The family of Dharmesh Shah, Chairman and Managing Director of BDR Pharmaceuticals, has recently acquired two luxurious sea-view apartments in Mumbai’s Worli, with the combined value reaching close to Rs. 81 crores.
BDR Group Companies, BDR Pharmaceuticals International and BDR Life Sciences, are engaged in Active Pharmaceutical Ingredient (API’s) and formulation manufacturing, respectively. It focuses on development in four specialized therapeutic segments including oncology, critical care, gynaecology, and Neurology.
The family has bought a luxurious flat in the premium residential tower Raheja Artesia. This project is spread over a five-acre land parcel in Worli. The average price at which deals are witnessed in this project is approximately Rs. 1.25 lakh per sq. ft.
BDR Pharmaceuticals CMD has bought an apartment on the 39th habitable floor of this super premium project Raheja Artesia. The apartment has a carpet area of 6670 sq. ft. with over 367 sq. ft. balcony. The family has an exclusive access to seven car parking slots. The deal was registered at the rate of Rs. 1.25 lakh per sq. ft which the cost of the entire apartment to a whopping 81 crores.
Mumbai’s property market has been witnessing a notable surge across various segments, with prices showing a consistent upward trend. The city, known for its dynamic real estate landscape, has experienced heightened demand in both residential and commercial sectors.
In the residential segment, the market is characterised by a diverse range of offerings, from high-end luxury apartments to affordable housing projects. The increasing urban population and the city’s status as a financial and commercial hub has fuelled demand, contributing to the rise in property prices. Despite the challenges, the resilience and allure of Mumbai’s real estate market continue to attract investors and homebuyers alike.
The surge in stamp duty collection, driven by increased activity in the premium and mid-income housing segments, has consistently bolstered the state exchequer's revenue over the past several months.
Within the initial 10 months of the ongoing year, the state government has exceeded the all-time high in stamp duty collection, surpassing the 2022 record, with a total of over Rs 9,220 crore.
Beyond the heightened activity in premium housing across various key markets in the city, the substantial contribution to this performance has come from the most expensive apartments in South and Central Mumbai. The micro-market has witnessed many large-ticket record-setting transactions involving great personalities from the last 2 years.
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