Latest news with #LeenaGandhiTewari
India.com
16 hours ago
- Business
- India.com
Meet Billionaire Woman Who Bought India's Most Expensive Sea-Facing Flats In Mumbai For Rs... Her Name Is...; Check Net worth And Education
photoDetails english India's Most Expensive Flats: Leena Gandhi Tewari is a name not widely known, but she recently grabbed national attention after purchasing two sea-facing flats in Mumbai's Worli for a staggering amount — reportedly the most expensive residential property deal in India, according to media reports. Leena Gandhi Tewari is an Indian businesswoman and author. She is the chairperson of USV Private Limited, a multinational pharmaceutical and biotechnology company headquartered in Mumbai. Under her leadership, USV has become one of India's top five pharmaceutical firms, specializing in medications for diabetes and heart-related conditions. Updated:Jun 01, 2025, 08:20 PM IST India's Most Expensive Flat Deal 1 / 7 Leena Gandhi Tewari has purchased two luxurious sea-facing duplex flats in Mumbai's Worli for ₹639 crore, marking the most expensive residential property transaction ever recorded in India's real estate history. USV Chairperson Leena Gandhi Tewari 2 / 7 Tewari is the chairperson of USV, a pharmaceutical giant founded in 1961 by her grandfather, Vithal Balkrishna Gandhi, in collaboration with global cosmetics brand Revlon. She continues the family legacy with strong leadership. Ultra-Premium Sea-Facing Homes 3 / 7 The two duplexes are situated in Naman Xana, a 40-storey tower on Worli Sea Face. They span the 32nd to 35th floors, covering a total carpet area of 22,572 sq. ft. at ₹2.83 lakh/sq. ft. India's Most Expensive Flat Worth 4 / 7 Including over Rs 63.9 crore in stamp duty and GST, the total cost of the property purchase amounts to nearly Rs 703 crore. As per documents, the high-value deal was officially registered on May 28, 2025. Leena Gandhi Tewari Education And Family 5 / 7 Leena holds a from the University of Bombay and an MBA from Boston University. Her husband and both children—an MIT PhD and a Boston CS graduate—serve on the USV board, continuing the legacy. USV Chairperson Leena Gandhi Tewari Networth 6 / 7 With a net worth of $3.9 billion as of May 30, 2025, Leena is among India's wealthiest women. She ranks 964th globally and was the 45th richest Indian woman in Forbes India's 2023 list. Leena Gandhi Tewari Surpasses Networth Of MD Of Biocon And CEO Of Nykaa 7 / 7 Leena Gandhi Tewari's wealth exceeds that of fellow industry icons like Kiran Mazumdar-Shaw of Biocon and Falguni Nayar of Nykaa. In 2023, her net worth was estimated at $3.7 billion, rising significantly within a year. (Image Credit: Social Media And X)
India.com
20 hours ago
- Business
- India.com
Rs 500 crore, Rs 700 crore, Rs 1000 crore..., who are the people who are buying such expensive houses and why?
(File/ New Delhi: Nowadays, there is a lot of buying and selling of very expensive property in India. Leena Gandhi Tewari, chairperson of the pharmaceutical company USV Limited, has purchased two duplex flats in Mumbai's Worli area for 635 crore rupees. The total area of both flats is 22,572 square feet. The cost per square foot is 2.83 lakh rupees. In the past few years, many wealthy people in India have invested a lot of money in homes. This has changed the luxury housing market in the country. Apart from Leena Gandhi Tewari, the Kotak family bought an entire building facing the sea in Mumbai for around 628 crore rupees. Radhakishan Damani, the owner of D-Mart, purchased an old bungalow in Malabar Hill for 1000 crore rupees. This shows that India's wealthy people are not just investing in the stock market or startups, they are now investing heavily in land and property as well and they are not just buying anywhere, but rather in selected areas of the country. Why are people buying such expensive properties? There are several reasons. Firstly, people feel that the market for luxury homes in India is doing very well. The demand for good homes is very high, but their supply is low. This is especially true in areas like Lutyens' Delhi, Malabar Hill and Worli in Mumbai, and Golf Course Road in Gurugram. As a result, prices are skyrocketing. In Gurugram, prices at DLF Camellias have reached Rs. 1.17 lakh per square foot. There are some unique aspects to these deals. For instance, the Kotak family has purchased an entire building facing the sea in Worli. It is believed that they will redevelop it. These properties are not just for living but also for investment purposes. This opens up the potential for creating luxury apartments or mixed-use projects in the future, which could yield good returns. Hot spots for luxury homes According to a report by Knight Frank, Mumbai, Bengaluru, and Delhi are among the 15 cities in the world where luxury home prices are rising the fastest. In this list, Bengaluru is fourth, Mumbai is fifth, and Delhi is fifteenth. The report studied luxury home prices in 45 cities globally. It indicates that India is rapidly advancing in the luxury home market. According to the Knight Frank Wealth Report 2024, the number of ultra-rich individuals in India increased by 6% last year, reaching 85,698. It is expected that by the year 2028, this number will increase to 93,753. These individuals have invested 32% of their wealth in homes, compared to 25% in 2020. This shows that people are now investing more in assets like land and property.
