Pharma Entrepreneur Suresh Pareek Invests ₹190 Crore in Mumbai Luxury Apartments
Suresh Pareek, founder of the pharmaceutical firm Ideal Cures, and his wife, Veena Pareek, have jointly acquired two ultra-luxury residential apartments in the prime locality of Worli, Mumbai. The total consideration for these apartments is ₹190 crore, as recorded on December 24, 2025, according to documentation from the real estate analytical platform Zapkey.com.
The two apartments are situated on the 43rd floor of the luxury residential building Raheja Artesia, a project developed by K Raheja Corp. Together, the apartments cover a RERA Carpet Area of over 12,000 sq. ft., making this the largest residential deal recorded recently in the Worli area. The apartments were bought at a rate of around ₹1.56 lacs per sq. ft., highlighting the strong demand in Mumbai's ultra-luxury real estate market.
The sellers of the two apartments are Chandru Raheja, the chairman of K Raheja Corp, and Jyoti Raheja, as per the registration details. These units come equipped with two balconies measuring over 1,100 sq ft and two open terraces measuring over 700 sq ft, offering unobstructed views of the city. The sale also included 10 car parking spaces, further emphasizing the magnitude of this transaction.
The acquisition involved a stamp duty of more than ₹11 crores and a registration charge of ₹60,000, mandatory according to the norms in Maharashtra for property registration. Despite multiple attempts, neither K Raheja Corp nor Ideal Cures responded to queries about the sale. Suresh Pareek and Veena Pareek were also not available for comment at the time of publication.
Suresh Pareek is a well-known venture capitalist and entrepreneur, having founded Ideal Cures Pvt Ltd, a manufacturer of healthcare-related excipients. He exited the company in 2022 with 16 patents to his name. This is not the first significant real estate investment Pareek has made in Mumbai. In 2022, he purchased a sea-facing luxury flat in Worli for over ₹64.57 crores, indicating a continued interest in the city's luxury housing market.
This transaction reflects a growing trend of pharmaceutical entrepreneurs and executives making substantial investments in Mumbai's luxury housing segment. According to Zapkey data, India's ultra-luxury residential market saw transactions worth over ₹7,100 crore across 51 marquee deals in 2025, with Mumbai accounting for a significant share. In 2025, the Indian ultra-luxury real estate sector witnessed one of its best years ever, with more than ₹7,100 crore being spent on 51 marquee deals in the residential segment. Out of these, the sales of around ₹1,530 crore in the Mumbai market were attributed to the pharmaceutical sector.
Industry experts note that the post-pandemic wealth creation, combined with real estate's appeal as both a store of value and a status symbol, continues to attract high-net-worth individuals to Mumbai's top residential addresses. The robust performance of the ultra-luxury real estate market in Mumbai is a clear indicator of the growing confidence and investment potential in this segment.
