Rs 639 Crore for Two Duplexes: Mumbai’s Worli Sets New Record in Luxury Real Estate
Mumbai’s luxury real estate market has just set another record, with two sea-facing duplex apartments in Worli being sold for Rs 639 crore. This marks India’s most expensive residential apartment sale to date.
Luxury Real EstateMumbaiWorliNaman XanaHighend PropertyReal EstateMay 29, 2025
Leena Gandhi Tewari, chairman of a pharma company Ltd, has purchased the two ultra-luxury units on floors from 32 to 35 at a cost of Rs 2.83 lakh per sq ft on a carpet area basis. The registration was done earlier this week.
According to documents, Tewari shelled out more than Rs 63.9 crore in stamp duty and GST alone, bringing the total payment for the transaction to just short of Rs 703 crore. This transaction underscores the premium value and desirability of Worli’s prime real estate.
Worli, a sea-facing locality in south-central Mumbai, has become a hub of luxury housing and the deal reflects its supremacy in India’s premium residential realty. With panoramic views of the Arabian Sea and proximity to Bandra, Nariman Point, and upcoming infrastructure such as the coastal road and sea link extensions, Worli is still among India’s favorite locations for its elite class.
Earlier this month, banker Uday Kotak hit the headlines after he purchased a whole sea-facing building on Worli Sea Face for more than Rs 400 crore. Some of the apartments in the deal are said to have closed at about Rs 2.90 lakh per sqft, inclusive of land rights.
Mumbai’s real estate market, particularly in the luxury segment, has seen an unprecedented surge in recent months. The city recorded its highest-ever property registrations in April 2024, driven by a mix of investor sentiment, limited supply in premium zones, and growing appetite for signature homes among India’s wealthiest individuals.
Frequently Asked Questions
What is the significance of this sale in Worli?
This sale marks India’s most expensive residential apartment sale to date, reflecting the premium value and desirability of Worli’s prime real estate.
Who purchased the duplex apartments in Worli?
Leena Gandhi Tewari, chairman of a pharma company Ltd, purchased the two ultra-luxury units on floors from 32 to 35 at Naman Xana in Worli.
What is the cost per sq ft for the duplex apartments?
The duplex apartments were sold at a cost of Rs 2.83 lakh per sq ft on a carpet area basis.
What additional costs were incurred in the transaction?
Tewari shelled out more than Rs 63.9 crore in stamp duty and GST alone, bringing the total payment for the transaction to just short of Rs 703 crore.
Why is Worli a popular location for luxury real estate?
Worli is a sea-facing locality in south-central Mumbai with panoramic views of the Arabian Sea, proximity to Bandra, Nariman Point, and upcoming infrastructure such as the coastal road and sea link extensions, making it a favorite location for India’s elite class.
Related News Articles
Gujarat’s Real Estate Market Gets a Boost with GujRERA’s QR Code Initiative
The Gujarat Real Estate Regulatory Authority (GujRERA) has introduced a QR code system to simplify access to real estate project information. This move aims to streamline advertising and improve communication between buyers and developers.
How the Festive Season Influences the Real Estate Market in India
Explore how the festive season impacts real estate trends in India, from increased property sales to new project launches and more.
Rising Interest Rates and Prices Impact Real Estate Demand: Hiranandani Group MD
The Indian real estate sector has seen a decline in affordable housing launches and overall sales in the September quarter of 2024, according to Niranjan Hiranandani, managing director of the Hiranandani Group. In an interview in Mumbai, Hiranandani discu
Emaar India Aims for Rs 5,000 Crore Pre-Sales in FY 24-25
Emaar India has ambitious plans to invest $1.85 billion over the next two years and release around 10 million square feet of real estate, targeting Rs 5,000 crore in pre-sales by FY 24-25.
Real Estate and Offshore Betting Ads Top ASCI's Violation List
A recent analysis by the Advertising Standards Council of India (ASCI) reveals that real estate and offshore betting are the most violative sectors in terms of advertising rules. Healthcare, education, and personal care sectors also featured prominently i
MahaRERA Recovers INR 200 Crore for Homebuyers, Boosts Efforts with Retired Officials
Maharashtra's real estate regulator, MahaRERA, has successfully recovered over INR 200 crore for homebuyers. The authority is employing innovative strategies and leveraging the expertise of retired officials to expedite the recovery of outstanding amounts