India, May 30 -- Pharmaceutical firm USV's chairperson, Leena Gandhi Tewari, has bought two luxury sea-facing duplex apartments in Mumbai's posh Worli area for Rs.639 crore. She spent almost Rs.63.9 crore in stamp duty and GST, bringing the total value of the transaction to about Rs.703 crore, making it the most expensive residential property deal recorded in the country.

The transaction underscores a significant uptick in luxury housing demand, particularly from the pharmaceutical sector. Real estate experts believe the post-COVID wealth surge has prompted many pharma promoters and executives to view high-end properties as both a secure investment and a status symbol.

"Pharma wealth is increasingly flowing into real estate," said indus...