The promoter family of Anand Rathi Group has purchased a luxury flat worth Rs 1.32 billion in Lodha Developers’ under-construction Lodha Sea Face project at Worli, Mumbai. The deal marks yet another high-value acquisition in the city’s most sought-after residential enclave.

The 10,538 sq ft apartment, located on the 40th floor of the tower, was bought by Pradeep Gupta, co-founder and vice-chairman of Anand Rathi Financial Services Ltd, and his wife Priti Gupta, managing director of Anand Rathi Share and Stock Brokers Ltd. The purchase includes seven parking spaces. According to property registration documents accessed by CRE Matrix, the transaction was registered on 20 August 2025.

Lodha Sea Face is an ultra-luxury development with only 30 residences. Recent buyers include Seema Singh, promoter of Alkem Laboratories, who acquired a unit for Rs 1.85 billion, and SR Menon Properties LLP, which purchased a 15,000 sq ft unit for Rs 1.87 billion.

Commenting on the trend, Abhishek Kiran Gupta, CEO and co-founder of CRE Matrix, said: “This transaction reaffirms Mumbai’s unmatched position in India’s luxury housing market. With prices crossing Rs 125,000 per sq ft, Worli continues to attract the country’s leading business families and wealth creators.”

Worli’s property market has seen a sharp surge in ultra-luxury deals. In 2024 alone, 10 homes were sold above Rs 1 billion each, compared with four in the previous year. According to Anarock Property Consultants, a total of 30 homes priced above Rs 400 million—worth Rs 48.62 billion combined—were sold in Worli in 2023 and 2024.

Other recent transactions include Tanya Dubash of Godrej Industries, who bought a duplex worth Rs 2.26 billion at Naman Xana, and Amit Rathi of QiCAP.Ai, who purchased a luxury flat at Palais Royale for Rs 900 million. The promoter family of Blue Jet Healthcare also acquired three high-end homes worth more than Rs 2.02 billion earlier this year.

Worli’s sea-facing developments, including Lodha Sea Face, Naman Xana and The Legacy, are being dubbed Mumbai’s new “billionaires’ street,” reflecting the neighbourhood’s rising dominance in India’s luxury housing landscape.