Latest news with #Tewari
Time of India
13 hours ago
- Politics
- Time of India
'We all rise above party politics': Manish Tewari joins Tharoor, Khurshid in India's stand against terror
NEW DELHI: As the Modi government pushes its global diplomatic outreach under , senior Congress leader Manish Tewari joined the chorus of support from opposition leaders, calling for unity in the face of terrorism. Tired of too many ads? go ad free now Speaking in Addis Ababa as part of an all-party delegation, Tewari said, 'When it comes to India's self-respect, we all rise above party politics. ' Tewari's remarks came after similar endorsements from Congress colleagues - Shashi Tharoor and Salman Khurshid, even as party president Mallikarjun Kharge has taken a confrontational line, accusing the Centre of misleading the nation and demanding a special Parliament session after the Chief of Defence Staff confirmed an aircraft loss during military operations. Addressing the Indian community in Ethiopia's capital, Tewari said, 'If Pakistan does not stop promoting terrorism, then the answer, which has so far been very calculated, will be very aggressive.' He mentioned that Ethiopia has expressed support for India's position and condemned the April 22 that killed 26 people. In an interaction with ANI, Tewari said, 'Ethiopia has appreciated India's actions in self-defence. We share a deep civilizational relationship with this country. Our people-to-people ties have always been strong and friendly.' Highlighting the delegation's engagements, Chandigarh MP said they met Ethiopia's former Prime Minister, the Deputy Chairperson of the ruling Prosperity Party, and leaders from the African Union and Ethiopian Parliament. 'The African Union was one of the first to define terrorism clearly. Tired of too many ads? go ad free now Their solidarity is significant,' he noted. The delegation, received at Bole International Airport by Indian ambassador Anil Kumar Rai, includes leaders from across party lines: Rajiv Pratap Rudy, Anurag Thakur (BJP), Vikramjit Singh Sahney (AAP), Lavu Sri Krishna Devarayalu (TDP), Anand Sharma (Congress), V. Muraleedharan (BJP), and former diplomat Syed Akbaruddin. Their visit is part of Operation Sindoor, launched by the Indian government on May 7 in response to the Pahalgam terror attack. As part of this initiative, seven all-party delegations have been dispatched to over 30 countries - including France, the UK, Germany, Saudi Arabia, Japan, the US, and South Africa, to expose Pakistan's role in cross-border terrorism and present India's zero-tolerance policy. Operation Sindoor involved precision strikes by on terror camps in Pakistan and Pakistan-occupied Jammu and Kashmir, resulting in the elimination of over 100 terrorists affiliated with Jaish-e-Mohammed, Lashkar-e-Taiba, and Hizbul Mujahideen.
Time of India
2 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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Business Standard
3 days ago
- Business
- Business Standard
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. 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 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.
Time of India
3 days ago
- Politics
- Time of India
'Countries of Gandhi, Mandela': Supriya Sule-led delegation concludes diplomatic visit to South Africa
Supriya Sule-led delegation in South Africa (ANI) The Group-7 all-party delegation, led by Supriya Sule of NCP (SP), concluded its diplomatic visit to South Africa with a series of meetings involving political leaders, think tanks, and the diaspora at India House in Pretoria, the administrative capital of the African nation. Addressing a press conference on Thursday (local time), Sule reflected on the legacy of both Mahatma Gandhi and Nelson Mandela, saying that their "shared values of non-violence and peace" bind the two countries. "India has always globally led for peace and the deep relationship, friendship we have had with South Africa - two sons (Gandhi, Mandela) of this global soil who have always talked about non-violence. So, we feel very close to South Africa," news agency ANI quoted Sule as saying. Further, the Baramati MP addressed the April 22 terrorist attack in Jammu and Kashmir's Pahalgam, which claimed 26 lives. The government has sent seven all-party delegations to 33 countries to highlight Pakistan's role in the attack. "We have come here to tell people of South Africa what really happened in India five weeks ago. There was a brutal attack on India's soul. Twenty-six innocent people on vacation were shot," Sule stated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Pelajari Undo Meanwhile, Congress' Manish Tewari, a member of the Sule-led delegation, highlighted the bipartisan nature of the group as a reflection of India's "unified stance against terrorism." "We are a very diverse multi-party democracy. So, on this platform you have people representing different political parties, from the Government to the Opposition," Tewari said. The Chandigarh MP also underscored India's position on cross-border terrorism emanating from the neighbouring country. "The manner in which this delegation has been structured and the way in which it has been constituted is to convey our national resolve that if terrorism keeps getting perpetrated from across the you have a state on our western border where there is no distinction between the state and the semi-state actors that are its pawns then under those circumstances, (then) it is our national resolve that under no circumstances would that be tolerable. India then reserves the right to energise the full spectrum of options that are available to it in order to protect and defend its national interest," he added. Besides Sule and Tewari, the group Rajiv Pratap Rudy, Vikramjeet Singh Sahney, Anurag Thakur, Lavu Sri Krishna Devarayalu, Anand Sharma, V Muraleedharan, and Syed Akbaruddin.
Time of India
3 days ago
- Business
- Time of India
Who is Leena Tewari? Owner of India's costliest flats worth over Rs 700 crore, spanning 22,572 sq ft in Worli
Leena Tewari , the chairperson of Mumbai-based USV Pharmaceuticals , recently captured public attention for buying India's most expensive residential property—a pair of sea-facing luxury duplex apartments in Worli, Mumbai, for a staggering Rs 639 crore. She also paid Rs 63.9 crore stamp duty and GST. That's nearly Rs 703 crore in total. The landmark deal This landmark deal, reported by The Economic Times on May 28, set a new record in the Indian real estate market with a price exceeding Rs 2.83 lakh per sq ft on a carpet basis, covering 22,572 sq ft across the 32nd to 35th floors of a premium 40-storey tower overlooking the Arabian Sea. She paid over Rs 63.9 crore towards stamp duty and the Goods & Services Tax alone for the registration of the transaction. After accounting for these charges, she has paid a total of nearly Rs 703 crore for the deals. Though widely known among patients for USV's flagship medicines such as Glycomet (for diabetes), Ecosprin (a blood thinner), and Roseday (for cholesterol), Leena Tewari herself maintains a notably low profile. Leena Tewari's net worth Forbes estimates her net worth at $3.9 billion, placing her among India's richest women. Despite her immense wealth, she has kept a discreet presence in business and social circles. Live Events Tewari is also a close friend of Nita Ambani , a prominent figure in Indian business and philanthropy. USV: Leena Tewari's family-run company Under Tewari's leadership, USV remains a family-run company, steadfastly resisting pressures to sell out, bring in private equity, or go public. USV reported revenues of Rs 4,840 crore in FY24, driven by its stronghold on the Indian pharmaceutical market, especially in the diabetes segment. Glycomet ranks as the second-leading anti-diabetes drug in India, just behind GSK's Augmentin. The company's other brands like Ecosprin and Roseday also command significant market shares. Looking ahead, USV faces growing competition from new generation diabetes drugs. To maintain its edge, the company is focusing on expanding its insulin portfolio in India and developing generic versions of blockbuster weight-loss drugs such as Ozempic and Wegovy.
