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Zandu Family's ₹110 Cr Worli Deal: Mumbai Luxury Property Insights
Introduction
Every few months, Mumbai's property registration data throws up a name that makes people pause mid scroll. This time it's a family once associated with a balm found in nearly every Indian medicine cabinet, quietly closing one of the city's biggest apartment deals of the year.
The Deal at a Glance
A company linked to the erstwhile promoter family of Zandu Pharmaceuticals has picked up a luxury apartment in Worli for just over Rs 110 crore. The transaction, registered on July 29, 2026, works out to a precise figure of Rs 110.41 crore, translating to roughly Rs 1.51 lakh per square foot once you factor in the total usable area.
Who's Buying and Who's Selling
The buyer here is Tejal Mercantile Private Limited, acting through its director Nihar Ajay Parikh. On the other side sits Oberoi Realty, one of Mumbai's most established luxury developers, represented in the paperwork by authorised signatory Abhishek Bajoria. It's a fairly clean corporate to developer transaction, the kind that shows up in registration filings well before it makes headlines.
Inside the 7,300 Square Foot Address
The apartment itself sits on the 62nd floor, which works out to the 46th habitable level, of Tower B at Three Sixty West, the sea facing development off Annie Besant Road. Its registered RERA carpet area comes to 678.5 square metres, close to 7,303 square feet once you add in the adjacent balcony and open space. Five car parking slots come bundled with the unit, a detail that matters more than it sounds in a building where parking alone can be a genuine flex.
What the Per Square Foot Rate Actually Tells Us
A rate of roughly Rs 1.51 lakh per square foot places this comfortably among the pricier transactions logged in Worli this year, though not the outright highest. For comparison, a Raheja Artesia unit changed hands earlier in 2026 at closer to Rs 1.82 lakh per square foot, while a Lodha Sea Face penthouse sold in late 2024 at over Rs 1.24 lakh per square foot on a much larger 14,866 square foot footprint. Price per square foot in this micro market swings noticeably based on floor height, view angle and how recently the tower was completed.
Three Sixty West's Growing Guest List
This particular building has quietly built a roster of high profile owners over the past couple of years. Names linked to the tower include DMart's promoter family, the Everest Masala Group, and several Bollywood figures who've bought and, in at least one case, resold units for tens of crores. A pharma family entering that mix isn't unusual anymore, it's practically become the expected pattern for Worli's tallest addresses.
Worli's Bigger Luxury Story This Year
Zoom out and this deal fits a much larger pattern playing out across the neighbourhood through 2025 and 2026. Alkem Laboratories' promoter Seema Singh bought a penthouse nearby for Rs 185 crore. Promoters connected to Blue Jet Healthcare spent over Rs 202 crore across three separate homes. A co-founder from the Anand Rathi financial services family closed a deal near Rs 90 crore at Palais Royale. Pharma and financial services wealth, it turns out, has developed a distinct preference for this particular stretch of South Mumbai.
Why Family Offices Keep Choosing Real Estate
There's a reason corporate entities rather than individuals often show up as buyers in these filings. Purchasing through a company structure like Tejal Mercantile offers cleaner asset management for family offices juggling multiple holdings, alongside tax and succession planning advantages that a personal purchase wouldn't offer as neatly. It's less about hiding ownership and more about how large family fortunes typically organise real estate acquisitions.
What This Signals for South Mumbai
Deals of this size rarely happen in isolation. Each one nudges the benchmark rate for surrounding towers upward slightly and reassures developers that demand for ultra premium inventory in Worli hasn't cooled, even with broader residential sales showing mixed signals elsewhere in the city.
Summary
The former Zandu Pharmaceuticals promoter family's Rs 110 crore Worli apartment purchase adds another entry to a growing list of pharma and business families anchoring their wealth in South Mumbai's tallest towers. At Three Sixty West, a building already home to several prominent names, this deal reinforces just how concentrated India's ultra luxury housing demand has become in a handful of addresses, where price per square foot increasingly rivals what buyers pay in global cities like London or Singapore.
August 10, 2026
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