Leena Tewari's Luxurious Duplex Purchase Signals Shift in Mumbai's Real Estate Market

In Mumbai’s ultra-luxury real estate market, a quiet transformation is unfolding, and it’s being led by women. At Naman Xana, an upscale 40-storey residential tower nestled in Worli, a series of high-value transactions has caught the city’s attention. These transactions are notable not just for their eye-popping price tags but for the profile of the buyers: accomplished women entrepreneurs and corporate leaders.

As per the documents available, on May 28, Leena Tewari, chairperson of multinational pharmaceutical giant USV Ltd, made headlines by purchasing two sprawling duplexes located on the 32nd to 35th floors in the tower. Each of the apartments spans over 1,048.5 sq m and comes with six separate parking spots. Tewari paid a stamp duty of Rs159.75 crore for each unit, while the total transaction value stands at a staggering Rs 639 crore, placing it among the most expensive residential deals in the country.

Before her, Tanya Dubash, executive director and chief brand officer at the Godrej Group, purchased another duplex in the same tower for around Rs225.8 crore. Their purchases mark a notable shift in a sector traditionally dominated by male buyers.

Set on a prime corner plot with two adjoining roads and offering panoramic sea views, the duplexes at Naman Xana come with all the hallmarks of opulence. These include double-height ceilings, expansive living spaces, and grandeur. These exclusive homes are part of just 16 units in the project, most of which have already been sold.

The project is being developed by Shree Naman Group, a name well-established in Mumbai's high-end real estate market, including projects in the BKC. The developer now plans to expand its footprint across the city. The company spokesperson was not available for a comment.

This trend of women leading high-value real estate transactions is not just a sign of changing times but also a reflection of the growing economic power and influence of women in corporate and entrepreneurial roles. As more women rise to leadership positions, their impact on various sectors, including real estate, is becoming increasingly evident.

The rise of women in luxury real estate is not just a local phenomenon but a global one. In cities around the world, women are making significant strides in the real estate market, driving demand for high-end properties and setting new benchmarks for luxury living. This shift is likely to continue as more women enter the upper echelons of business and society, bringing with them a new wave of investment and innovation in the real estate sector.

In conclusion, the recent purchases by Leena Tewari and Tanya Dubash at Naman Xana are more than just high-value transactions; they are a symbol of the changing dynamics in the real estate market. As women continue to break barriers and shatter glass ceilings, their influence on the luxury real estate market is set to grow, shaping the future of luxury living in Mumbai and beyond.