Most Expensive Residential Property Deal Ever Recorded in India Carried Out for ₹703 Crore in Mumbai's Worli

A Benchmark Deal in Luxury Real Estate

The property, located in the ultra-premium Naman Xana tower at Flora Junction, Worli Seaface, was purchased on May 28. According to real estate analytics firm CRE Matrix, this transaction has set a record price of ₹3,17,630 per square foot. After adjusting for the combined carpet area of over 11,000 sq ft, the effective rate comes to around ₹2.83 lakh per sq ft.

Tewari’s purchase includes two duplex apartments spread across the 31st to the 35th floors of the tower. The base value of the deal is ₹639 crore, while the total amount, including a stamp duty of ₹31.95 crore, sums up to a staggering ₹703 crore.

What Makes Naman Xana So Exclusive?

Naman Xana is developed by the renowned Shree Naman Group and is a collaboration with the architectural firm Talati & Partners. Standing at 150 metres tall, the tower offers panoramic views of the Arabian Sea and features:

22 residential floors
11 levels of dedicated parking
Customisable ‘bare shell’ residences that can be designed as 3BHK, 4BHK, 5BHK or duplexes
Lush green cascading pockets within the high-rise

Located on a coveted corner plot at Worli Seaface, the tower’s position offers unbeatable access to Mumbai’s key arteries, including the Bandra-Worli Sea Link and Western Express Highway. The area is also surrounded by high-end retail, fine dining, and cultural landmarks.

The Power of Location and Sea Views

Mumbai’s luxury housing market has always fetched premium rates, especially in areas like Worli, Tardeo, and Malabar Hill. Sea-facing properties, particularly those offering unobstructed views of the Arabian Sea, are especially coveted by India’s ultra-rich.

Such high-value transactions are not entirely new to Mumbai’s real estate landscape, where properties have crossed the ₹2 lakh per sq ft mark before. However, Leena Gandhi Tewari’s acquisition sets a new high both in terms of total value and price per square foot.

An Indicator of Growing UHNI Interest in Indian Real Estate

This deal underscores the increasing trend of ultra-high net worth individuals (UHNWIs) investing in luxury real estate within India. Just last month, DLF’s Trump Tower Residences in Gurugram sold out entirely on its launch day, indicating a strong appetite for elite real estate assets.

With this purchase, Leena Gandhi Tewari has not only made headlines but also set a new standard in India’s luxury property segment.