In a significant development that could reshape India’s luxury real estate landscape, the Adani Group may soon acquire several landmark properties owned by the financially troubled Sahara Group.
A subsidiary of Sahara India Commercial Corporation Ltd (SICCL) has approached the Supreme Court (SC) seeking approval to sell 88 premium assets to Adani Properties Pvt Ltd, with the deal estimated at ₹12,000 crore. The proceeds are intended to settle long-pending investor dues as per directions from the apex court.
The SC has scheduled a hearing for November 17, 2025, directing the Ministry of Finance, Ministry of Corporate Affairs, and SEBI to file their responses on the matter.
Also Read: Adani Realty to Launch ₹10,000 Cr Mega Township Near Navi Mumbai Airport
The Backdrop — The Decade-Long Sahara-SEBI Saga
The case stems from a 2012 Supreme Court order mandating Sahara Group entities to refund over ₹24,000 crore raised through optionally fully convertible debentures (OFCDs), along with 15% annual interest, to investors via SEBI.
To date, Sahara claims to have deposited around ₹16,000 crore, though SEBI maintains ₹9,000 crore remains outstanding, as reported by Mint.
The sale of assets to the Adani Group is viewed as a crucial step in fulfilling these obligations.
Inside the Potential ₹12,000-Crore Deal: 4 Iconic Sahara Assets Adani May Acquire
If the Supreme Court grants permission, Adani could gain control over some of the most prestigious real estate holdings in India. Here’s a look at four key properties likely to be part of this mega-deal.
1. Aamby Valley City, Maharashtra — A World of Its Own
Spread across 10,000 acres near Lonavala, Aamby Valley City is one of India’s earliest and most ambitious luxury townships. Conceived by the Sahara Group in the mid-1990s, it transformed barren land into a self-contained premium township featuring:
- High-end villas and chalets
- An airstrip and private airport
- A championship golf course
- Lakes, restaurants, and recreational spaces
It remains a favorite getaway for celebrities, business elites, and professional golfers. For Adani Realty, acquiring Aamby Valley could mark its entry into India’s luxury township market.
2. Hotel Sahara Star, Mumbai — Gateway to Glamour
Standing tall opposite Terminal 1 of Mumbai’s Chhatrapati Shivaji Maharaj International Airport, Hotel Sahara Star is among Mumbai’s best-known five-star hotels.
- Features over 300 rooms and 20+ luxury suites
- Known for its distinctive dome structure and tropical lagoon
- Continues to maintain high occupancy due to its prime airport location
Operational since the early 2000s, this asset could be a strategic addition to Adani’s hospitality portfolio, offering both visibility and steady income.
3. Sahara Shaher, Lucknow — The Iconic Private Enclave
Located in Gomti Nagar, Sahara Shaher spans nearly 170 acres and was once a symbol of opulence in Lucknow. It was designed to include:
- Luxury villas and residences
- A helipad, theatres, and auditoriums
- Exclusive guesthouses for dignitaries and celebrities
However, the property recently made headlines when the Lucknow Municipal Corporation (LMC) sealed all six of its gates over alleged lease violations. The land, leased to Sahara India Commercial Corporation Ltd in 1995, has since been contested.
Despite the ongoing dispute, Sahara has sought SC’s approval to include this complex in the proposed sale.
4. Sahara Ganj Mall, Lucknow — A Retail Landmark
Launched in 2005, Sahara Ganj Mall was one of the first modern shopping malls in Lucknow. Spread across multiple floors, it houses:
- Popular Indian and international retail brands
- Multiplexes and dining spaces
- A steady footfall of shoppers from across the city
The mall, however, has faced scrutiny from the Lucknow Development Authority (LDA) for pending government dues. If acquired, Adani could rebrand and revitalize this property as part of its growing retail real estate portfolio.
Also Read: Gautam Adani House: Address | Price | Net Worth | Trending News
Why Is Adani Group Interested in Sahara’s Properties?
Adani Realty’s expansion strategy has been sharply focused on acquiring or redeveloping prime land parcels across major Indian cities. The potential Sahara deal aligns with this long-term vision.
In recent years, Adani has taken up several marquee projects, including:
- Dharavi Redevelopment Project (Mumbai) – One of Asia’s largest slum transformation initiatives.
- Motilal Nagar Redevelopment (Goregaon, Mumbai) – A 400-acre mixed-use township plan.
- Bandra Reclamation Redevelopment (Mumbai) – A ₹30,000 crore project over 24 acres with 45 lakh sq. ft. of potential development area.
Additionally, Adani has been in discussions to collaborate with Emaar India and already owns significant land holdings near the Navi Mumbai International Airport (NMIA) — inaugurated earlier this year by Prime Minister Narendra Modi.
These moves reflect Adani’s ambitions to become a dominant force in India’s luxury real estate and infrastructure ecosystem.
Adani Realty — 15 Years of Real Estate Legacy
Founded in 2010, Adani Realty has developed over 24 million sq. ft. and has 61 million sq. ft. under development, according to its official website. The company operates across residential, commercial, and retail segments in Mumbai, Ahmedabad, Pune, and Gurugram.
Its entry into Sahara’s high-value portfolio could accelerate its growth trajectory and significantly enhance its pan-India footprint.
Also Read: Congress Says Govt Gave 1,050 Acres of Bihar Land to Adani for Just ₹1 a Year
What Lies Ahead?
The Supreme Court’s verdict will determine whether this potential ₹12,000-crore deal proceeds. If approved, it will not only help Sahara repay its investors but also strengthen Adani Group’s position as a key player in India’s evolving real estate landscape.
For now, all eyes are on November 17, 2025, when the next hearing could define the fate of these iconic Indian properties.
