In the second-most expensive residential deal in the country, Leena Gandhi Tewari, chairperson of multinational pharma company USV, has bought two duplex apartments in the Worli area of Mumbai for Rs 639 crore.
Tiwari bought the 22,572-square feet sea-facing properties across 32nd-to-35th floors of the 40-storey Naman Xana residential complex. At more than Rs 2.83 lakh per sq ft on a carpet-area basis, this is second-most expensive residential deal in the country in recent years, behind the one made by Kotak Mahindra Bank founder Uday Kotak.
Early this month, Kotak bought eight apartments in 19 Shiv Sagar — a three-storey property in Worli – for Rs 131.55 crore. One of the properties was bought at a rate of Rs 2.89 lakh per sq ft, according to reports. Earlier this year, Kotak bought 12 apartments in the same complex for Rs 201 crore.
Tiwari could not be contacted, while Naman Xana developer Shree Naman Group did not respond to queries on the purchase.
According to sources, Shalu Real Estate, where Godrej Group executive director Tanya Dubash is a director, also bought a duplex apartment of 10,436 sq ft in Naman Xana for Rs 225 crore at around Rs 2.16 lakh per sq ft. The company paid stamp duty and goods and services tax (GST) of Rs 24 crore, they added.
Worli has seen a number of luxury residential deals in the recent years. Last year, Metro Brands promoters bought a property worth Rs 405 crore in Shree Ram Urban Palais Royale.
Radhakrishna Damani family and friends bought apartments worth Rs 1,238 crore in Oberoi 360 West in Worli in 2023.
Luxury real estate is clearly driven by ultra high networth individuals (UHNIs) and HNIs, consultants have said. India accounts for 3.7% of the world’s wealthy individuals, with 85,698 high-net-worth individuals (HNIs), according to Knight Frank’s The Wealth Report 2025. The country ranks fourth globally in the number of HNIs, following the US, China and Japan. The number of Indian HNWIs grew by 6% year-on-year from 80,686 in 2023 to 85,698 in 2024.