Mumbai's luxury real estate sector has shattered all previous records. A stunning transaction in Worli has redefined what premium means in India's property market.
The Record-Breaking Deal
Leena Tewari, chairperson of pharmaceutical giant USV, made headlines with her extraordinary purchase. She acquired two ultra-luxury sea-facing duplex apartments for ₹639 crore. Including taxes, the total jumped to ₹703 crore - setting a new national benchmark.
The effective price? Nearly ₹2.83 lakh per square foot. This figure represents the highest residential property rate ever recorded in India.
Worli's Premium Appeal
Why does Worli command such astronomical prices? The locality offers unmatched advantages that wealthy buyers find irresistible.
Endless sea-facing views stretch endlessly. Connectivity to Mumbai's business districts remains excellent. This neighbourhood hosts some of India's most exclusive residential towers.
Other Notable Transactions
Tewari wasn't alone in making massive investments. Uday Kotak, founder of Kotak Mahindra Bank, invested ₹424.24 crore in February 2025. He purchased 23 units in Shri Shiv Sagar CHS, also in Worli.
The highest per square foot rate in Kotak's deal reached ₹2.89 lakh. These transactions show that ultra-luxury demand remains robust despite broader market uncertainties.
Market Implications
These deals signal several important trends. Ultra-high-net-worth individuals continue investing in premium Mumbai real estate. Worli has emerged as the undisputed king of luxury residential markets.
Property prices are increasing at an unparalleled rate compared to neighboring cities. This market segment shows no signs of slowing down. Instead, they are pushing boundaries that seemed impossible just a few years ago.
Looking Forward
Experts believe more record-breaking deals await. Mumbai's luxury market attracts global attention, and Worli leads this charge. For investors and industry watchers, these transactions represent more than just numbers - they showcase India's growing wealth concentration and appetite for ultra-premium assets.