Leena Gandhi Tewari, chairperson of pharmaceutical company USV, has set a new benchmark in India's luxury real estate market by purchasing two ultra-luxury sea-facing duplex apartments in Mumbai for a total transaction value of ₹703 crore. The transaction is one of the most expensive residential property transactions ever in India.
The record-breaking purchase is in Mumbai’s prestigious Worli Sea Face area, one of the city’s most prestigious residential neighborhoods. The two duplex apartments are in the luxury residential tower Naman Xana with panoramic views of the Arabian Sea and world-class facilities.
According to reports, the apartments were purchased for a base consideration of around ₹639 crore, while stamp duty and taxes (including GST) increased the total transaction value to about ₹703 crore.
The transaction is one of the highest in terms of the per-square foot transaction prices (it was valued at nearly ₹3 lakh per square foot (around ₹2.83 lakh per sq. ft.), which is one of the highest residential property rates in India.
The duplex homes are reported to be high quality, with large living spaces, private facilities and uninterrupted sea views, a sign of the increasing demand for ultra-premium homes among India’s wealthiest people. The purchase only further strengthens Mumbai’s reputation as one of the country’s top luxury real estate destinations.
Leena Gandhi Tewari is one of India’s most powerful business leaders and heads USV, a leading pharmaceutical company with diabetes, cardiovascular, and other therapeutic expertise. Her latest purchase shows once again how rich and powerful Indian billionaires want trophy properties for themselves.
The deal also underscores the continued success of Mumbai’s high-end residential market. Many multi-crore luxury transactions have come to light in the past years by industrialists, business families and high-net-worth individuals. But the ₹703 crore deal is now the country’s biggest residential property transaction.
Real estate experts say India’s luxury housing market continues to enjoy the buoyant wealth creation, huge demand for high-end properties, and limited availability of high-end sea-facing residences in major city areas like Worli, Malabar Hill and Altamount Road. Large homes with world-class touches, privacy and landmark locations are still very attractive to high-net worth buyers.
The record-breaking acquisition also demonstrates growing confidence in the premium real estate sector in India, where landmark deals are still transforming property values. Demand for luxury residences in Mumbai is expected to be very strong given the rising wealth, business development and increasing investment in high-value real estate.
With this historic purchase, Leena Gandhi Tewari has set a new benchmark in India’s residential property market and cemented Mumbai as the country’s top-flight location for ultra-luxury real estate.
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