Parekh Family’s Iconic Investment: Luxury Apartments in Mumbai’s Worli Redefine Real Estate Benchmarks

The shimmering skyline of Mumbai witnessed a historic moment as two record-breaking real estate transactions unfolded in the posh locality of Worli. The Parekh family, known for their ownership of Barnsley Football Club in Yorkshire, has made waves by acquiring luxury apartments worth a staggering ₹170 crore in the heart of Mumbai’s real estate epicenter.

This momentous deal not only cements Worli’s position as the crown jewel of Mumbai’s luxury housing market but also highlights the soaring demand for ultra-premium properties despite challenging global economic conditions.

The First Jewel: A Palatial Abode on Worli’s Elite Street

On December 7, 2024, Kalpana A. Parekh took ownership of a sprawling 7,104-square-foot apartment at Naman Xana, located on the prestigious Khan Abdul Gaffar Khan Road. The transaction was sealed at an impressive ₹65 crore, including a hefty stamp duty of ₹3.25 crore.

This lavish property features four exquisite bedrooms and exudes opulence with a per square foot valuation of ₹91,496. The apartment's design and amenities underscore the high expectations of discerning buyers who seek nothing but the best in luxury living.

The Crown Jewel: A Spectacular Duplex That Sets New Standards

Just two days earlier, on December 5, 2024, Neerav A. Parekh acquired an extraordinary duplex spread across two floors—23 and 24—at the same prestigious address. This breathtaking property spans an enormous 10,441 square feet and was purchased for ₹105 crore, inclusive of a stamp duty of ₹6.30 crore.

Boasting six lavish bedrooms, the duplex sets a remarkable benchmark with a per square foot price of ₹1,00,561. This sale not only emphasizes the exclusivity of Worli but also reflects the soaring aspirations of Mumbai’s elite class.

Worli: The Pinnacle of Luxury Living

The upscale neighborhood of Worli has long been synonymous with luxury and exclusivity. With its prime location, stunning sea views, and proximity to business hubs, it continues to attract high-net-worth individuals (HNWIs) seeking an unmatched lifestyle.

These record-breaking transactions by the Parekh family are expected to have a ripple effect across Mumbai’s luxury real estate sector, potentially driving prices even higher. For industry observers, this underscores the resilience and allure of Mumbai’s prime property market.

Developer Spotlight: Shree Naman Residency Pvt Ltd

Behind these landmark deals stands Shree Naman Residency Pvt Ltd, a name synonymous with premium living spaces. Known for delivering cutting-edge architectural marvels tailored to the tastes of affluent clientele, the developer has solidified its reputation as a leader in Mumbai’s luxury real estate segment.

These remarkable sales reaffirm the developer’s position as a pioneer in setting new benchmarks for high-end properties, ensuring a lasting legacy in the city’s luxury housing sector.

A Vision for Mumbai’s Luxury Real Estate Future

As Mumbai’s luxury real estate market continues to evolve, the acquisitions by Kalpana and Neerav Parekh serve as pivotal moments. They symbolize the unyielding appeal of upscale properties in neighborhoods like Worli and provide insights into the sector’s dynamics.

Industry experts are closely watching these transactions, anticipating their impact on future investments and price trends in the ultra-luxury segment.