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Mumbai Real Estate: Blue Jet Healthcare promoter family buys three Worli luxury apartments for more than ₹202 crore
Blue Jet Healthcare promoter family buy three Worli luxury properties worth over ₹202 crore, signaling rising pharma wealth in Mumbai’s high-end real estate
In yet another sign of pharma wealth flowing into Mumbai’s luxury real estate, the promoter of Blue Jet Healthcare and his family have purchased three high-end apartments in Worli for over ₹202 crore, according to property registration documents accessed by Zapkey.
Akshay Bansarilal Arora, promoter of the pharma company, bought two units in the super-luxury skyscraper Palais Royale from Honest Shelters Pvt Ltd. Each apartment measures 7,669 sq ft, comes with five car parking spaces, and was purchased for ₹57.14 crore.
Akshay Bansarilal Arora and Honest Shelters Pvt Ltd could not be reached for a comment.
In a separate deal, Shiven Akshay Arora, acquired a 7,747 sq ft apartment in Raheja Artesia, Worli, for ₹88 crore. The residence includes six parking spaces, the documents showed.
Shiven Akshay Arora and Raheja could not be reached for a comment.
Worli in central Mumbai has become a hotspot for several luxury projects after South Mumbai, Lower Parel, Prabhadevi, and Bandra. The micro market has several projects in the above ₹1 lakh per sq ft price range.
Other pharma deals in Mumbai
Pharmaceutical firm USV’s chairperson, Leena Gandhi Tewari, has bought two luxury sea-facing duplex apartments in Mumbai’s posh Worli area for ₹639 crore. She spent almost ₹63.9 crore in stamp duty and GST, bringing the total value of the transaction to about ₹703 crore, making it the most expensive residential property deal recorded in the country.
The transaction underscores a significant uptick in luxury housing demand, particularly from the pharmaceutical sector. Real estate experts believe the post-COVID wealth surge has prompted many pharma promoters and executives to view high-end properties as both a secure investment and a status symbol.
“Pharma wealth is increasingly flowing into real estate,” said industry experts.
The Zydus Family Trust, associated with Zydus Lifesciences Limited (formerly Cadila Healthcare Limited), a leading Indian pharmaceutical company, has purchased a ₹200 crore luxury apartment in Mumbai's Worli earlier this year.
Last year, Vibha Shanghvi, wife of Dilip Shanghvi, chairman and managing director of Sun Pharma has purchased two apartments worth ₹130 crore in Mumbai's Worli area, according to documents accessed by Zapkey.
Also Read: Vibha Shangvi, wife of Sun Pharma CMD purchases two apartments in Mumbai's Worli for ₹135 crore
