The ultra-premium real estate market at Mumbai has hit a new peak in 2025. Worli is again leading this boom and is now known as Billionaire Boulevard of India because of unprecedented transactions that are made. In the spotlight is none other than the chairperson of the USV Pharma, Leena Gandhi Tewari. She has just bought two duplexes facing the sea, in the upmarket Naman Xana tower in Worli. The transaction is 90 million dollars, excluding taxes. The value of the transaction with stamp duty and GST is 703 crore. It is the highest residential deal of India so far.
₹2.83 Lakh Per Sq. Ft: A New Record
- The cost of buying per square foot is outrageous at 2.83 lakh rupees. This price is even higher than that of the elite pricing in Mumbai in Malabar Hill and Altamount Road.
- The duplexes are 22,572 sq. ft. encompassing the 32nd to 35th floors. They provide sea views extending to the top of the Arabian Sea besides providing high quality facilities.
- This is not a one off deal. It is a trend which is the part of the bigger trends as the ultra-luxury dealings in Worli have surpassed Rs 4,862 crore. Prices have soared up by 30 percent in only one year.
Pharma Tycoons Fuel the Luxury Boom
A major driver of this trend is India’s booming pharmaceutical industry, especially post-COVID. Its top players are now investing in trophy real estate assets. Banking mogul Uday Kotak purchased an entire Worli building for ₹400 crore. Dilip Shanghvi’s family, associated with Sun Pharma, recently bought apartments worth ₹130 crore in the same area. These buyers see Mumbai’s top-tier homes not just as residences. They view them as long-term investments and prestige symbols.
Why Worli Is the New Luxury Address?
- The first one is that it has incomparable views over the sea. There are very few places in South Mumbai which continue to provide such wondrous landscape.
- Second, we have a short supply of premium content. Low supply only increases prices.
- Third, the locality is very well connected and very well infrastructured. It is a dream place to live as the Bandra-Worli Sea Link, luxury hotels, and best schools are set in this location.
- Ritesh Mehta of JLL India said the popularity of size among buyers is not on its own merits. They want exclusiveness, status and future worth.
- Mehta says: there is the psychological advantage to the owning of a home at Worli. It is not only a luxury. It’s a legacy.”
Also read: Don’t Buy Property in India Before Reading This Q1 2025 Metro Price Trend Report!
A Market of Contrasts
Though these high profile dealings make noise in the headlines, analysts have encouraged moderation. They state that such transactions show only a niche area. The larger Mumbai property market and particularly the mid and moderately priced segments is yet to stabilise. The increase in price and the amount of transactions in those regions is not very high. According to a property consultant leader, it is a trophy market. It is the top 1 percent, and it must not represent the state of the real-estate world.
Developers Take Note
This rush in demand is being addressed by developers. The Naman Developers, which contracted the record setting sale, is experiencing a flood of requests. Other developers are now looking at redevelopments and sea facing sites in the South and Central Mumbai. It will aim at developing comparable high-end services to the ultra-wealthy. The high-end housing market is already as competitive as it can get, especially with the rising number of billionaires showing interest in the luxury real estate in the city of Mumbai.
Outlook: What Lies Ahead?
The dominance of luxury realities in Worli is transforming the perception of luxury realities in India. Buyers seeking not only a home place have turned out to be the leading buyers in the area. They desire status, security, exclusivity and appreciation of value. And they are ready to spend top prices on it. Making luxury deals of about 5000 crores and raising the price by 30 percent, Worli is the new jewel of Mumbai real estates. It is an innovation in the ultraluxury housing market of India.
Conclusion
The billionaires in Mumbai are taking dramatic moves in real estate. And they are opting to live in Worli. Whether it is pharma giants or banking tycoons, the richest in India are now clinching multi-crore sea facing homes. These are not houses, these are assertions of authority and durability. The market of ultra-luxury in Worli is likely to rise further as there would be less inventory and heavy competition. At the moment, this legendary district has no competitors as the focal point of the most expensive real estate in India.
Written by Promita Ghosal
