crore on a Rs.31 Crore unit), and 5+ years of macro uncertainty. Raheja Modern Vivarea nearby lists a 5 BHK at Rs.26.10 Crore for March 2028 delivery — Rs.18.9 Crore less for a 44-month earlier key-handover.
Mahalaxmi Under-Construction Price Map — May 2026
Rs.15–17 Cr: Godrej Avenue Eleven (4 BHK, 2,105–2,459 sqft) — Dec 2028
Rs.18–26 Cr: Raheja Modern Vivarea (3–5 BHK, 1,740–2,889 sqft) — Mar 2028
Rs.31–45 Cr: 25 Downtown (4–5 BHK, 3,400–5,000 sqft) — Dec 2031
Based on Property Butler active inventory, May 2026
Buyer Profile Breakdown
Avenue Eleven Buyer
- Budget Rs.15–18 Crore for a 4 BHK
- Values Godrej brand assurance
- Dec 2028 preferred over 2031
- 2,100–2,400 sqft is sufficient
- Primary residence or Bandra/Juhu upgrade
25 Downtown Buyer
- Can park Rs.31–45 Crore until 2031
- Willingdon Club member or aspirant
- Genuinely needs 3,400+ sqft
- Second or third South Mumbai property
- Long-term address statement, not a flip
Investment Lens: Resale Liquidity
Avenue Eleven’s Rs.15–17 Crore price point has a substantially wider pool of secondary buyers than the Rs.31–45 Crore band. Quality properties in the Rs.15–20 Crore range in South Mumbai currently turn over in 3–6 months. The Rs.30 Crore-plus band has a thinner exit pool — not a problem for a 15+ year hold, but a real consideration for 7–10 year horizons.
Both projects benefit from the adjacent 225-acre Mahalaxmi Racecourse redevelopment under active government review. A green-space outcome lifts view values across the corridor; a residential rezoning adds supply pressure. The uncertainty does not alter the fundamental thesis for either building.
Ready-to-move alternatives: Piramal Mahalaxmi from Rs.9.2 Crore (OC received), Lodha Bellevue Mahalaxmi from Rs.5.04 Crore (OC received). See Mahalaxmi ready-to-move guide for details.
Related Reading
→ Godrej Avenue Eleven — Full 4 BHK Buyer Guide 2026
→ 25 Downtown Mahalaxmi — Complete Project Review
→ Raheja Modern Vivarea — The Rs.18–26 Crore In-Between Option
Frequently Asked Questions
Is the Rs.19,000/sqft premium for 25 Downtown over Avenue Eleven justified?
Only if you genuinely need 3,400–5,000 sqft and the Willingdon Club address matters. For buyers wanting maximum sqft-to-value, Avenue Eleven at Rs.71,500/sqft with Dec 2028 delivery is the stronger proposition. No other new Mahalaxmi project offers 3,400+ sqft carpet at any price — that is 25 Downtown’s unique justification.
What is the GST cost on these under-construction properties?
5% GST on agreement value. Rs.15.07 Crore at Avenue Eleven: approximately Rs.75 lakh GST. Rs.31 Crore at 25 Downtown: approximately Rs.1.55 Crore GST. Ready-to-move properties with OC attract zero GST — a material cost difference for buyers comparing UC versus RTM.
Can I earn rental income before possession?
No — under-construction properties cannot be rented until OC is received. Avenue Eleven: no income until late 2028. 25 Downtown: no income until 2031–32. If rental yield matters, explore ready Mahalaxmi inventory: Piramal Mahalaxmi (OC received), Lodha Bellevue Mahalaxmi (OC received), Prestige Jasdan Classic (OC received).
Which developer has the stronger delivery track record?
Godrej Properties is India’s largest listed developer with consistent MahaRERA compliance across 50+ active projects. Hubtown is a Mumbai-focused developer with completed projects in the city. For first-time HNI buyers, Godrej’s listed-company accountability is a meaningful comfort factor. Seasoned buyers who have verified Hubtown’s completed projects will find 25 Downtown’s product justified by its unique floor-plate scale.
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