Promoters sell apartment at Raheja Artesia in Worli for ₹121 crore

Bengaluru: Ravi Raheja, group president of real estate firm K Raheja Corp., and his wife Sumati Raheja, have sold a 6,772 square feet apartment at Raheja Artesia, a super-luxury tower in Mumbai’s Worli for ₹121 crore.

The sale to Shree Dhootapapeshwar Ltd comes amid a wave of record-setting deals in the city’s most expensive real estate strip.

The apartment, on the 44th floor, has an additional 367 sq ft balcony space or open terrace. On a per-square-foot basis, factoring in the outdoor space, the transaction worked out to around ₹1.7 lakh per sq ft. The apartment comes with six car parks.

The sale was registered on 26 February, as per documents accessed by real estate data analytics firm CRE Matrix.

Raheja Artesia is a well-known luxury project by K. Raheja Corp Homes that has been completed and delivered.
Shree Dhootapapeshwar Ltd, a Mumbai-based company, makes and sells Ayurvedic products and supplements.

Typically, real estate promoters own some inventory in their projects, which they sell as prices of the property appreciate. Recently, Radha Tanti, angel investor and wife of Suzlon Energy executive vice chairman Girish Tanti, bought an apartment in Raheja Artesia for ₹123.5 crore from Ravi and Sumati Raheja.

Earlier, promoters of the group, Chandru Raheja and Jyoti Raheja sold two residences in the same property to the promoters of Ideal Cures Pharma, Suresh Pareek and Veena Pareek, for a combined ₹190.1 crore, at around ₹1,35,970 per sq ft.

The transactions come as Worli’s luxury market scales new peaks, with multiple deals above ₹100 crore in 2024 and 2025, and marquee projects attracting billionaire buyers at record prices.

Limited supply, prime sea-facing locations and rising demand are cementing the neighbourhood’s status as Mumbai’s “billionaire street”. Projects in Worli such as Naman Xana, Three Sixty West and Lodha Sea Face have seen high-profile personalities buying homes.

“A ₹121 crore transaction reflects the depth of Mumbai’s ultra-luxury housing market. At this end of the spectrum, UHNIs are not just buying homes — they are allocating serious capital into Mumbai’s prime residential addresses, viewing them as both a lifestyle upgrade and a long-term wealth asset,” said Abhishek Kiran Gupta, chief executive, CRE Matrix.

A K Raheja Corp spokesperson did not respond to Mint’s queries. Shree Dhootapapeshwar Ltd could not be reached immediately.

Last year, Blue Jet Healthcare managing director Shiven Akshay Arora picked up a 7,747 sq. ft apartment in Raheja Artesia for ₹88 crore in a resale deal.