Time of India
3 days ago
- Business
- Time of India
Why India's 1% are staking claims in the luxury concrete jungle; 10 biggest realty splurges
One of India's costliest residential transactions to date saw pharma billionaire Leena Gandhi Tewari, chairperson of USV Ltd, spend ₹635 crore on two sea-facing duplexes in Naman Xana, Worli. Spread over four floors with a combined carpet area of 22,572 sq ft, the deal works out to ₹2.83 lakh per sq ft, setting a new national benchmark , as per ET. Over the past few years, India's ultra-high-net-worth individuals (UHNWIs) have ramped up investments in residential real estate, reshaping the country's luxury housing landscape. The headline numbers say it all. Tewari's ₹639 crore twin duplex deal in Worli, the Kotak family's ₹628 crore consolidation of nearly an entire sea-facing building in Mumbai, and DMart founder Radhakishan Damani's ₹1,000 crore heritage bungalow acquisition in Malabar Hill. The message is clear. India's wealthy are not limiting their investments to equities or startups. Increasingly, they are putting money into bricks and mortar. And not just any bricks and mortar but the most coveted addresses in the country. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Also Read: Indian residential real estate hits new highs with record-breaking apartment deals in Mumbai What is driving the trend? Several factors are at play. First, there is growing conviction that luxury real estate in India is entering a golden phase. Demand for marquee properties is far outstripping supply, particularly in prime pockets such as Lutyens' Delhi, Malabar Hill, Worli, and Golf Course Road in Gurugram. That scarcity is pushing prices into uncharted territory. Tewari's purchase at ₹2.83 lakh per sq ft set a new national record. In Gurugram, DLF Camellias has seen rates reach as high as ₹1.17 lakh per sq ft according to Anarock and media reports. Furthermore, a recent Knight Frank report revealed that Mumbai, Bengaluru, and Delhi ranked among the top 15 global cities for prime residential price growth in Q1 2025, with Bengaluru placed fourth, Mumbai fifth, and Delhi fifteenth. The report tracked price movements across prime residential markets in 45 global cities, highlighting India's rising prominence in the luxury real estate segment. Live Events Also Read: This area in Delhi-NCR saw a 98% property price rise in the last 5 years, see how much property prices appreciated in your locality Many of these deals carry strategic value. Take the Kotak family's near-total ownership of a sea-facing building in Worli. It is widely seen as a redevelopment play. These are not just end-use homes but investment vehicles, with long-term potential for high-yield luxury apartments or mixed-use projects. India's top luxury residential deals Sl No. Buyer Location Deal Value (₹ cr) Highlights 1 Radhakishan Damani (reportedly) Malabar Hill, Mumbai 1,000 Heritage bungalow; 1.5-acre plot; redevelopment potential 2 Leena Gandhi Tewari Worli, Mumbai 639 Twin duplexes; ₹2.83 lakh/sq ft; 22,572 sq ft 3 Uday Kotak family Worli Sea Face, Mumbai 628 (426 + 202) 21 of 24 flats; potential redevelopment 4 Kumar Mangalam Birla Malabar Hill, Mumbai 425 Jatia House; 25,000 sq ft bungalow 5 J.P. Taparia family Three Sixty West, Worli, Mumbai 369 6 apartments; 5,000 sq ft each 6 Rishi Parti & others DLF Camellias, Gurugram 285 (190 + 95) Penthouse + apartment; ₹1.17 lakh/sq ft 7 Nadir Godrej Malabar Hill, Mumbai 180 3 apartments in Ruparel House 8 Vasudha Rohatgi Golf Links, Delhi 160 2,160 sq yd bungalow 9 Bhanu Chopra Golf Links, Delhi 127.5 11,000 sq ft bungalow 10 Gaurav Trehan Malabar Hill, Mumbai 88 5,381 sq ft flat with private deck (Sources: Industry data, media reports) What the numbers reveal According to the Knight Frank Wealth Report 2024, India's UHNWI population grew by six percent last year to reach 85,698. This number is expected to rise to 93,753 by 2028. Residential real estate now accounts for 32% of their investment portfolios, up from 25% in 2020. This is a notable shift towards tangible, high-value assets. India's real estate sector began 2025 on a strong note. CBRE's India Market Monitor Q1 report shows that equity investments surged to $3 billion in the January to March quarter, a 74% year-on-year jump driven by developer activity and increased interest in Real Estate Investment Trusts (REITs). The luxury housing segment stood out with sales up 28% year-on-year. Delhi-NCR led the surge, with a balance between new launches and demand. Bengaluru, Mumbai and Delhi-NCR together accounted for 67% of total equity inflows, showing their dominance as real estate hubs. Also Read: Looking to buy an apartment in Mumbai for Rs 1 crore? These areas in the suburbs look promising High-end deals continue to set records. Nadir Godrej spent ₹180 crore on three apartments in Malabar Hill. Rishi Parti paid ₹190 crore for a penthouse in DLF Camellias. Even relatively new entrants such as RateGain founder Bhanu Chopra are buying into this segment with his ₹127.5 crore Golf Links bungalow. Several other marquee transactions, including a reported ₹500 crore sea-facing bungalow in Mumbai's Cuffe Parade, remain confidential due to privacy clauses. This boom in ultra-luxury real estate is about more than just eye-popping prices. It reflects a structural shift in how India's wealthiest individuals are allocating capital. With global real estate markets stagnating and Indian equities prone to volatility, many billionaires are looking inward for stability and finding it in landmark properties with enduring value.
