BDR Pharma Chief's family acquires Mumbai Worli flats for Rs 810 mn
Real Estate

BDR Pharma Chief's family acquires Mumbai Worli flats for Rs 810 mn

BDR Pharmaceuticals? Chairman & Managing Director, Dharmesh Shah's family, has reportedly acquired two adjacent sea-view luxury apartments in Mumbai?s Worli locality at a total cost of nearly Rs 810 million. The apartments, situated on the 39th habitable floor of the super-luxury project Artesia, span a total of 6,670 sq ft carpet area with an additional 367 sq ft balcony space. The transaction has valued the apartments at over Rs 1.20 lakh per sq ft, positioning them among the most expensive property transactions in the country.

Both properties were purchased through two trusts, namely RDS Private Family Trust and BRD Square Private Family Trust, directly from the developer K Raheja Corp. Dharmesh Shah's wife, Binita, serves as the trustee for both trusts. According to the agreement, the buyer will also receive exclusive access to a total of seven car parking slots in the tower, as revealed by documents accessed through Zapkey.com. While one of the deals was officially registered on November 1, the registration for the second deal occurred two days later.

The super-premium residential tower, Raheja Artesia, occupies a 5-acre land parcel in Worli and has witnessed transactions at an average price of Rs 1.25 lakh per sq ft.

BDR Group companies, including BDR Pharmaceuticals International and BDR Life Sciences, are actively involved in Active Pharmaceutical Ingredient (APIs) and formulation manufacturing, respectively. Their focus is on development in four specialised therapeutic segments: oncology, critical care, gynaecology, and neurology.

Despite higher interest rates and escalating housing prices, Mumbai's property market, spanning luxury, premium, and mid-income segments, has consistently set new records over the last three years. The heightened activity in premium and mid-income housing segments has contributed to increased stamp duty collections, subsequently boosting the state exchequer?s revenue for several months.

BDR Pharmaceuticals? Chairman & Managing Director, Dharmesh Shah's family, has reportedly acquired two adjacent sea-view luxury apartments in Mumbai?s Worli locality at a total cost of nearly Rs 810 million. The apartments, situated on the 39th habitable floor of the super-luxury project Artesia, span a total of 6,670 sq ft carpet area with an additional 367 sq ft balcony space. The transaction has valued the apartments at over Rs 1.20 lakh per sq ft, positioning them among the most expensive property transactions in the country. Both properties were purchased through two trusts, namely RDS Private Family Trust and BRD Square Private Family Trust, directly from the developer K Raheja Corp. Dharmesh Shah's wife, Binita, serves as the trustee for both trusts. According to the agreement, the buyer will also receive exclusive access to a total of seven car parking slots in the tower, as revealed by documents accessed through Zapkey.com. While one of the deals was officially registered on November 1, the registration for the second deal occurred two days later. The super-premium residential tower, Raheja Artesia, occupies a 5-acre land parcel in Worli and has witnessed transactions at an average price of Rs 1.25 lakh per sq ft. BDR Group companies, including BDR Pharmaceuticals International and BDR Life Sciences, are actively involved in Active Pharmaceutical Ingredient (APIs) and formulation manufacturing, respectively. Their focus is on development in four specialised therapeutic segments: oncology, critical care, gynaecology, and neurology. Despite higher interest rates and escalating housing prices, Mumbai's property market, spanning luxury, premium, and mid-income segments, has consistently set new records over the last three years. The heightened activity in premium and mid-income housing segments has contributed to increased stamp duty collections, subsequently boosting the state exchequer?s revenue for several months.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code