Ravi Raheja, group president of real estate developer K Raheja Corp., and his wife Sumati Raheja have sold a 6,772 sq ft apartment in the ultra-luxury Raheja Artesia tower in Mumbai’s Worli for ₹121 crore, marking another high-value transaction in the city’s booming super-prime residential market.

The 44th-floor apartment, sold to Mumbai-based Ayurvedic products maker Shree Dhootapapeshwar Ltd, includes an additional 367 sq ft balcony or terrace space and six car parks. Factoring in the outdoor area, the deal values the property at roughly ₹1.7 lakh per sq ft, according to a report by livemint.com.

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.