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First Post
3 days ago
- Business
- First Post
Who is Leena Gandhi Tewari, who bought India's costliest flats for Rs 639 crore in Mumbai's Worli?
Leena Gandhi Tewari, chairperson of pharmaceutical company USV Ltd, has purchased two sea-facing duplex apartments for Rs 639 crore in Mumbai's Naman Xana, a luxury 40-storey tower on Worli Sea Face, offering sweeping views of the Arabian Sea. Including stamp duty and GST of Rs 63.90 crore, the total transaction value stands at Rs 703 crore. This is the most expensive residential property deal ever recorded in India read more Leena Gandhi Tewari is the chairperson of pharma company USV Ltd. Image: X Leena Gandhi Tewari, the chairperson of pharma company USV Ltd, has bought two sea-facing duplex apartments in Mumbai's upscale Worli area for Rs 639 crore. This is the costliest residential property transaction ever recorded in India, and among the biggest real estate deals in the country. The apartments cover floors 32 to 35, and the price works out to Rs 2.83 lakh per square foot, likely the highest rate seen in any residential market in India so far. STORY CONTINUES BELOW THIS AD With stamp duty and GST of Rs 63.90 crore, the total value of the deal comes to Rs 703 crore. As per property registration documents, the transaction was registered on May 28. But who is Leena Gandhi Tewari? What do we know about these apartments? As we break this down, what are some of the other most expensive real estate deals in India? And why are many pharma industry promoters and executives choosing to invest in luxury homes in Mumbai? Let's get you the answers to these questions and more. Leena has bought two sea-facing duplex apartments in the luxury high-rise Naman Xana on Worli Sea Face. The 40-storey tower offers clear views of the Arabian Sea. The duplexes span four floors, from the 32nd to the 35th, covering a total area of 22,572 square feet. At Rs 2.83 lakh per square foot, this makes it one of the highest-priced home purchases in India. In addition to the purchase cost, Leena also paid Rs 63.9 crore in stamp duty and GST, pushing the total amount spent to nearly Rs 703 crore. Mumbai has seen a sharp rise in big-ticket property purchases in recent months. Reuters/File Photo This makes it the most expensive residential deal ever recorded in the country. According to Fortune Magazine, the Naman Xana building was designed by Talaty & Partners LLP. It features 22 exclusive homes with open layouts of around 6,500 square feet, offering wide views of both the sea and the city. STORY CONTINUES BELOW THIS AD Part of Mumbai's ultra-premium property segment, the tower also enjoys improved access due to the new Coastal Road. Who is Leena Gandhi Tewari? Leena is a well-known name in India's pharmaceutical industry and serves as the chairperson of USV Private Limited. She has a net worth of $3.7 billion (over Rs. 30,000 crores) as of 2023, and is among India's richest women. USV was set up in 1961 by her grandfather, Vithal Balkrishna Gandhi. The company is a top player in India's market for oral anti-diabetic and heart-related medicines. It also makes active pharmaceutical ingredients (APIs). Notably, Leena holds a from the University of Bombay and an MBA from Boston University. Her husband, Prashant Tewari, is the Managing Director of USV. Their daughter, Aneesha, has a PhD in molecular biology from MIT, and their son, Vilas, is a computer science graduate from Boston. Both are on the company's board. India's most expensive real estate deals Billionaire banker Uday Kotak and his family purchased nearly the entire 19 Shiv Sagar building in Worli, a sea-facing property, for Rs 426 crore. As per documents reviewed by The Economic Times, the Kotak family had already bought 13 of the 24 apartments in this upscale building through deals completed in January and September 2024. STORY CONTINUES BELOW THIS AD Their latest purchase in April 2025 added another 8 apartments, taking their total to 21. Only two flats remain to be formally transferred to their name. These apartments in the two-storey building were bought at nearly Rs 2.72 lakh per square foot, the report said. In another high-value transaction, the promoters of Metro Brands purchased a large apartment in the under-construction Palais Royale in Lower