Indian Billionaire's Family Buys Two Ultra-Luxurious Apartments in Mumbai for Rs 130 Crore
Mumbai's real estate market saw a significant boost in 2024, with a 11% increase in property registrations. Among the notable transactions was the purchase of two luxurious apartments by the family of Dilip Shanghvi, the founder of Sun Pharmaceuticals, fo
Mumbai Real EstateLuxury ApartmentsDilip ShanghviNaman XanaReal Estate MarketReal EstateJan 05, 2025
This was the highest number of properties registered in the city in 13 years.
The premium residential segment, particularly properties worth over Rs 2 crore, saw a notable uptick, accounting for 23% of registrations in December 2024, up from 18% in December 2023.
One of the most significant transactions was the purchase of two ultra-luxurious apartments by the family of an Indian billionaire for Rs 130 crore.
Vibha Shanghvi, the wife of Sun Pharmaceuticals chairman Dilip Shanghvi, bought two luxury apartments in the Worli area of Mumbai for Rs 130 crore.
These apartments are part of the Naman Xana project by the Naman Group, a premium residential tower located in Worli.
The two apartments have a combined carpet area of 12,916 square feet and come with eight car parking spaces.
Purchased at a rate of Rs 1 lakh per square foot, each apartment spans 6,458 square feet.
The first apartment, situated on the 21st floor, was purchased for Rs 65 crore and registered on November 27, 2024.
The second apartment, located on the 29th floor, was also purchased for Rs 65 crore and registered on December 26, 2024.
Mrs.
Shanghvi paid a total stamp duty of Rs 6.50 crore for the registration of both apartments.
Who is Dilip Shanghvi?
Dilip Shanghvi is the founder of Sun Pharmaceuticals, one of India’s most prominent pharmaceutical companies.
Established in 1983 and headquartered in Mumbai, Sun Pharma is India’s largest pharmaceutical company, operating in over 100 countries.
The company manufactures and sells medicines and active pharmaceutical ingredients, generating an annual revenue of around $5.3 billion (approximately Rs 45,000 crore).
Sun Pharmaceuticals is also India’s most valuable publicly listed pharmaceutical firm, according to Forbes.
Dilip Shanghvi himself is one of India’s wealthiest individuals, ranked 59th in the world with a net worth of $29.8 billion (approximately Rs 2.5 lakh crore).
He is married to Vibha Shanghvi, and together they have two children, Aalok and Vidhi, both of whom hold high-ranking positions within Sun Pharmaceuticals.
Naman Group
The Naman Group is a renowned real estate developer in Mumbai, known for its premium residential and commercial projects.
The Naman Xana project, located in Worli, is one of their flagship developments, offering luxurious living in one of the city's most sought-after areas.
The project features top-tier amenities, including world-class security, state-of-the-art facilities, and prime views of the city skyline.
Frequently Asked Questions
How many property registrations were there in Mumbai in 2024?
Mumbai's real estate market witnessed 1,41,202 property registrations in 2024.
How much did Vibha Shanghvi pay for the two apartments in Worli?
Vibha Shanghvi paid a total of Rs 130 crore for the two ultra-luxurious apartments in the Naman Xana project.
What is the current net worth of Dilip Shanghvi?
According to Forbes, Dilip Shanghvi's net worth is $29.8 billion (approximately Rs 2.5 lakh crore).
What is the annual revenue of Sun Pharmaceuticals?
Sun Pharmaceuticals generates an annual revenue of around $5.3 billion (approximately Rs 45,000 crore).
What is the Naman Xana project?
The Naman Xana project is a premium residential tower located in Worli, Mumbai, developed by the Naman Group. It offers luxurious living with top-tier amenities and prime views of the city skyline.
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