Mumbai: Mehul Madhusudan Shah, director of pharmaceutical firm Encube Ethicals, along with Niti Mehul Shah, has purchased a luxury sea-facing apartment in Juhu for over Rs 100 crore.
According to property registration data sourced from Zapkey, the deal was registered on 31 July 2026. The buyers acquired Flat No. 1001 on the 10th floor of Avalon Tower A in Lodha Avalon, located on Juhu Tara Road. The property is recorded under CTS No. 859 Part.
The 9,862.88 sq ft apartment spans 916.29 sq.m and comes with 5 designated car parks. The transaction value stands at Rs 106.52 crore, translating to a rate of approximately Rs 1,08,001 per sq ft. The seller is listed as V Hotels Limited, represented by authorized signatory Vaibhav Kolwalkar.
The purchase comes at a time when Encube Ethicals recently filed its Draft Red Herring Prospectus with SEBI for a Rs 3,000 crore IPO.
Lodha Avalon in Juhu is among Mumbai’s premium residential developments and has seen several high-value deals in recent years, driven by demand for luxury sea-facing homes in the western suburbs.
This is one of the largest residential transactions recorded in Juhu in 2026 so far.
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