USV's Leena Tewari Acquires Rs 639-Crore Duplexes in Worli; Godrej's Dubash Follows Suit
In a landmark residential real estate deal, USV Pharmaceuticals chairperson Leena Gandhi Tewari has purchased two ultra-luxury duplex apartments in Worli, Mumbai, for Rs 639 crore. Godrej's Tanya Dubash also acquires a flat for Rs 225 crore, highlighting the robust luxury housing market in Mumbai.
Real EstateLuxury HousingMumbaiHighnetworth IndividualsNaman XanaReal Estate NewsMay 30, 2025
The transaction, including stamp duty and GST of Rs 63.90 crore, pushes the total deal value to Rs 703 crore. It was registered on May 28, according to property registration records.
Leena Tewari, who chairs the privately held USV and is among India’s wealthiest with a net worth exceeding $3 billion, is the granddaughter of the company’s founder, Vithal Gandhi. Her husband, Prashant Tewari, is USV’s managing director, and their children, Aneesha and Vilas, are also part of the company’s board.
The Naman Xana development, a 40-storey luxury tower, is positioned in Mumbai’s super-premium market segment. Apart from sweeping views of the Arabian Sea, it benefits from enhanced connectivity via the newly opened Coastal Road.
The project has drawn other prominent buyers. Tanya Dubash, daughter of Godrej Industries chairman Adi Godrej, also acquired a duplex in the same building for around Rs 225 crore, at a rate of approximately Rs 2.20 lakh per sq ft. Her deal was registered on May 26.
These high-value transactions reflect ongoing strength in Mumbai’s luxury housing market. In recent months, the city has witnessed several mega deals, including two apartments at 360 West in Worli purchased by the Kabra family of RR Kabel for nearly Rs 200 crore, and a Rs 405 crore acquisition by Metro Brands’ promoters at Palais Royale in Lower Parel, for a property measuring over 38,000 sq ft. Similar top-tier transactions have occurred at Lodha Malabar and other luxury developments across South Mumbai.
Despite economic uncertainties, the luxury real estate market in Mumbai continues to attract significant investments from high-net-worth individuals, driven by the city’s strategic location, infrastructure improvements, and the prestige associated with owning property in prime locations. The Naman Xana project, with its prime location and luxury amenities, is a testament to the enduring appeal of Mumbai’s high-end real estate market.
Frequently Asked Questions
Who is Leena Gandhi Tewari?
Leena Gandhi Tewari is the chairperson of USV Pharmaceuticals, a privately held company. She is among India’s wealthiest individuals with a net worth exceeding $3 billion and is the granddaughter of USV’s founder, Vithal Gandhi.
What is the Naman Xana project?
The Naman Xana project is a 40-storey luxury tower located in Worli, Mumbai. It is positioned in the super-premium market segment and offers sweeping views of the Arabian Sea along with enhanced connectivity via the newly opened Coastal Road.
How much did Tanya Dubash pay for her duplex in Naman Xana?
Tanya Dubash, daughter of Godrej Industries chairman Adi Godrej, acquired a duplex in the Naman Xana project for around Rs 225 crore, at a rate of approximately Rs 2.20 lakh per sq ft.
What is the significance of these high-value transactions in Mumbai's real estate market?
These high-value transactions reflect the ongoing strength and appeal of Mumbai’s luxury housing market. They highlight the city’s ability to attract significant investments from high-net-worth individuals, driven by factors such as strategic location, infrastructure improvements, and prestige.
What other notable luxury real estate deals have been made in Mumbai recently?
Recent notable deals in Mumbai include two apartments at 360 West in Worli purchased by the Kabra family of RR Kabel for nearly Rs 200 crore, and a Rs 405 crore acquisition by Metro Brands’ promoters at Palais Royale in Lower Parel, for a property measuring over 38,000 sq ft.
Related News Articles
Raymond's Bold Move: Betting Big on Indian Realty Boom with Rs 5,000-Crore Joint Ventures
Raymond is poised to sign massive joint ventures in Indian real estate, capitalizing on the sector's rapid growth. Mumbai, a key market, witnessed a 27% increase in residential sales in Q1 CY24, driving up property prices.
Massive Infrastructure Delays: 458 Projects Hit by Cost Overrun of Rs 5.71 Lakh Crore in May 2024
India's infrastructure sector is grappling with massive delays, with 458 projects worth Rs 150 crore or more experiencing cost overruns of over Rs 5.71 lakh crore in May 2024.
LTCG Tax Tweaks to Boost Housing Sales and Investments
Real Estate, Realty, Housing
Rexas Finance: Bridging the Gap Between Cryptocurrency and Real Estate
Rexas Finance (RXS) is leading the way in integrating cryptocurrency with real estate, offering new and exciting investment opportunities for a broader range of investors.
Mumbai Property Registrations Dip 14% in September 2024, Blamed on Shraadh Period
The Shraadh period, a significant cultural observance in Hindu tradition, has notably impacted the real estate market in Mumbai, leading to a 14% drop in property registrations in September 2024.
India's Luxury Real Estate Market Surges 37.8% in 2024
The luxury real estate market in India is witnessing robust growth, particularly in metropolitan areas such as Delhi-NCR, Mumbai, and Hyderabad. High-net-worth individuals (HNIs) are driving this surge, showing a strong preference for high-end homes with