Suresh Pareek and Veena S Pareek, the promoters of Ideal Cures, a manufacturer of pharmaceutical excipients, have purchased two luxury residential apartments in the upscale Worli area of central Mumbai for a total of over Rs 190.1 crore.
The transaction, which involved the acquisition of two adjacent units situated on the 43rd floor of a premium residential tower in this micro-market, was officially registered on December 24. This acquisition demonstrates the ongoing interest from business promoters in large-format luxury homes located in south and central Mumbai.
The combined apartments offer a total RERA carpet area of 12,114 sq ft, resulting in an effective rate of approximately Rs 1.56 lakh per sq ft. This deal ranks among the highest-value residential transactions recorded in the country. The family already possesses a luxury apartment on the 12th floor of the same tower. One of the newly acquired apartments features a RERA carpet area of 6,772 sq ft, along with a 629 sq ft balcony and a 367 sq ft open terrace.
The purchase price for this apartment was around Rs 104.9 crore and includes five designated car parking spaces, as indicated by documents obtained from Zapkey.com. The second apartment, acquired for approximately Rs 85.2 crore, has a RERA carpet area of 5,342 sq ft, in addition to a 504 sq ft balcony and a 367 sq ft open terrace.
This unit also includes rights to five car parking slots. In total, the transaction encompasses 10 car parking spaces and occupies nearly an entire floor. Property consultants indicate that such configurations are increasingly favored by promoter families who are looking for long-term residences rather than properties intended solely for investment.
Worli continues to be one of the most costly residential micro-markets in the country, bolstered by limited new supply, its closeness to major commercial areas, and enhancements in infrastructure connectivity, such as the coastal road and the Bandra-Worli Sea Link.
The micro-market has experienced a consistent influx of high-value residential transactions, especially from founders, promoters, and senior corporate executives. Property consultants have indicated that demand in the ultra-luxury segment has remained strong, with buyers prioritizing location, size, and privacy, even as prices in prime South and Central Mumbai continue to rise.
