Mumbai real estate: Directors of financial consulting firm buy ₹106 crore apartment in Juhu
The apartment in Lodha Group's Avalon Tower was purchased for over ₹1 lakh per sqft, setting a new benchmark for the Juhu locality, according to local brokers
Directors of a financial consulting firm Sahastraa Advisors Private Limited have purchased a luxury apartment at Avalon Tower in Mumbai's Juhu area for ₹106 crore, according to property registration documents accessed by Zapkey.com.
Paresh Shah and Avni Shah, who also trade in stocks, are the directors of the financial consulting firm Sahastraa Advisors Private Limited.
The apartment on Juhu Tara Road was sold for over ₹1 lakh per sq ft. According to local brokers, the transaction sets a new benchmark for the Juhu locality, where an apartment was sold for above ₹1 lakh per sq ft.
V Hotels Ltd, which was last year acquired by Macrotech Developers, also known as Lodha Group, is constructing the project. The MahaRERA completion date is September 2028.
The documents accessed by Zapkey.com show that the 9,863-square-foot apartment is located on the seventh floor of Avalon Tower.
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The apartment was purchased along with five car parking spaces for which the transaction was registered on January 19, 2025.
A stamp duty of ₹6.39 crore and a registration fee of ₹30,000 was paid to purchase the apartment, the documents showed.
An email has been sent to Macrotech Developers. The copy will be updated in case a response is received. Paresh Shah and Avni Shah could not be reached.
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In April 2024, the National Company Law Tribunal, Mumbai Bench (NCLT) had approved Macrotech Developers to acquire Mumbai-based V Hotels Ltd, owner of Tulip Star in Juhu, earlier known as the iconic Centaur Hotel.
Under the said resolution plan, the Lodha Group announced in April 2024 that it would pay ₹ 900 crore in tranches over 270 days. The company said in a regulatory filing that the first tranche of ₹ 90 crore has already been remitted.
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The company announced in 2023 that V Hotels has real estate assets that can be developed for residential and allied uses.
