Mumbai leads India’s luxury property boom as the rich spend ₹7,186 cr in 2025; ₹739 cr pharma deal steals the spotlight
January 3, 2026
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Mumbai tops the market with 35 deals worth ₹5,100 cr, cementing its position as India’s leading luxury real estate hub. Delhi NCR follows with 12 transactions.
The year 2025 recorded the highest-ever number of super-luxury transactions, with nine deals exceeding the ₹200 crore mark, signalling a significant reset in ultra-luxury price benchmarks.
India’s wealthy individuals and entities spent more than ₹7,100 crore on 51 ultra-luxury homes in 2025, making it one of the strongest years on record for the high-end residential market, according to data collated by Zapkey.
Leena Tiwari’s headline-grabbing ₹739 crore Mumbai property purchase, the largest single transaction of the year, underscored the increasing flow of pharmaceutical wealth into real estate. Market experts expect this momentum to continue into 2026, particularly if the substantial IPO-driven wealth generated this year continues to be channelled into property, lending sustained buoyancy to the super-luxury segment.
The year 2025 recorded the highest-ever number of super-luxury transactions, with nine deals exceeding the ₹200 crore mark, signalling a significant reset in ultra-luxury price benchmarks, data from Zapkey showed.s
The ₹100 crore club also expanded sharply, with a record 30 transactions crossing the ₹100 crore threshold during the year, the data showed.
Two cities, two luxury stories: Mumbai’s high-rises versus Delhi’s grand bungalows
Regionally, Mumbai led the market with 35 transactions worth about ₹5,100 crore, reaffirming its status as the country’s premier luxury real estate hub. Delhi NCR followed with 12 high-value deals, most of them concentrated in the elite Lutyens’ zone.
The Worli phenomenon. Worli saw 21 of the top deals, cementing itself as the billionaire’s district of choice, the data showed.
While Mumbai buyers gravitated towards vertical luxury residences, Delhi saw over ₹1,500 crore spent largely on independent bungalows in prime locations such as APJ Abdul Kalam Road and Golf Links, the Zapkey data showed.
₹200 crore is the new ₹100 crore
The year 2025 saw the highest number of super-luxury deals, with nine transactions crossing the ₹200-crore mark, signalling a massive shift in ultra-luxury benchmarks, the data showed.
The top real estate deals of 2025
Pharmaceutical firm USV’s chairperson, Leena Gandhi Tewari, bought two luxury sea-facing duplex apartments in Mumbai’s posh Worli area for almost ₹739 crore. The two duplexes that Tewari has bought are located in Naman Xana, a 40-storey premium tower on Worli Sea Face. The apartments span the 32nd to 35th floors and cover a total area of 22,572 sq. ft. As per registration documents dated May 28, 2025, the price works out to over ₹2.83 lakh per sq. ft. on carpet area. Local brokers say this is the highest amount ever paid for a residential deal in the country.
Source: hindustantimes
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