Situated on the 30th floor of the soon-to-be-completed Lodha Sea Face tower in Worli, the apartment covers a vast 14,000 square feet and provides stunning views of the Arabian Sea.
Mumbai, known for its premium real estate market, has recently seen a significant property deal. Seema Singh, part of the prominent Alkem Laboratories’ promoter family, has secured a luxurious sea-view apartment in the prestigious Worli neighborhood, valued at Rs 185 crore. But who is Seema Singh? Well, she is a well-known figure in the pharmaceutical industry. She is married to Mrityunjay Singh and is a promoter of Alkem Labs, where she holds a 2.16% stake in the company.
This major property deal follows closely on the heels of a Rs 190 crore penthouse purchase by young tech entrepreneur Rishi Party in Gurgaon. Seema Singh’s acquisition stands out as one of the most notable real estate transactions in Mumbai for 2024.
Originating from Jehanabad in Bihar, Seema Singh has established herself as an important figure in the pharmaceutical industry. She owns a stake in Alkem Labs, a company co-founded by Samprada Singh and Basudeo Narayan Singh. Her connection to Alkem Labs highlights her significant role and stature within the industry.
Situated on the 30th floor of the soon-to-be-completed Lodha Sea Face tower in Worli, the apartment covers a vast 14,000 square feet and provides stunning views of the Arabian Sea. The Lodha Sea Face tower, a high-end residential development by Macrotech Developers, is located in one of Mumbai’s most exclusive areas, renowned for its luxurious apartments and towering skyscrapers.
Seema Singh’s purchase also includes nine parking spaces. This transaction is now considered the second-largest luxury apartment deal in Mumbai for 2024. The apartment was bought directly from the developer of the project, and the registration was finalized last Wednesday, with Singh reportedly paying Rs 9.25 crore in stamp duty.
Macrotech Developers is a leading real estate developer with a presence in several parts of India, including Mumbai, Pune, and Bengaluru. It sells properties under the brand name Lodha. According to Times Now, Seema Singh partially financed the purchase by selling 0.3 percent of her stake in Alkem Laboratories, which amounted to over 3.58 lakh shares. This sale earned her Rs 177 crore, which, along with additional funds, was used to acquire the luxury apartment.
Alkem is one of the biggest names in the generic and speciality pharmaceutical sector in India. “Fifty years ago, Alkem penned the first chapter of a remarkable journey with the vision of transforming India’s pharmaceutical sector. Today, with a footprint in 40 countries, 19 manufacturing units, over 800 brands, and many, many milestones later, we have an assemblage of tales enriched with pioneering work,” reads the official website.
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