Leena Gandhi Tewari Sets Rs. 639 Cr Record for Mumbai Luxury Flats

Key Highlights

• Record-Breaking Deal: Leena Gandhi Tewari purchased two luxury flats in Mumbai's Worli district for ₹639 crore, setting a record for the most expensive residential property transaction in India.
• Pharma Wealth Fuels Luxury Housing Demand: The deal highlights the growing trend of pharmaceutical industry wealth flowing into high-end real estate, with many families viewing luxury properties as both a financial investment and a status symbol.
• Exclusive Location and Unmatched Views: The duplexes are located in the Naman Xana tower with panoramic sea views, offering luxury living in an area that has become increasingly popular for upscale real estate.

The chairman of drug manufacturer USV, Leena Gandhi Tewari, has purchased two luxury flats overlooking the sea in Mumbai’s Worli district for Rs. 639 crores.

She paid about Rs. 63.9 crore in stamp duty and GST, bringing the cost of the land to Rs. 703 crores. As a result, it became the costliest residential property deal seen in the country. The deal points to a rising demand for expensive housing, mainly from companies in the pharmaceutical industry. Experts say that thanks to the newfound wealth from COVID, many families in the pharmaceutical sector now view high-end homes as both a sound financial decision and an expression of status. “Pharma wealth is increasingly flowing into real estate,” said industry experts.

Tewari’s duplexes are in the same 40-storey Naman Xana tower on Worli Sea Face. There are apartments on floors 32 through 35, taking up a total 22,572 sq. ft. According to registration papers issued on May 28, 2025, the property sells for more than Rs. 2.83 lakh per sq. ft. when measured on the carpeted area. They say the deal has set a record for the highest price paid for a residence in the country.

Also Read: Jagdish Master Buys Luxury Apartment for Rs. 105 crores in Mumbai's Worli

Inside the luxury tower developed by Naman Developers are 16 units: 9 simplex units, 5 duplexes and a penthouse, we were told. The project is on Worli Sea Face next to the Bandra-Worli Sea Link and provides views of the Mumbai Coastal Road and the Arabian Sea. All across the Worli Sea Face, luxury projects are currently being constructed. The area of Worli in Mumbai central has become extremely popular among those wanting luxury projects which has followed after the demands in South Mumbai, Lower Parel, Prabhadevi and Bandra.

According to Ritesh Mehta, senior director and head (North and West), Residential Services and Developer Initiatives at JLL India, “This is a landmark deal for Mumbai real estate. It sets a new benchmark not just in Worli, but across the city. The sea-facing, unobstructed views and nearing completion status make these units highly desirable. However, whether this price is sustainable remains to be seen.”

He explains that there are hardly any luxury sea-facing properties close to completion right now in Mumbai. Because there are so few elegant houses, the price is higher. It is important to note that Rs. 600 crore was personally invested, showing it was not led by investors. The main reason seems to be that HNIs are looking for well-built flats overlooking the sea which are instant moves-in.