Anand Rathi co-founder Pradeep Gupta, wife Priti buy Rs 140-crore apartment in Mumbai's Worli

Worli Sea Face has been the site of major property deals over the past year

Anand Rathi Financial Services' co-founder and vice chairman, Pradeep Gupta and his wife, Priti, have purchased a Rs 140-crore “ultra-luxury apartment” in Mumbai’s tony neighbourhood of Worli Sea Face, data accessed by CRE Matrix shows.

The agreement value for more than 10,000 square feet apartment in the Lodha Sea Face development was Rs 131.74 crore. The Guptas paid a stamp duty of around Rs 7.9 crore, taking the transaction size to nearly Rs 140 crore, the data shows.

The project, developed by Lodha Developers, formerly Macrotech Developers, is located on one of the larger land parcels around the Worli Sea Face neighbourhood. The project is coming up next to the Worli Dairy and has 30 residences, which have been snapped up by several prominent business leaders.

The agreement was registered on August 20. According to the documents, the unit is on the 40th floor of the building, with a net area of 10,539 square feet. It comes with space for parking seven cars.

On a carpet area basis, the Guptas paid around Rs 1,67,000 for a square foot rate, making it one of the most expensive deals in the micro-market, industry sources said.

Lodha Developers declined to comment. Moneycontrol has reached out to Anand Rathi Financial Services and the story will be updated once the response comes in.

Worli Sea Face has been a major draw for promoters and entrepreneurs as a luxury address but supply shortage has driven up prices in the area.

Seema Singh, one of the promoters of Alkem Laboratories, and Sudhir Menon, the promoter of the chemicals firm Dorf Ketal, have also purchased units in the Lodha Sea Face project.

Elsewhere in the area, USV's chairperson Leena Gandhi Tewari set the record for the most expensive residential property deal at the Naman Xana development, purchasing two duplex apartments for Rs 639 crore — paying Rs 2,83,000 per square foot.

Tanya Dubash, daughter of Godrej Industries chairman Adi Godrej, bought a duplex unit for Rs 225 crore, at Rs 2,20,000 per square foot, in the same project.