Founder of Ideal Cures Acquires Two Luxurious Flats in Mumbai's Worli for Rs 191 Crore

The founder of pharmaceutical firm Ideal Cures, Suresh Pareek and Veena S Pareek, have made a significant investment in luxury real estate by acquiring two apartments at the prestigious Raheja Artesia property in Mumbai's Worli neighborhood. The total cost of the deal is Rs 191 crore, making it one of the largest property transactions in Mumbai this year.

The two units, located on the 43rd floor of the building, have a combined carpet area of 12,114 square feet. According to registration documents accessed by Zapkey, the properties have been fully developed and delivered. The sellers of the units were K Raheja Corp chairman Chandru Raheja and his wife Jyoti Raheja. K Raheja Corp, a prominent builder in Mumbai, developed the Raheja Artesia project.

The documents reveal that the deal was registered on December 24, 2025, and includes ten car parks. K Raheja Corp has not commented on the transaction, and Moneycontrol has reached out to Ideal Cures for further details. The story will be updated once a response is received.

This property acquisition is a continuation of the trend where promoters of various firms, both listed and unlisted, are investing significant sums into luxury real estate. In 2022, Suresh Pareek had already purchased an apartment at Raheja Artesia for Rs 64.57 crore. Another notable transaction involved Shiven Akshay Arora of Blue Jet Healthcare, who bought an unit at the property for Rs 88 crore.

The luxury real estate market in Mumbai has seen several high-profile deals in recent years. Last year's record housing transaction was registered by Leena Gandhi Tewari, the promoter of pharmaceutical firm USV, for Rs 639 crore at the under-construction Naman Xana development. Additionally, a firm linked to Tanya Dubhas, the daughter of Godrej Industries chairman emeritus Adi Godrej, bought an apartment at the same development for Rs 226 crore.

These transactions highlight the growing interest of corporate leaders in luxury real estate, driven by factors such as the prestige associated with owning prime properties and the potential for long-term investment returns. The Raheja Artesia project, developed by K Raheja Corp, is a prime example of the high-quality developments that attract such high-profile buyers.

K Raheja Corp, founded by Chandru Raheja, is one of the most prominent real estate developers in Mumbai. The company has a strong track record of delivering luxury residential and commercial projects across the city. The Raheja Artesia, located in the heart of Worli, is a testament to the company's commitment to excellence in real estate development.

The acquisition by Suresh Pareek and Veena S Pareek underscores the continuing confidence in the luxury real estate market, particularly in prime locations like Worli. As the city's real estate landscape continues to evolve, such high-value transactions are expected to remain a significant feature of the market.