Parel for Rs 405 crore. The flat measures over 38,000 square feet. According to data analysed by real estate consultancy Anarock, a total of 59 ultra-luxury homes were sold in 2024, with an overall sales value of around Rs 4,063 crore. This marked a 17 per cent rise in the total value of such deals compared to the previous year. Mumbai led the market with 52 out of these 59 deals, accounting for 88 per cent of all ultra-luxury property sales. Of the 17 deals that crossed Rs 100 crore in 2024, 16 were in Mumbai and one in Delhi-NCR (Gurugram). According to Business Standard, Mumbai's transactions included 14 apartments in Worli, Malabar Hill and Pali Hill, and two bungalows in Cuffe Parade and JVPD. STORY CONTINUES BELOW THIS AD This is the costliest residential property transaction ever recorded in India. Reuters/File Photo Mumbai's luxury housing sees high demand from the pharma sector Mumbai has seen a sharp rise in big-ticket property purchases in recent months. Among the major deals, the Kabra family of RR Kabel bought two apartments at 360 West in Worli for nearly Rs 200 crore. The promoters of Metro Brands picked up a large flat at Palais Royale in Lower Parel for Rs 405 crore, with the unit measuring over 38,000 square feet. Similar high-value deals have taken place at Lodha Malabar and other luxury projects across South Mumbai. In April, the city recorded its highest number of property registrations, which maintains its position as India's priciest and most active real estate market. South and Central Mumbai, which host the country's most expensive homes, continue to draw industrialists, senior executives, celebrities and sports stars. These areas have led the latest wave of record-breaking transactions. So what's behind the growing interest from pharma industry leaders? Real estate experts told Hindustan Times that the post-Covid jump in wealth has made luxury homes a go-to choice for pharma promoters and executives. They see such properties as both a stable investment and a symbol of success. STORY CONTINUES BELOW THIS AD As per documents accessed by Zapkey, Vibha Shanghvi, wife of Sun Pharma chairman and managing director Dilip Shanghvi, bought two flats worth Rs 130 crore in Worli last year. The apartments are in the same project where Leena Gandhi Tewari recently purchased her duplex units. Sandeep Reddy, co-founder of Zapkey, told HT that pharma promoters are snapping up luxury trophy homes at prices that often exceed market norms. He added that a strong fear of missing out (Fomo) is playing a big role in driving these record buys.
India Today
3 days ago
- Business
- India Today
Meet Leena Gandhi Tewari, the SUV chairperson who bought India's costliest flats
Leena Gandhi Tewari is a name not many know well, but she recently caught everyone's attention after buying the most expensive flats in India. She bought two sea-facing luxury duplex apartments in Mumbai's Worli area for Rs 639 crore. This deal broke records and surprised many in the property and financial RECORD-BREAKING REAL ESTATE DEALSpanning over 22,572 sq ft, the duplex apartments are situated from the 32nd to the 35th floor in the 40-storey Naman Xana building on Worli Sea Face, overlooking the Arabian Sea. The price works out to more than Rs 2.83 lakh per sq the huge purchase amount, Leena paid over Rs 63.9 crore extra in stamp duty and taxes, making the total cost close to Rs 703 crore. This move was quiet but powerful, much like her OF USVLeena is the chairperson of USV, a Mumbai-based pharmaceutical company, which was started by her late father, Vithal Gandhi, in partnership with Revlon in 1961. Forbes estimates Leena's net worth at $3.9 billion, as of May 30, 2025, making her one of India's richest keeps her personal life as private as her business affairs. She is known to be a close friend of Nita Ambani. Her husband, Prashant Tewari, who is also involved with USV, is an IIT graduate and a mechanical engineer from Cornell. Their daughter, Aneesha Gandhi Tewari, holds a Ph.D. in molecular biology from MIT and was appointed to USV's board in August popular medicines, such as Glycomet for diabetes and Ecosprin for blood thinning, enjoy wide recognition and trust across the Leena Tewari's record property purchase and her leadership of USV demonstrate her influence both in business and beyond.
