by Deepak Sawant 
In a record-breaking real estate deal, Mumbai has witnessed the sale of the Indias Most Expensive Home Sale in history. The buyer is not a Bollywood celebrity or a top industrialist—but a powerful woman from the pharmaceutical industry.
Who Bought the Home?
The buyer is Leena Tiwari, chairperson of USV Pvt Ltd, a well-known pharmaceutical company. Her company manufactures popular drugs like Glycomet and Ecosprin, which are used daily by millions of Indians for managing diabetes and heart conditions.
Now, she’s made headlines for a completely different reason—she has purchased two ultra-luxury sea-facing duplex apartments in Mumbai for a massive ₹639 crore.
Where Is This Record-Breaking Apartment Located?
The apartments are located in a luxurious skyscraper called Naman ‘Xana’ (also known as “Zanna”), currently under construction in Worli, one of Mumbai’s most prestigious neighborhoods.
The building is being developed by the Shri Naman Group, a well-established real estate company. Naman Xana is not just any apartment tower—it’s a 40-story high-rise that rises 150 meters above sea level and offers stunning views of the Arabian Sea.
Key Features of the Property
- Size: Leena Tiwari’s new home spans 22,500 square feet, spread across the 32nd to 35th floors of the building.
- Price Per Square Foot: At nearly ₹2.8 to ₹3 lakh per square foot, this is the costliest real estate transaction ever in India.
- Design: Each apartment has column-free layouts, allowing residents to personalize the interiors without architectural limitations.
- Parking: The tower has 11 levels of parking, ensuring plenty of space for vehicles.
- Exclusivity: There are only 16 units in the entire building, making it an extremely low-density and exclusive project.
- Prime Location: It sits on a corner plot at the entrance to the Bandra-Worli Sea Link, one of Mumbai’s key infrastructure landmarks. Corner plots are often highly desirable due to better ventilation, views, and privacy.
Why Is This Deal So Significant?
This transaction is not just about the price—it reflects the growing demand for ultra-luxury homes in India’s financial capital. While most Indians are still struggling with rising property prices, there is a niche group of ultra-rich buyers looking for rare and luxurious homes, especially those with a sea view.
What Makes Naman Xana So Special?
We spoke to real estate expert Vishal Bhager, who explained why this particular project stands out:
“There are three major factors that make this project unique. First, it’s sea-facing, which is always premium in Mumbai. Second, it has a very low number of apartments, making it more private. But most importantly, this is a non-redevelopment project, which is extremely rare.”
In Mumbai, most new buildings are redevelopments—old structures torn down and rebuilt. But Naman Xana is being built on fresh, non-redevelopment land, making it even more valuable due to fewer legal complexities and better construction control.
Bhager added that out of all land parcels in Mumbai, only a handful remain where such fresh development is possible. This makes the project a true gem in Mumbai’s real estate scene.
Leena Tiwari’s Net Worth
Leena Tiwari is one of the richest women in India. According to Forbes, her estimated net worth is over ₹33,000 crore. While the ₹639 crore deal may seem massive to the average Indian, for Tiwari, it’s a symbol of status, exclusivity, and long-term investment.
Ultra-Luxury Real Estate in India: A Growing Market
Despite high prices, demand for ultra-premium homes in Mumbai has been steadily rising. Properties priced at over ₹10 crore have seen a 10% year-on-year increase in demand, according to industry data.
The reason? A combination of:
- Limited supply of luxury homes in prime areas
- Growing number of high-net-worth individuals (HNIs)
- Increasing desire for homes with modern amenities and privacy
- Premium placed on location, views, and exclusivity
Future of Luxury Real Estate in Mumbai
Will this be the last record-breaking deal this year? Unlikely.
Experts believe that as long as there is wealth concentration in the hands of the few, and a shortage of land in places like South Mumbai and Worli, prices will continue to rise for such luxury homes.
Real estate observers also note that more such deals could happen in neighborhoods like:
- Malabar Hill
- Cuffe Parade
- Bandra
- Altamount Road
- Prabhadevi
These areas already command some of the highest rates in the country and have limited new development opportunities.
Is It Worth the Price?
To the average person, paying ₹3 lakh per square foot may seem outrageous. But for ultra-wealthy buyers like Tiwari, it’s about:
- Prestige
- Security
- Privacy
- Location
- A long-term investment that appreciates over time
Luxury homes are no longer just about bricks and mortar. They are lifestyle statements.
Final Thoughts
Leena Tiwari’s ₹639 crore purchase is not just a news headline—it signals a shift in India’s real estate market. As the ultra-rich seek privacy, design freedom, and location-based value, developers are responding with limited-edition luxury towers.
While most Indians will never step inside such a home, these deals give a glimpse into how the top 1% live—and how they invest their wealth.
As for the rest of Mumbai, the hope is that such projects also push innovation, better design standards, and possibly even greater investment into infrastructure that benefits everyone.
