Althera Pharma CEO Sanjeev Agarwal Acquires Three Luxury Apartments in South Mumbai for ₹72 Crore
Mumbai's luxury real estate market continues to attract high-net-worth individuals, with the latest transaction involving Sanjeev Agarwal, CEO of global pharmaceutical firm Althera. According to property registration documents accessed by Zapkey.com, Agarwal has acquired three luxury apartments in Raheja Modern Vivarea, South Mumbai, for a combined value exceeding ₹72 crore.
The purchase of the three apartments was completed in two phases, with transactions occurring in February 2025 and May 2024. The total RERA carpet area of these units exceeds 8,100 sq ft.
- The first apartment, measuring 2,891 sq ft with an additional 217 sq ft balcony, was acquired on February 17, 2025, for ₹26.42 crore.
- The second apartment, spanning 2,364 sq ft, was purchased on the same date for ₹20.09 crore.
- The third apartment, measuring 2,873 sq ft and featuring a 217 sq ft balcony, was bought earlier on May 22, 2024, for ₹26.14 crore.
The total value of the three units sums up to ₹72.65 crore. The transaction also involved a stamp duty payment of approximately ₹4.35 crore and registration fees amounting to ₹90,000.
Raheja Modern Vivarea, developed by K Raheja Corp, is among South Mumbai’s most sought-after residential projects. Known for its high-end amenities, strategic location, and ultra-luxurious residences, the project has been a preferred choice for top business executives and high-net-worth individuals (HNIs).
The apartments come with premium features, including expansive layouts, luxury finishes, and access to world-class amenities such as landscaped gardens, a high-tech fitness center, and concierge services. Additionally, the three apartments purchased by Agarwal include a total of seven dedicated car parking spaces.
The purchase by Althera’s CEO is part of a larger trend where prominent business leaders and investors are securing high-value properties in South Mumbai. Over the past few years, luxury real estate in the region has witnessed significant demand, particularly from corporate executives, entrepreneurs, and investors looking for premium residential spaces.
Notable high-value property transactions in recent years include:
- In September 2024, Kishore Bang, promoter of brokerage firm Nirmal Bang Securities, and his wife Suman Bang purchased two apartments in Raheja Modern Vivarea for ₹45.69 crore.
- In 2023, the promoters of Creative Plastics Group acquired eight luxury apartments in another K Raheja Corp Homes project in Mahalaxmi, with a total investment of ₹154.6 crore.
These transactions underscore the continued resilience of Mumbai’s high-end real estate segment despite market fluctuations. Experts suggest that the demand for luxury residences remains robust, driven by factors such as limited inventory, premium locations, and the prestige associated with landmark properties.
Luxury real estate investments have increasingly become a preferred asset class for India’s wealthy individuals, offering not only exclusivity but also long-term appreciation. With South Mumbai remaining one of the most premium residential markets, projects like Raheja Modern Vivarea continue to attract top buyers.
As market analysts point out, high-value transactions such as Agarwal’s recent purchase highlight confidence in Mumbai’s ultra-luxury real estate sector. With a mix of established business tycoons and emerging entrepreneurs entering this space, demand for high-end properties in prime locations is expected to remain strong in the coming years.
With a steady influx of HNIs looking to invest in premium properties, developers continue to introduce projects that cater to the highest standards of luxury living. While affordability remains a concern in Mumbai’s overall real estate landscape, the ultra-luxury segment continues to thrive, backed by demand from India's growing base of affluent investors.
