Suresh Pareek and Veena S Pareek, founders of Ideal Cures, a maker of pharmaceutical excipients, have purchased two luxury apartments in the upscale Worli area of Mumbai for over Rs 190.1 crore.
The purchase, featuring two adjacent units on the 43rd floor of a premium residential tower, was officially registered on December 24. This move highlights the ongoing demand for high-end large-format homes in south and central Mumbai.
The two apartments boast a combined RERA carpet area of 12,114 sq ft, resulting in an average rate of approximately Rs 1.56 lakh per sq ft, ranking among the top residential transactions in India.
The family already owns a luxury apartment on the 12th floor of the same tower.
One of the new apartments spans a RERA carpet area of 6,772 sq ft, featuring a 629 sq ft balcony and a 367 sq ft open terrace. The price for this unit was around Rs 104.9 crore, which includes five designated car parking spaces, according to documents from Zapkey.com.
The second apartment was purchased for approximately Rs 85.2 crore and has a RERA carpet area of 5,342 sq ft, along with a 504 sq ft balcony and a 367 sq ft open terrace. This unit also includes five car parking slots.
Overall, the deal comprises 10 parking spaces and occupies nearly an entire floor. Property consultants note that such configurations are increasingly popular among families looking for long-term homes rather than investments.
Our inquiry sent to Ideal Cures went unanswered.
Worli is among India’s most expensive residential locales, attributed to limited new supply, proximity to vital commercial areas, and enhanced infrastructure connectivity, including the coastal road and the Bandra-Worli Sea Link. This area has witnessed a steady stream of significant residential deals, particularly from entrepreneurs and senior corporate leaders.
Property experts suggest that demand in the ultra-luxury segment remains strong, with buyers prioritizing location, size, and privacy, even as prices in prime south and central Mumbai continue to rise.
