Mumbai's Luxury Real Estate Market Booms as Anand Rathi Wealth Co-Founder Buys ₹131 Crore Apartment
Pradeep Navratna Gupta, Co-Founder and Vice Chairman of Anand Rathi Wealth, has purchased a luxurious 10,538 square feet apartment in the Lodha Sea Face project in Worli, Mumbai, for ₹131 crore. This transaction reflects the robust demand for mid-range luxury properties in the city.
Luxury Real EstateMumbaiHighnetworthProperty InvestmentSeafacing ApartmentReal Estate MumbaiAug 22, 2025
The transaction included seven car parks, with the per square foot rate recorded at ₹1.25 lakh. The registration was completed on August 20, 2025, with a stamp duty of ₹7.90 crore and a registration fee of ₹30,000. The documents show that the sale was conducted under standard property registration procedures.
Lodha Sea Face is a high-rise development in Worli, a prominent luxury residential market in South Mumbai known for its premium apartments and sea-facing views. In the same project, SR Menon Properties LLP had acquired a 14,866 square foot apartment earlier in March 2025 at slightly above ₹1.26 lakh per square foot. According to local brokers, the area has seen multiple luxury apartment transactions ranging from ₹1 lakh to ₹1.60 lakh per square foot in recent years.
The purchase by Pradeep Gupta follows a trend in Mumbai’s luxury real estate segment where units in the ₹10–40 crore range have shown consistent sales, according to India Sotheby’s International Realty and CRE Matrix. While transactions for properties above ₹40 crore have softened in the past year, mid-range luxury units have maintained steady demand.
Earlier this year, Amit Rathi, co-founder of QiCAP.AI, purchased a luxury apartment in India’s tallest building, Palais Royale, for ₹89.91 crore. That unit, located on the 62nd floor, has a built-up area of 7,685 square feet and was acquired at ₹1.17 lakh per square foot.
In addition, Anand Rathi and his family previously added three luxury apartments to their portfolio in Mumbai’s Worli area last year. One of these units in Raheja Artesia was acquired for ₹33.70 crore, spanning 2,964 square feet of RERA carpet area. Two other units in Birla Niyaara Phase 2 were purchased for a combined ₹65.23 crore, each measuring 330.15 square meters. These purchases were registered with corresponding stamp duties and registration fees as per applicable regulations.
Worli continues to be a preferred location for high-net-worth buyers due to its combination of premium infrastructure, connectivity, and sea-facing properties. Several developments in the area, including Lodha Sea Face and Naman Xana, have recorded high per square foot rates in the past, with some units exceeding ₹3 lakh per square foot.
In May 2025, Naman Xana reported the sale of a luxury apartment at nearly ₹3 lakh per square foot, and later, pharmaceutical executive Leena Gandhi Tewari purchased two ultra-luxury duplex apartments in Worli for a total of ₹703 crore, including taxes. This transaction set a national record for the highest-value residential property sale in India, emphasizing the ongoing demand for ultra-luxury properties in central Mumbai.
The recent acquisition by Pradeep Gupta reflects the continued interest of investors and business leaders in Mumbai’s luxury residential segment, particularly in high-rise, sea-facing developments. Analysts suggest that despite fluctuations in the ultra-high-end segment, demand for mid-range luxury apartments remains robust, driven by buyers seeking space, views, and premium facilities within established residential hubs.
Frequently Asked Questions
What is the price of the apartment purchased by Pradeep Gupta?
Pradeep Gupta purchased the apartment for ₹131 crore.
Where is the Lodha Sea Face project located?
The Lodha Sea Face project is located in Worli, Mumbai.
What is the size of the apartment?
The apartment covers 10,538 square feet.
What is the per square foot rate of the apartment?
The per square foot rate of the apartment is ₹1.25 lakh.
Why is Worli a preferred location for high-net-worth buyers?
Worli is preferred for its premium infrastructure, connectivity, and sea-facing properties.
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