Pharma Entrepreneur Suresh Pareek Invests ₹190 Crore in Mumbai Luxury Real Estate
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, for a total consideration of ₹190 crore. According to documentation obtained from the real estate analytical platform Zapkey.com, the deal was recorded on December 24, 2025.
The two apartments are situated on the 43rd floor of the luxury residential building Raheja Artesia, a project of K Raheja Corp. Together, the two apartments comprise a RERA Carpet Area of over 12,000 sq. ft., making it the largest residential deal to be recorded recently within the Worli area. The apartments were bought at a rate of around ₹1.56 lacs per sq. ft., indicating the robust state of the ultra-luxury real estate market in Mumbai.
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 that measure over 1,100 sq ft and two open terraces that measure over 700 sq ft. The unobstructed views from these apartments have become an added necessity in luxury apartments in Mumbai.
The sale also included 10 car parking spaces, highlighting the magnitude of this transaction. The acquisition involved a stamp duty of more than ₹11 crores paid by the buyers and a registration charge of ₹60,000, mandatory according to the norms existing in the state of Maharashtra for property registration.
Suresh Pareek is a venture capitalist and entrepreneur, known for founding Ideal Cures Pvt Ltd, a manufacturer of healthcare-related excipients. From his LinkedIn account, it is evident that Pareek exited the company in 2022, with 16 patents to his name as the inventor. This is not his first major real estate investment in Mumbai; in 2022, he had bought a sea-facing luxury flat in Worli for over ₹64.57 crores.
The transaction adds to a growing trend of pharmaceutical entrepreneurs and executives making big-ticket 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 reflected in the pharmaceutical sector, as revealed by the data collected by Zapkey. Industry experts note that post-pandemic wealth creation, combined with real estate’s appeal as both a store of value and status asset, continues to attract high-net-worth individuals to Mumbai’s top residential addresses.
