MUMBAI: Real estate firm Shaula Real Estates has purchased a duplex apartment in a luxury housing project at Worli in Mumbai for nearly Rs 226 crore. Tanya Arvind Dubash, the eldest daughter of industrialist Adi Godrej, and Clement George Pinto are directors in Shaula Real Estates Pvt Ltd.
The purchased property is part of Naman Xana, an under-construction luxury residential project by Shree Naman Group. As per RERA, the project is spread over 0.64 acres and is scheduled for completion by 2027.
According to the IGR documents reviewed by property consultant Square Yards, the transaction was a primary sale and the apartment was purchased from Naman Residency Private Limited and Karp Estate Private Limited.
The duplex unit has a carpet area of 856 sq. m. (9,214 sq. ft.) and a balcony of 114 sq. m. (1,227 sq. ft.). The total built-up area of the apartment is 1,067 sq. m. (11,485 sq. ft.). The apartment includes six car parking spaces. The deal incurred a stamp duty of Rs. 13.55 crore and registration charges of Rs. 30,000, shpwed data shared by Square Yards.
Based on the total transaction value of Rs. 225.76 crore, the per sq. ft. rate works out to approximately Rs. 2.45 lakh on the carpet area of 856 sq. m. (9,214 sq. ft.). Based on the per sq. ft. rate, this is one of the most expensive residential real estate transactions in the country.
On the same total property value, the rate comes to around Rs. 1.97 lakh per sq. ft. on the total built-up area of 1,067 sq. m. (11,485 sq. ft.).
Shaula Real Estates Private Limited is an Indian private company incorporated on 26 March 2025 and is based in Mumbai.
Last month Naman Xana grabbed eyeballs after pharmaceuticals firm USV's chairperson, Leena Gandhi Tewari, purchased two duplex apartments for Rs 639 crore. It became India’s most expensive apartment purchase ever.
Market experts said that limited land supply, consistently high capital values and sustained interest from HNIs and corporate buyers are leading to such high value transaction in the area. Billionaire and banking tycoon Uday Kotak and his family purchased 12 luxury apartments for Rs 202 crore in Worli Sea Face between May 2024 and January 2025.
Infrastructure projects like the Mumbai Coastal Road and the metro network expansion are expected to improve Worli’s accessibility and support long-term demand. The location, upcoming infrastructure, and availability of premium sea-view residences continue to reinforce Worli’s position as a high-value real estate micro-market.