Mehul Shah Buys ₹106 Crore Juhu Flat

Mehul Madhusudan Shah, director of Encube Ethicals, has bought a luxury sea-facing flat in Juhu for ₹106.52 crore. The apartment, located in Lodha Avalon on Juhu Tara Road, was registered on July 31, 2026.

The flat, numbered 1001 on the 10th floor of Avalon Tower A, spans 9,862.88 sq ft and comes with 5 designated car parks. The transaction value translates to a rate of approximately ₹1,08,001 per sq ft.

Mehul Shah, along with Niti Mehul Shah, acquired the property from V Hotels Limited, represented by authorized signatory Vaibhav Kolwalkar. The purchase is one of the largest residential transactions recorded in Juhu in 2026 so far.

Encube Ethicals, the pharmaceutical firm where Mehul Shah is a director, recently filed its Draft Red Herring Prospectus with SEBI for a ₹3,000 crore IPO. The company's plans for the IPO are likely to be closely watched by investors and industry observers.

Lodha Avalon, where the flat is located, is among Mumbai's premium residential developments. The complex has seen several high-value deals in recent years, driven by demand for luxury sea-facing homes in the western suburbs.

The demand for luxury properties in Mumbai remains strong, with many buyers willing to pay high prices for premium locations and amenities. The western suburbs, particularly areas like Juhu and Bandra, are popular among buyers due to their proximity to the city center and access to amenities like beaches and restaurants.

The purchase of the flat by Mehul Shah is a significant transaction in the Mumbai real estate market. It highlights the ongoing demand for luxury properties in the city and the willingness of buyers to pay high prices for premium locations and amenities.

The deal is also a reflection of the growing wealth and prosperity of India's pharmaceutical industry, which has seen significant growth in recent years. Encube Ethicals, with its plans for a ₹3,000 crore IPO, is one of the many companies in the industry that is looking to expand its operations and increase its presence in the market.

In conclusion, the purchase of the luxury sea-facing flat in Juhu by Mehul Shah is a significant transaction in the Mumbai real estate market. It highlights the ongoing demand for luxury properties in the city and the growing wealth and prosperity of India's pharmaceutical industry.