Vibha Shanghvi Acquires Two Luxury Apartments in Mumbai's Worli for ₹135 Crore
Vibha Shanghvi, wife of Sun Pharma's CMD Dilip Shanghvi, has purchased two luxury apartments in Worli, Mumbai, for a total of ₹135 crore. The apartments are part of the Naman Xana project on the Worli Sea Face.
Mumbai Real EstateLuxury ApartmentsWorli Sea FaceNaman XanaSun PharmaReal Estate MumbaiDec 30, 2024
According to documents accessed by Zapkey, these apartments, located in the prestigious Naman Xana project, were acquired for a total of ₹135 crore.
The Naman Xana project, developed by the Naman Group, is situated on the Worli Sea Face.
This project is known for its strategic location, offering scenic views of the Bandra-Worli Sea Link, the Mumbai Coastal Road, and the Arabian Sea.
The two apartments, totaling 12,916 sq ft of RERA carpet area, were registered on November 27, 2024, and December 26, 2024, respectively.
Both apartments come with a total of eight car parking spaces, adding to their luxury and convenience.
Worli, a prime location in central Mumbai, has emerged as a hotspot for luxury property developments.
The area is home to several high-end projects, making it a preferred choice for affluent buyers.
Properties in Worli often command prices above ₹1 lakh per sq ft, reflecting the premium nature of the location.
Earlier this month, Neerav Parekh, chairman of Barnsley Football Club, and his mother, Kalpana Parekh, also made significant acquisitions in the same building, purchasing two apartments for a total of ₹170 crore.
This further underscores the appeal of the Worli Sea Face for luxury property investors.
The luxury housing segment in Mumbai, particularly for units priced at ₹4 crore and above, has witnessed a substantial increase in sales.
According to a report by CBRE South Asia Pvt Ltd titled 'India Market Monitor Q3 2024 – Residential,' luxury housing sales increased by almost 37.8% year-over-year during the January to September 2024 period, driven by strong demand.
Worli has become a prime location for luxury projects, following the trend set by South Mumbai, Lower Parel, Prabhadevi, and Bandra.
The area is witnessing a surge in high-end developments, making it an attractive market for both domestic and international investors.
Sun Pharma, one of India's leading pharmaceutical companies, has been under the leadership of Dilip Shanghvi for several decades.
The company is known for its innovation and commitment to healthcare, making it a significant player in the global pharmaceutical industry.
Vibha Shanghvi's recent real estate investment in Worli reflects the financial strength and strategic acumen of the Shanghvi family.
Frequently Asked Questions
Who is Vibha Shanghvi?
Vibha Shanghvi is the wife of Dilip Shanghvi, the chairman and managing director of Sun Pharma, one of India's leading pharmaceutical companies.
What is the Naman Xana project?
Naman Xana is a luxury residential project developed by the Naman Group, located on the Worli Sea Face in Mumbai, offering scenic views of the Bandra-Worli Sea Link and the Arabian Sea.
How much did Vibha Shanghvi pay for the apartments in Naman Xana?
Vibha Shanghvi paid a total of ₹135 crore for the two apartments in the Naman Xana project.
Why is Worli a hotspot for luxury property developments?
Worli, a prime location in central Mumbai, has become a hotspot for luxury property developments due to its strategic location, scenic views, and high-end projects that command premium prices.
What is the significance of the luxury housing segment in Mumbai?
The luxury housing segment in Mumbai, particularly for units priced at ₹4 crore and above, has seen a significant increase in sales, driven by strong demand from affluent buyers and investors.
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