Mumbai’s luxury real estate market has set a staggering new benchmark with USV Pharma’s chairperson, Leena Gandhi Tewari, purchasing two sea-facing duplexes in Worli for ₹639 crore. Including stamp duty and GST, the total transaction value reaches ₹703 crore, the most expensive residential deal in India.
Located in Naman Developers’ Naman Xana tower, the duplexes span 22,572 sq. ft. across the 32nd to 35th floors, priced at over ₹2.83 lakh per sq. ft., surpassing even Malabar Hill’s elite rates. The deal highlights soaring demand from pharma magnates post-COVID, with experts noting a trend of ultra-HNIs splurging on trophy homes.
This follows other high-profile buys, including Uday Kotak’s ₹400-crore acquisition of an entire Worli building and Sun Pharma’s Dilip Shanghvi’s family purchasing ₹130-crore apartments nearby.
Worli’s sea views and scarcity of premium inventory are driving record deals, said Ritesh Mehta of JLL India. However, analysts caution that while such transactions redefine luxury benchmarks, broader market sustainability remains uncertain.
With pharma wealth fuelling Mumbai’s high-end real estate boom, Worli is now the new hotspot for India’s ultra-rich.
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