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Pharma money powers Mumbai’s luxury market, Blue Jet promoter snaps up ₹202-cr apartments
Akshay Bansarilal Arora, promoter of Blue Jet Healthcare, acquired two units in the super-luxury skyscraper Palais Royale from Honest Shelters Pvt Ltd.
Worli has emerged as a prime luxury real estate hotspot alongside South Mumbai, Lower Parel, Prabhadevi, and Bandra, with several projects crossing the ₹1 lakh per sq ft mark.
Mumbai’s Worli continues to attract big-ticket deals from India’s pharmaceutical elite, with the promoter family of Blue Jet Healthcare purchasing three luxury apartments worth over ₹202 crore, property registration documents accessed by Zapkey show.
Akshay Bansarilal Arora, promoter of Blue Jet Healthcare, acquired two units in the super-luxury skyscraper Palais Royale from Honest Shelters Pvt Ltd. Each 7,669 sq ft apartment, priced at ₹57.14 crore, comes with five car parking spaces.
In a separate transaction, Shiven Akshay Arora purchased a 7,747 sq ft residence in Raheja Artesia, Worli, for ₹88 crore. The apartment includes six parking spaces.
Worli has emerged as a prime luxury real estate hotspot alongside South Mumbai, Lower Parel, Prabhadevi, and Bandra, with several projects crossing the ₹1 lakh per sq ft mark.
The pharma sector’s interest in high-end housing has been evident in recent months. In one of India’s largest-ever residential deals, USV chairperson Leena Gandhi Tewari bought two luxury sea-facing duplexes in Worli for ₹639 crore, paying an additional ₹63.9 crore in stamp duty and GST—bringing the total transaction value to about ₹703 crore.
Earlier this year, the Zydus Family Trust, linked to Zydus Lifesciences Ltd, acquired a ₹200-crore luxury apartment in the same locality, while last year Vibha Shanghvi, wife of Sun Pharma chief Dilip Shanghvi, purchased two Worli apartments for ₹130 crore.
Industry experts say such deals reflect a post-pandemic wealth surge in the pharmaceutical industry, with high-end properties seen as both secure investments and symbols of status.
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