Promoters of K Raheja Corp have sold a super-luxury apartment in Mumbai’s premium residential market. Ravi Raheja, group president of the company, and his wife Sumati Raheja sold a 6,772 sq ft apartment at Raheja Artesia in Worli for ₹121 crore.
The buyers, Shree Dhootapapeshwar Ltd, manufacture and sell Ayurvedic medicines and health supplements. The transaction highlights the continued momentum in Mumbai’s ultra-luxury residential market. Property registration documents show that the transaction was officially registered on February 26, according to data accessed by CRE Matrix.
Property and Transaction Details
The apartment sits on the 44th floor of the tower and spans 6,772 sq ft of built-up area. It also includes an additional 367 sq ft balcony or open terrace space.
Including the outdoor area, the deal value translates to roughly ₹1.7 lakh per square foot. The residence also comes with six dedicated car parking spaces.
Promoters Monetising Premium Inventory
Developers and promoters often retain select inventory in luxury projects and sell these units later as property values rise. Recent transactions at the same project reflect this strategy.
Angel investor Radha Tanti, wife of Suzlon Energy executive vice chairman Girish Tanti, recently purchased another apartment in the same tower from Ravi and Sumati Raheja for ₹123.5 crore.
In another transaction, Chandru Raheja and Jyoti Raheja sold two residences in the building to Suresh Pareek and Veena Pareek, promoters of Ideal Cures Pharma, for a combined ₹190.1 crore. That deal was priced at approximately ₹1,35,970 per sq ft.
Worli’s Luxury Market Continues to Break Records
The latest sale adds to a growing list of high-value transactions in Worli, where several homes have sold for over ₹100 crore in 2024 and 2025.
Limited supply, sea-facing locations, and strong demand from ultra-high-net-worth individuals have strengthened the neighbourhood’s reputation as Mumbai’s “billionaire street.” Premium developments such as Naman Xana, Three Sixty West, and Lodha Sea Face have attracted prominent buyers in recent years.
According to Abhishek Kiran Gupta, CEO of CRE Matrix, such high-value transactions reflect the depth of Mumbai’s ultra-luxury housing segment. Wealthy buyers increasingly view prime homes in the city as both a lifestyle investment and a long-term wealth asset.
Recent transactions at Raheja Artesia highlight the strong demand for ultra-luxury homes in Worli. Several high-value deals involving prominent business families and investors underscore the growing appetite for prime residential assets in Mumbai’s most exclusive neighbourhoods.
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