Pharma Wealth Boosts Mumbai Real Estate: Blue Jet Healthcare Promoter Buys Luxurious Worli Apartments
The promoter of Blue Jet Healthcare and his family have acquired three high-end apartments in Worli, Mumbai, for over ₹202 crore, reflecting the growing investment in luxury real estate by pharmaceutical tycoons.
Mumbai Real EstateLuxury ApartmentsBlue Jet HealthcarePharmaceutical WealthWorliReal Estate NewsAug 08, 2025
Akshay Bansarilal Arora, the promoter of Blue Jet Healthcare, bought two units in the super-luxury skyscraper Palais Royale from Honest Shelters Pvt Ltd. Each apartment measures 7,669 square feet and comes with five car parking spaces. The units were purchased for ₹57.14 crore each, totaling ₹114.28 crore for both properties.
In a separate deal, Shiven Akshay Arora, a family member, acquired a 7,747 square foot apartment in Raheja Artesia, Worli, for ₹88 crore. The residence includes six parking spaces, according to the property registration documents accessed by Zapkey.
Worli, located in central Mumbai, has become a hotspot for luxury real estate projects, following the trend set by other prime locations such as South Mumbai, Lower Parel, Prabhadevi, and Bandra. The area is known for its projects priced above ₹1 lakh per square foot, making it a preferred choice for high-net-worth individuals and corporate leaders.
The pharmaceutical sector has been a significant contributor to the luxury real estate market in Mumbai. Notable transactions include the purchase of two luxury sea-facing duplex apartments in Worli by USV’s chairperson, Leena Gandhi Tewari, for ₹639 crore. The total value of the transaction, including stamp duty and GST, reached approximately ₹703 crore, marking it as the most expensive residential property deal in the country.
The Zydus Family Trust, associated with Zydus Lifesciences Limited, also purchased a ₹200 crore luxury apartment in Mumbai's Worli earlier this year. Last year, Vibha Shanghvi, the wife of Dilip Shanghvi, chairman and managing director of Sun Pharma, bought two apartments in Worli for ₹130 crore.
Real estate experts attribute the surge in luxury housing demand to the post-COVID wealth surge, which has prompted many pharmaceutical promoters and executives to view high-end properties as both a secure investment and a status symbol. “Pharma wealth is increasingly flowing into real estate,” said industry experts, highlighting the trend of pharmaceutical tycoons investing in luxury properties in Mumbai’s most coveted areas.
This trend not only reflects the growing economic power of the pharmaceutical sector but also indicates the confidence in Mumbai’s real estate market, particularly in the luxury segment. The acquisition of these high-end properties by the Blue Jet Healthcare promoter family is a clear indication of the ongoing shift in investment patterns and the attraction of Mumbai’s prime real estate locations for high-net-worth individuals.
Frequently Asked Questions
Who recently purchased luxury apartments in Worli, Mumbai?
The promoter of Blue Jet Healthcare, Akshay Bansarilal Arora, and his family member, Shiven Akshay Arora, have recently purchased luxury apartments in Worli, Mumbai, for over ₹202 crore.
What are the details of the properties bought by the Blue Jet Healthcare promoter family?
Akshay Bansarilal Arora bought two 7,669 sq ft units in Palais Royale for ₹57.14 crore each, totaling ₹114.28 crore. Shiven Akshay Arora purchased a 7,747 sq ft apartment in Raheja Artesia for ₹88 crore.
Why is Worli a popular location for luxury real estate in Mumbai?
Worli is a prime location in central Mumbai, known for its high-end real estate projects priced above ₹1 lakh per sq ft. It has become a hotspot for luxury properties, attracting high-net-worth individuals and corporate leaders.
What other pharmaceutical companies have invested in luxury real estate in Mumbai?
Other pharmaceutical companies that have invested in luxury real estate in Mumbai include USV, Zydus Lifesciences, and Sun Pharma. Notable transactions include the purchase of properties by USV’s chairperson, Leena Gandhi Tewari, and the Zydus Family Trust.
What factors are driving the increase in luxury real estate demand in Mumbai?
The increase in luxury real estate demand in Mumbai is driven by the post-COVID wealth surge, particularly in the pharmaceutical sector. High-net-worth individuals view high-end properties as secure investments and status symbols.
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