Pharma Wealth Drives ₹1,530-Crore Luxury Home Purchases in Mumbai's Real Estate Market

India’s ultra-luxury housing market saw one of its strongest years on record in 2025, with wealthy individuals and entities spending over ₹7,100 crore on 51 marquee residential transactions. Of this, properties worth about ₹1,530 crore in Mumbai had direct links to buyers from the pharmaceutical sector, according to data collated by Zapkey.

The trend highlights a sharp rise in luxury home purchases by pharma entrepreneurs and executives, driven by post-COVID wealth creation and a growing preference for real estate as both a safe haven and a status asset. “Pharma money is clearly flowing into real estate,” said an industry expert.

The highlight of the year was pharmaceutical firm USV chairperson Leena Gandhi Tewari’s purchase of two ultra-luxury sea-facing duplex apartments in Mumbai’s Worli for nearly ₹739 crore, the largest single residential deal ever recorded in India. The apartments are located in Naman Xana, a 40-storey premium tower on Worli Sea Face, and span the 32nd to 35th floors. Together, they cover 22,572 sq ft, with the deal valued at over ₹2.83 lakh per sq ft on carpet area, as per registration documents dated May 28, 2025 shared by Zapkey.

Developed by Naman Developers, Naman Xana is an exclusive project featuring just 16 residences, comprising nine simplex units, five duplexes, and a penthouse. Overlooking the Arabian Sea and the Mumbai Coastal Road, and located close to the Bandra-Worli Sea Link, the project underscores Worli’s growing prominence as Mumbai’s new luxury housing hub. The area has seen a surge in ultra-premium developments, following saturation in traditional hotspots such as South Mumbai, Lower Parel, Prabhadevi, and Bandra.

The deal set a new benchmark not just in Worli but across Mumbai. The sea-facing units, with unobstructed views and nearing completion, made them highly coveted. Ultra-luxury, ready-to-move-in residences of this kind are extremely limited in the city, driving a premium for such exclusive homes. Importantly, the purchase was a personal acquisition rather than an investor-driven deal, highlighting a growing segment of high-net-worth individuals (HNIs) who seek spacious, move-in-ready homes with uninterrupted sea views, according to real estate experts.

Other Notable Pharma-Linked Real Estate Deals in 2025

Another high-profile pharma-linked real estate transaction in 2025 was the Zydus Family Trust’s ₹200 crore purchase at Oberoi Three Sixty West in Mumbai’s Worli. The trust, associated with Zydus Lifesciences Ltd (formerly Cadila Healthcare), acquired a luxury apartment in the project, according to property registration documents. The documents revealed that the deal was subject to a stamp duty of ₹7.04 crore and a registration fee of ₹30,000. The apartment, bought along with eight car parking spaces, was registered on March 27, 2025.

Developed by Oberoi Realty, Oberoi Three Sixty West is a marquee luxury residential project comprising two towers with 4 BHK and 5 BHK apartments, duplexes, and penthouses. The project received its occupation certificate in 2022 and counts several Bollywood celebrities and ultra-high-net-worth individuals among its residents, including actor Shahid Kapoor, DMart founder Radhakrishna Damani, and Everest Masala Group’s promoter.

The year also witnessed a ₹174 crore luxury home purchase in Bandra West by Sarvesh Singh, Executive Director of Alkem Laboratories. According to media reports and a company statement issued in April 2025, real estate developer Supreme Universal concluded the transaction at its flagship ultra-luxury project, Supreme ArtHouse, located on Carter Road. The deal involved a sea-facing duplex apartment spanning 12,148 sq ft and occupying two entire floors of the project.

The year ended with Satish Kumar Singh and Premlata Singh, parents of Alkem Laboratories founder Sandeep Singh, buying a luxury duplex apartment in Mumbai's Bandra for ₹62.81 crore, according to property registration documents accessed by Zapkey.com. The apartment has been purchased in a building on Perry Road, named Evergreen, by S Raheja. The apartment, which spans 4,583 sq ft, features an exclusive terrace and was purchased on the 20th and 21st floors of the building, according to documents. The transaction was registered on December 15, 2025, for which a stamp duty of ₹3.76 crore and a registration fee of ₹30,000 was paid, documents show.

The year also saw Akshay Bansilal Arora of BlueJet Healthcare buying a property in Palais Royale for ₹114.28 crore in Worli and Shiven Arora purchasing a property in Raheja Artesia in the same area for ₹88.04 crore. As per Zapkey data, Sameer Madhukar of EdgePharma purchased a property in Prabhadevi at Hubtown 25 South for ₹76.61 crore. Another transaction was recorded at Skyi’s 5 Aguada project, where Wallace Pharmaceuticals bought a property worth ₹75 crore. These transactions could not be independently verified.