USV Chairperson Leena Tewari Sets New Mumbai Real Estate Record with Rs 639 Cr Purchase
Leena Tewari, chairperson of USV Ltd, has made headlines by acquiring two luxury sea-facing duplex apartments in Mumbai’s Worli for a staggering Rs 639 crore, marking the most expensive residential property sale in India.
Leena TewariUsv LtdMumbai Real EstateNaman XanaLuxury ApartmentsReal Estate MumbaiMay 28, 2025
At over Rs 2.83 lakh per sq ft on a carpet basis, the deal sets a new benchmark as the most expensive residential property sale ever recorded in India. Tewari has paid over Rs 63.9 crore towards stamp duty and the Goods & Services Tax (GST) alone for the registration of the transaction, bringing the total cost to nearly Rs 703 crore.
Earlier this month, billionaire banker Uday Kotak set a new national benchmark by finalising the purchase of eight additional apartments, completing the acquisition of an entire residential building on Worli Sea Face for over Rs 400 crore. Some of the transactions concluded by Kotak were closed at a rate of Rs 2.90 lakh per sq ft, but this includes the inclusion of land rights, given that he now owns the entire building.
Mumbai, the country’s largest and most expensive real estate market, has continued its record-setting spree by scaling yet another peak, registering the highest number of property transactions ever recorded in the month of April. The city continues to dominate the country’s real estate market, maintaining its streak of record-breaking transactions backed by unwavering demand from buyers despite steady growth in property prices and the government’s recently announced hike in ready reckoner (RR) rates from April 1.
South and Central Mumbai, home to India’s costliest residences, have been at the forefront of this boom, attracting a string of high-value deals involving industrialists, senior corporate leaders, film stars, and sports icons in recent years. The luxury real estate market in these areas remains robust, driven by the desire for premium living spaces and the prestige associated with owning property in these prime locations.
USV Ltd, a leading player in the pharmaceutical and biotechnology sector, has seen significant growth under Tewari’s leadership. Her acquisition of these luxury duplexes in Worli not only underscores her personal success but also highlights the growing trend of high-net-worth individuals investing in premium real estate in Mumbai. The deal is expected to further fuel the real estate market in the city, setting new standards and expectations for luxury property sales in the future.
Frequently Asked Questions
Who is Leena Tewari?
Leena Tewari is the chairperson of USV Ltd, a multinational pharmaceutical and biotechnology company. She recently made headlines by acquiring two luxury duplex apartments in Mumbai’s Worli for Rs 639 crore.
What is Naman Xana?
Naman Xana is a 40-storey super-premium tower located on Worli Sea Face in Mumbai. The building offers luxury sea-facing apartments and is one of the most sought-after residential projects in the city.
How much did Leena Tewari pay per sq ft for the apartments?
Leena Tewari paid over Rs 2.83 lakh per sq ft on a carpet basis for the two luxury duplex apartments in Naman Xana, making it the most expensive residential property sale in India.
What other notable real estate deals have been made in Mumbai recently?
Billionaire banker Uday Kotak recently completed the acquisition of an entire residential building on Worli Sea Face for over Rs 400 crore, setting a new national benchmark for high-value property transactions.
What factors are driving the luxury real estate market in Mumbai?
The luxury real estate market in Mumbai is driven by the desire for premium living spaces, the prestige associated with owning property in prime locations, and the unwavering demand from high-net-worth individuals despite rising property prices.
Related News Articles
Raymond Invests ₹200 Crore to Boost Garment Manufacturing Capacity
Raymond Limited, a leading Indian textile company, announces a significant investment of ₹200 crore to expand its apparel and garment manufacturing capacity.
India's Emerging Real Estate Hotspots: 17 Cities to Watch
Ayodhya, Varanasi, Puri, and 14 other cities are poised for rapid real estate development driven by spiritual tourism, infrastructure projects, and digitization.
Parel's Real Estate Boom: Insights into June's Top Deals and Trends
L&T Crescent Bay led Parel's real estate market in June with 5 deals, followed by Peninsula Ashok Towers. Get insights into the area's top deals, prices, and trends.
Pune Real Estate Brothers Fall Victim to Rs80.27 Lakh Cryptocurrency Scam
A 26-year-old real estate businessman and his brother from Pune lost Rs80.27 lakh to a cryptocurrency scam, promising 10% monthly returns for five years. Discover how they became victims of cybercrime and what steps they took to report it.
Indian Office Realty Market Reaches Record High in 2024
India's office market witnessed unprecedented growth in 2024, with a record high net absorption and leasing volumes. Key cities like Bengaluru and Mumbai led the surge, driven by strong demand from the tech sector, BFSI, and manufacturing/engineering indu
DLF Plans Rs 20,000 Cr Investment to Expand Commercial Real Estate Business
DLF, a leading real estate developer in India, has announced a significant investment of Rs 20,000 crore over the medium term to expand its commercial real estate portfolio. This move underscores the company's commitment to strengthening its market positi