In a significant development that could reshape India’s luxury real estate landscape, the Adani Group may soon acquire several landmark properties owned by the financially troubled Sahara Group.
A subsidiary of Sahara India Commercial Corporation Ltd (SICCL) has approached the Supreme Court (SC) seeking approval to sell 88 premium assets to Adani Properties Pvt Ltd, with the deal estimated at ₹12,000 crore. The proceeds are intended to settle long-pending investor dues as per directions from the apex court.
The SC has scheduled a hearing for November 17, 2025, directing the Ministry of Finance, Ministry of Corporate Affairs, and SEBI to file their responses on the matter.
Also Read: Adani Realty to Launch ₹10,000 Cr Mega Township Near Navi Mumbai Airport
The Backdrop — The Decade-Long Sahara-SEBI Saga
The case stems from a 2012 Supreme Court order mandating Sahara Group entities to refund over ₹24,000 crore raised through optionally fully convertible debentures (OFCDs), along with 15% annual interest, to investors via SEBI.
To date, Sahara claims to have deposited around ₹16,000 crore, though SEBI maintains ₹9,000 crore remains outstanding, as reported by Mint.
The sale of assets to the Adani Group is viewed as a crucial step in fulfilling these obligations.
Inside the Potential ₹12,000-Crore Deal: 4 Iconic Sahara Assets Adani May Acquire
If the Supreme Court grants permission, Adani could gain control over some of the most prestigious real estate holdings in India. Here’s a look at four key properties likely to be part of this mega-deal.
1. Aamby Valley City, Maharashtra — A World of Its Own
Spread across 10,000 acres near Lonavala, Aamby Valley City is one of India’s earliest and most ambitious luxury townships. Conceived by the Sahara Group in the mid-1990s, it transformed barren land into a self-contained premium township featuring:
- High-end villas and chalets
- An airstrip and private airport
- A championship golf course
- Lakes, restaurants, and recreational spaces
It remains a favorite getaway for celebrities, business elites, and professional golfers. For Adani Realty, acquiring Aamby Valley could mark its entry into India’s luxury township market.
2. Hotel Sahara Star, Mumbai — Gateway to Glamour
Standing tall opposite Terminal 1 of Mumbai’s Chhatrapati Shivaji Maharaj International Airport, Hotel Sahara Star is among Mumbai’s best-known five-star hotels.
- Features over 300 rooms and 20+ luxury suites
- Known for its distinctive dome structure and tropical lagoon
- Continues to maintain high occupancy due to its prime airport location
Operational since the early 2000s, this asset could be a strategic addition to Adani’s hospitality portfolio, offering both visibility and steady income.
3. Sahara Shaher, Lucknow — The Iconic Private Enclave
Located in Gomti Nagar, Sahara Shaher spans nearly 170 acres and was once a symbol of opulence in Lucknow. It was designed to include:
- Luxury villas and residences
- A helipad, theatres, and auditoriums
- Exclusive guesthouses for dignitaries and celebrities
However, the property recently made headlines when the Lucknow Municipal Corporation (LMC) sealed all six of its gates over alleged lease violations. The land, leased to Sahara India Commercial Corporation Ltd in 1995, has since been contested.
Despite the ongoing dispute, Sahara has sought SC’s approval to include this complex in the proposed sale.
4. Sahara Ganj Mall, Lucknow — A Retail Landmark
Launched in 2005, Sahara Ganj Mall was one of the first modern shopping malls in Lucknow. Spread across multiple floors, it houses:
- Popular Indian and international retail brands
- Multiplexes and dining spaces
- A steady footfall of shoppers from across the city
The mall, however, has faced scrutiny from the Lucknow Development Authority (LDA) for pending government dues. If acquired, Adani could rebrand and revitalize this property as part of its growing retail real estate portfolio.
Also Read: Gautam Adani House: Address | Price | Net Worth | Trending News
Why Is Adani Group Interested in Sahara’s Properties?
Adani Realty’s expansion strategy has been sharply focused on acquiring or redeveloping prime land parcels across major Indian cities. The potential Sahara deal aligns with this long-term vision.
In recent years, Adani has taken up several marquee projects, including:
- Dharavi Redevelopment Project (Mumbai) – One of Asia’s largest slum transformation initiatives.
- Motilal Nagar Redevelopment (Goregaon, Mumbai) – A 400-acre mixed-use township plan.
- Bandra Reclamation Redevelopment (Mumbai) – A ₹30,000 crore project over 24 acres with 45 lakh sq. ft. of potential development area.
Additionally, Adani has been in discussions to collaborate with Emaar India and already owns significant land holdings near the Navi Mumbai International Airport (NMIA) — inaugurated earlier this year by Prime Minister Narendra Modi.
These moves reflect Adani’s ambitions to become a dominant force in India’s luxury real estate and infrastructure ecosystem.
Adani Realty — 15 Years of Real Estate Legacy
Founded in 2010, Adani Realty has developed over 24 million sq. ft. and has 61 million sq. ft. under development, according to its official website. The company operates across residential, commercial, and retail segments in Mumbai, Ahmedabad, Pune, and Gurugram.
Its entry into Sahara’s high-value portfolio could accelerate its growth trajectory and significantly enhance its pan-India footprint.
Also Read: Congress Says Govt Gave 1,050 Acres of Bihar Land to Adani for Just ₹1 a Year
What Lies Ahead?
The Supreme Court’s verdict will determine whether this potential ₹12,000-crore deal proceeds. If approved, it will not only help Sahara repay its investors but also strengthen Adani Group’s position as a key player in India’s evolving real estate landscape.
For now, all eyes are on November 17, 2025, when the next hearing could define the fate of these iconic Indian properties.
