In a landmark transaction that shatters previous records in India’s luxury real estate market, Leena Gandhi Tewari, the prominent chairperson of multinational pharmaceutical and biotechnology firm USV Ltd., has acquired two opulent sea-facing duplex apartments in Mumbai’s highly coveted Worli locality for a staggering Rs 639 crore.
The colossal deal, officially registered on Wednesday (May 28), encompasses a sprawling 22,572 sq ft spread across the 32nd to 35th floors of Naman Xana, an exclusive 40-storey super-premium tower offering panoramic views of the Arabian Sea from Worli Sea Face. At an astounding Rs 2.83 lakh per sq ft on carpet area, this acquisition sets an unprecedented benchmark, becoming the most expensive residential property sale ever recorded in the country.
Documents accessed by SquareFeatIndia reveal that Tewari alone paid over Rs 63.9 crore towards stamp duty and the Goods & Services Tax (GST) for the transaction. Factoring in these substantial charges, the total outflow for these ultra-luxury residences amounts to nearly Rs 703 crore.
This record-setting purchase further cements Worli’s status as a preferred address for India’s billionaires and high-net-worth individuals. The deal comes on the heels of another high-profile transaction earlier this month, where billionaire banker Uday Kotak completed the acquisition of an entire residential building on Worli Sea Face by purchasing eight additional apartments, bringing his total investment to over Rs 400 crore. While some of Kotak’s transactions were finalized at a rate of Rs 2.90 lakh per sq ft, his deal factored in the inclusion of land rights for owning the entire building, a different structure compared to Tewari’s duplex purchase.
The twin duplex apartments in Naman Xana represent the pinnacle of luxury living, underscoring the enduring appeal and escalating value of prime properties in Mumbai’s most exclusive neighborhoods.
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