One of India’s costliest residential transactions to date saw pharma billionaire Leena Gandhi Tewari, chairperson of USV Ltd, spend ₹635 crore on two sea-facing duplexes in Naman Xana, Worli. Spread over four floors with a combined carpet area of 22,572 sq ft, the deal works out to ₹2.83 lakh per sq ft, setting a new national benchmark, as per ET.Over the past few years, India’s ultra-high-net-worth individuals (UHNWIs) have ramped up investments in residential real estate, reshaping the country’s luxury housing landscape. The headline numbers say it all. Tewari’s ₹639 crore twin duplex deal in Worli, the Kotak family’s ₹628 crore consolidation of nearly an entire sea-facing building in Mumbai, and DMart founder Radhakishan Damani’s ₹1,000 crore heritage bungalow acquisition in Malabar Hill.The message is clear. India’s wealthy are not limiting their investments to equities or startups. Increasingly, they are putting money into bricks and mortar. And not just any bricks and mortar but the most coveted addresses in the country.Also Read: Indian residential real estate hits new highs with record-breaking apartment deals in MumbaiWhat is driving the trend?Several factors are at play. First, there is growing conviction that luxury real estate in India is entering a golden phase. Demand for marquee properties is far outstripping supply, particularly in prime pockets such as Lutyens’ Delhi, Malabar Hill, Worli, and Golf Course Road in Gurugram. That scarcity is pushing prices into uncharted territory.Tewari’s purchase at ₹2.83 lakh per sq ft set a new national record. In Gurugram, DLF Camellias has seen rates reach as high as ₹1.17 lakh per sq ft according to Anarock and media reports. Furthermore, a recent Knight Frank report revealed that Mumbai, Bengaluru, and Delhi ranked among the top 15 global cities for prime residential price growth in Q1 2025, with Bengaluru placed fourth, Mumbai fifth, and Delhi fifteenth. The report tracked price movements across prime residential markets in 45 global cities, highlighting India's rising prominence in the luxury real estate segment.Also Read: This area in Delhi-NCR saw a 98% property price rise in the last 5 years, see how much property prices appreciated in your localityMany of these deals carry strategic value. Take the Kotak family’s near-total ownership of a sea-facing building in Worli. It is widely seen as a redevelopment play. These are not just end-use homes but investment vehicles, with long-term potential for high-yield luxury apartments or mixed-use projects.India’s top luxury residential dealsSl No.BuyerLocationDeal Value (₹ cr)Highlights1Radhakishan Damani (reportedly)Malabar Hill, Mumbai1,000Heritage bungalow; 1.5-acre plot; redevelopment potential2Leena Gandhi TewariWorli, Mumbai639Twin duplexes; ₹2.83 lakh/sq ft; 22,572 sq ft3Uday Kotak familyWorli Sea Face, Mumbai628 (426 + 202)21 of 24 flats; potential redevelopment4Kumar Mangalam BirlaMalabar Hill, Mumbai425Jatia House; 25,000 sq ft bungalow5J.P. Taparia familyThree Sixty West, Worli, Mumbai3696 apartments; 5,000 sq ft each6Rishi Parti & othersDLF Camellias, Gurugram285 (190 + 95)Penthouse + apartment; ₹1.17 lakh/sq ft7Nadir GodrejMalabar Hill, Mumbai1803 apartments in Ruparel House8Vasudha RohatgiGolf Links, Delhi1602,160 sq yd bungalow9Bhanu ChopraGolf Links, Delhi127.511,000 sq ft bungalow10Gaurav TrehanMalabar Hill, Mumbai885,381 sq ft flat with private deck(Sources: Industry data, media reports)What the numbers revealAccording to the Knight Frank Wealth Report 2024, India’s UHNWI population grew by six percent last year to reach 85,698. This number is expected to rise to 93,753 by 2028. Residential real estate now accounts for 32% of their investment portfolios, up from 25% in 2020. This is a notable shift towards tangible, high-value assets.India’s real estate sector began 2025 on a strong note. CBRE’s India Market Monitor Q1 report shows that equity investments surged to $3 billion in the January to March quarter, a 74% year-on-year jump driven by developer activity and increased interest in Real Estate Investment Trusts (REITs).The luxury housing segment stood out with sales up 28% year-on-year. Delhi-NCR led the surge, with a balance between new launches and demand. Bengaluru, Mumbai and Delhi-NCR together accounted for 67% of total equity inflows, showing their dominance as real estate hubs.Also Read: Looking to buy an apartment in Mumbai for Rs 1 crore? These areas in the suburbs look promisingHigh-end deals continue to set records. Nadir Godrej spent ₹180 crore on three apartments in Malabar Hill. Rishi Parti paid ₹190 crore for a penthouse in DLF Camellias. Even relatively new entrants such as RateGain founder Bhanu Chopra are buying into this segment with his ₹127.5 crore Golf Links bungalow.Several other marquee transactions, including a reported ₹500 crore sea-facing bungalow in Mumbai’s Cuffe Parade, remain confidential due to privacy clauses.This boom in ultra-luxury real estate is about more than just eye-popping prices. It reflects a structural shift in how India’s wealthiest individuals are allocating capital. With global real estate markets stagnating and Indian equities prone to volatility, many billionaires are looking inward for stability and finding it in landmark properties with enduring value.