Suresh Pareek, founder of a pharmaceutical firm called “Ideal Cures,” and his wife, Veena Pareek, have jointly acquired “two ultra luxury residential apartments” priced at a “total consideration of Rs 190 crore” in a prime locality called Worli, located in the “Mumbai” metropolitan city.
The deal has been recorded on the 24th of December 2025, according to the documentation obtained from the real estate analytical platform Zapkey.com. The two apartments are situated on the 43rd floor of the luxury residential building Raheja Artesia, a project of K Raheja Corp.
Altogether, the two apartments comprise a RERA Carpet Area of over 12,000 sq. ft., making it the largest residential deal to be recorded recently within the Worli area. The apartments were bought at a rate of around ₹1.56 lacs per sq. ft., which indicates the robust state of the ultra-luxury real estate market of Mumbai.
The two sellers of the two apartments are Chandru Raheja, the chairman of K Raheja Corp, and Jyoti Raheja, as per the registration details.
Apart from that, these units come equipped with two balconies that measure over 1,100 sq ft and two open terraces that measure over 700 sq ft. These units have unobstructed views, which have become an added necessity when it comes to luxury apartments in Mumbai.
The sale also came with 10 car parking spaces, which gives a glimpse of the magnitude of this sale.
The acquisition involved stamp duty of more than ₹11 crores paid by the buyers and a registration charge of ₹60,000, which was mandatory according to the norms existing in the state of Maharashtra for property registration.
The queries sent to K Raheja Corp and Ideal Cures did not receive any responses. Suresh Pareek and Veena Pareek could not be contacted at the time of going to print.•
Suresh Pareek is a venture capitalist and entrepreneur, the founder of Ideal Cures Pvt Ltd, which is a manufacturer of healthcare-related excipients. From his LinkedIn account, it is clear that Suresh Pareek exited the company in 2022, with 16 patents to his name as the inventor.
Pareek has not bought real estate of this value in Mumbai for the first time. According to media reports in 2022, he had bought a sea-facing luxury flat in Worli for over ₹64.57 crores.
The transaction adds to a growing trend of pharmaceutical entrepreneurs and executives making big-ticket investments in Mumbai’s luxury housing segment. According to Zapkey data, India’s ultra-luxury residential market saw transactions worth over ₹7,100 crore across 51 marquee deals in 2025, with Mumbai accounting for a significant share.
In 2025, the Indian ultra-luxury real estate sector witnessed one of its best years ever, with more than ₹7,100 crore being spent on 51 marquee deals in the residential segment. Out of these, the sales of around ₹1,530 crore in the Mumbai market were reflected in the pharmaceutical sector, as revealed by the data collected by Zapkey.
Industry experts note that post-pandemic wealth creation, combined with real estate’s appeal as both a store of value and status asset, continues to attract high-net-worth individuals to Mumbai’s top residential addresses.
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