Blue Jet Healthcare Promoters Acquire Luxury Homes in Mumbai’s Billionaire Street for ₹202 Crore
The promoter family of drugmaker Blue Jet Healthcare has joined Worli’s luxury property rush, snapping up three high-end Mumbai homes for over ₹202 crore amid a wave of record-setting deals in the city’s most expensive real estate strip.
Blue Jet Healthcare chairman Akshay Bansarilal Arora bought two 7,669 sq. ft units with five car parking areas each in the long-delayed Palais Royale for ₹57.14 crore each, while managing director Shiven Akshay Arora picked up a 7,747 sq. ft apartment in Raheja Artesia for ₹88 crore.
The purchases come as Worli’s luxury market scales new peaks, with multiple sales above ₹100 crore in 2024 and marquee projects like Naman Xana attracting billionaire buyers at record prices. Limited supply, prime sea-facing locations, and rising demand are cementing the neighbourhood’s status as Mumbai’s “billionaire street.”
The chairman's property transactions were registered on 3 May, documents accessed by real estate data platform, Zapkey, show. Shiven Akshay Arora's property was registered on 28 July.
While the Palais Royale units were sold by the project developer, Honest Shelters Pvt. Ltd, the Raheja Artesia transaction was a resale deal. The 84-storey Palais Royale, pegged to be the tallest residential tower in India, is still under construction 15 years after groundbreaking. The project has been mired in delays and embroiled in court cases with several buyers even today. It missed another completion deadline in December 2024. Raheja Artesia, on the other hand, is a well-known luxury project by K. Raheja Corp Homes that has been completed and delivered.
Blue Jet Healthcare and Honest Shelters could not be immediately reached for their comment on the transactions. A.K. Raheja Corp's spokesperson did not respond to queries.
In 2024, 10 homes in Worli were sold for over ₹100 crore each, against four such transactions the year before. In total, 30 homes priced above ₹40 crore each, worth a total of ₹4,862 crore, were sold in Worli in 2023 and 2024, according to Anarock Property Consultants.
This year too, Worli has continued to clock big-ticket luxury home sales deals. In May, Shaula Real Estates Pvt. Ltd, which lists Tanya Arvind Dubash, executive director and chief brand officer of Godrej Industries Ltd, as one of its directors, purchased a duplex apartment for ₹225.76 crore in the super luxury tower, Naman Xana.
This follows another record-breaking deal, in which chairperson of pharmaceutical firm USV Ltd Leena Gandhi Tiwari bought a 22,572 sq ft space in the same under-construction tower for ₹639 crore.
Sea-facing, luxury residential projects such as Naman Xana, The Legacy, and Lodha Seaface are creating a new billionaire's street in the heart of Worli. Besides the prime location, high demand for such exclusive homes and limited supply are driving up prices, helping developers command a premium.
