Godrej Scion Tanya Dubash's Firm Acquires ₹226 Crore Duplex in Worli's Ultra-Luxury Tower Naman Xana
Bengaluru: 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, has acquired a duplex apartment for ₹225.76 crore in Mumbai’s ultra-luxury tower, Naman Xana. This marks yet another record-breaking deal for the developer of Naman Xana in Worli in recent months. Earlier this year, Leena Gandhi Tiwari, chairperson of pharmaceutical firm USV Ltd, bought a 22,572 square feet space in the 40-storey under-construction tower for ₹639 crore.
Shaula Real Estates' transaction was registered in May, according to registration documents accessed by Square Yards, a real estate data platform. The 11,485 sq ft apartment was a primary sale and was purchased from Naman Residency Pvt Ltd and Karp Estate Pvt Ltd. Based on the total transaction value of ₹225.76 crore, the per square foot rate works out to around ₹1.97 lakh per sq ft.
Besides Dubash, the daughter of Adi Godrej, chairman emeritus of Godrej Group, Shaula Real Estates has Clement George Pinto, chief financial officer and head of finance at Godrej Industries Ltd (chemicals), as a director. The firm was registered in March this year. A Godrej Industries spokesperson declined to comment on the matter.
With average property prices in Worli hovering around ₹1.20 lakh per sq. ft. or higher, the ‘Naman Xana’ project commands a premium due to its sea-facing location, expansive layouts, and proximity to key infrastructure such as the Bandra-Worli Sea Link and the newly operational Mumbai Coastal Road, according to a Square Yards spokesperson.
The ‘Naman Xana’ project, being developed by city builder Shree Naman Group, is spread over 0.64 acres and is scheduled for completion by 2027. In 2024, ten 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, worth ₹4,862 crore, were sold in Worli in 2023 and 2024, according to Anarock Property Consultants.
In December, Seema Singh, part of the promoter group of Alkem Laboratories, bought an apartment in the under-construction ‘Lodha Sea Face’ project for ₹185 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,’ said Fatima Saidi, head-luxury residential (Mumbai) at Anarock Property Consultants. ‘Besides the prime location, high demand for such exclusive homes, and limited supply are driving up the prices, and developers can command a premium for these projects.’
