Leena Gandhi Tewari sets new India record with Rs 703 cr Mumbai duplex deal

India’s luxury real estate just got its boldest benchmark yet. Leena Gandhi Tewari, chairperson of pharma giant USV, has purchased two sea-facing duplex apartments in Mumbai’s Worli for Rs 639 crore — making it the most expensive residential property transaction ever in India. Add to that Rs 63.9 crore in stamp duty and GST, and the total value of the deal soars to Rs 703 crore, as per documents accessed by industry insiders.  This exceptional high-floor residence offers the rare trifecta: Exceptional "Khandala" fog in monsoons, enduring Arabian Sea views, a captivating panorama of Mumbai's "Golden Gate" Bridge, and guaranteed view protection forever as project on ocean banks. Mumbai's luxury market is consistently shattering records but we are not surprised." ~ Abhishek Kiran Gupta, CEO & Co-founder, CRE Matrix & Indextap.com

 

 

Deal details decoded: 

The twin duplexes are located on the 32nd to 35th floors of Naman Xana, a newly constructed 40-storey ultra-luxury residential tower on Worli Sea Face. Together, the apartments span 22,572 sq. ft. of carpet area — valued at over Rs 2.83 lakh per sq. ft, the highest known price per sq. ft. in India’s residential market to date.

 

In total, Tewari paid:

 

Rs 639 crore for the property

 

Rs 63.9 crore in stamp duty and GST

 

Totaling nearly Rs703 crore

 

Tewari’s purchase underscores a trend that real estate investors should watch closely:

 

• Mumbai’s luxury housing market is resilient and appreciating, especially in prime seafront localities.
• This transaction sets a new pricing benchmark for high-end apartments across India.
• Worli continues to dominate among Mumbai’s ultra-luxury destinations, thanks to infrastructure upgrades like the Coastal Road and Bandra-Worli Sea Link.

 

 Who is Leena Gandhi Tewari?

Net Worth: $3.9 billion (₹32,500+ crore), per Forbes Real-Time Billionaire List (May 2025)

Position: Chairperson, USV Pvt. Ltd., a leading Indian pharmaceutical and biotechnology firm

Legacy: Granddaughter of USV founder Vithal Balkrishna Gandhi

 

Family:

• Husband Prashant Tewari is USV’s MD (IIT + Cornell alum)
• Daughter Aneesha Gandhi Tewari, Ph.D. from MIT, joined the board in 2022
• Son Vilas Tewari also serves on the board

 

USV is known for its focus on diabetes, cardiovascular drugs, biosimilars, injectables, and active pharmaceutical ingredients (APIs). It posted revenues of $511 million, and expanded internationally with the acquisition of Germany’s Juta Pharma in 2018.

 

 Naman Xana and Mumbai's super-luxury boom

Tewari isn’t the only billionaire eyeing premium real estate in Mumbai.

 

 Earlier this month, banker Uday Kotak made headlines after he purchased a whole sea-facing building on Worli Sea Face for more than Rs 400 crore. Some of the apartments in the deal are said to have closed at about Rs 2.90 lakh per sqft, inclusive of land rights.

 

In April 2025, Pirojsha Adi Godrej, chairperson of Godrej Properties and his cousin Freyan Crishna Bieri have bought four apartments just off Peddar Road in Mumbai for a total of Rs  290.59 crore, showed documents accessed by IndexTap, a real estate data driven firm.The four luxury apartments are in the Godrej Carmichael project on Carmichael Road, Mumbai, and have been purchased at a record price of Rs 1.78 lakh per square foot. 

 

Tanya Dubash, daughter of Adi Godrej, reportedly also purchased a Rs 225 crore duplex in Naman Xana at Rs 2.2 lakh/sq. ft earlier this year.

 

In December 2024, Barnsley Football Club's chairman, Neerav Parekh, and his mother, Kalpana Parekh, purchased two apartments worth Rs170 crore in Naman Xana, according to property registration documents accessed by Indextap.

 

Metro Brands promoters bought a Rs 405 crore flat in Palais Royale, Lower Parel.

 

The Kabra family of RR Kabel closed a Rs 200 crore deal in 360 West, Worli.  Realty firm Macrotech Developers in March 2024 sold a luxury apartment of nearly 15,000 square feet area to S R Menon Properties for Rs 187.47 crore, according to Square Yards. The property is located in Worli, in Lodha Sea Face, a luxury residential project developed by Macrotech Developers Ltd. According to RERA, the project is spread across 1.5 acre and comprises 29 residential units featuring 5 BHK and 6 BHK configurations.

 

These headline-making transactions highlight growing confidence in Mumbai’s premium residential segment — driven by scarcity of seafront property, improving infrastructure, and rising wealth among India’s business elite.

 

For high-net-worth individuals, real estate continues to serve as a status symbol, asset class, and inflation hedge — but for the average investor, it’s a cue to watch location, infrastructure plans, and pricing trends very carefully. 

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," said  Ritesh Mehta, senior director and head (North and West), Residential Services and Developer Initiatives at JLL India. 

Everything you need to know about Naman Xana: 

 

Naman Xana is located at Worli Sea Face, Mumbai, Maharashtra – 400018. 

 

The project is expected to be completed by 28-08-2027

 

The starting price for residences at Naman Xana is Rs 97.50 Cr.

 

Naman Xana is registered under the Maharashtra Real Estate Regulatory Authority (MahaRERA) and adheres to all RERA compliance standards.

 

Naman Xana offers ultra-luxurious 6500 sq. ft. apartments

 

Naman Xana provides a range of premium amenities, including:

Gym.

Party hall.

Pilates Room.

Indoor Games Area.

 

Naman Xana features an iconic design with panoramic views of the Arabian Sea, eco-friendly architecture, smart home automation, and a prime location at Worli Sea Face, making it one of Mumbai’s most coveted addresses.

 

Residences: Each floor offers a bare-shell space of approximately 6,500 sq. ft., allowing for customizable configurations ranging from 3 BHK to 5 BHK. The design facilitates the creation of duplex apartments with double-height spaces, enhancing the sense of luxury and openness.