In yet another high-value real estate deal involving a pharmaceutical company, Gufic Private Limited, has purchased a luxury duplex apartment in Lodha Avalon, located on Juhu Tara Road in Mumbai, for ₹236.33 crore, property registration documents accessed through Zapkey showed.
The apartment has a carpet area of 19,694 sq ft and comes with 10 car parking spaces. The transaction values the property at approximately ₹1.2 lakh per sq ft, the documents showed.
The deal was registered on Oct 21, 2026.
The buyer and the seller could not be reached for a response.
According to Sandeep Reddy, co-founder Zapkey, pharma leaders buying marquee homes is an unmistakable trend across Mumbai’s luxury landscape today. With solid business earnings and high conviction, corporate promoters are decisively locking in rare, large floor plates in premier seaside locations as generational assets
Other deals on Juhu Tara Road
Earlier this year, Mehul Madhusudan Shah, founder, promoter, chairman, and managing director of Encube Ethicals, along with Niti Mehul Shah, purchased a luxury apartment in Mumbai's Juhu for ₹106.52 crore, according to property registration documents accessed by Zapkey.
{{/usCountry}}Earlier this year, Mehul Madhusudan Shah, founder, promoter, chairman, and managing director of Encube Ethicals, along with Niti Mehul Shah, purchased a luxury apartment in Mumbai's Juhu for ₹106.52 crore, according to property registration documents accessed by Zapkey.
{{/usCountry}}The apartment is located on a higher floor of Avalon Tower A at Lodha Avalon on Juhu Tara Road. The property was purchased from V Hotels Limited, represented by its authorised signatory, Vaibhav Kolwalkar, and the transaction was registered on July 31, 2026.
Last year, directors of a financial consulting firm Sahastraa Advisors Private Limited purchased a luxury apartment at Avalon Tower in Mumbai's Juhu area for ₹106 crore, according to property registration documents accessed by Zapkey.com. The apartment on Juhu Tara Road was sold for over ₹1 lakh per sq ft. Local brokers had then said that the transaction sets a new benchmark for the Juhu locality, where an apartment was sold for above ₹1 lakh per sq ft.
In 2025, Heena Lalwani, promoter of Aatman Innovations Private Limited, a company engaged in publishing, distributing, and marketing books, had purchased a luxury apartment for ₹113.42 crore in Mumbai’s Juhu, according to property registration documents accessed by Zapkey.com. The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was bought at ₹1.15 lakh per sq ft and includes five car parking spaces, the documents showed.
Luxury housing market and pharma deals
India’s ultra-luxury housing market saw one of its strongest years on record in 2025, with wealthy individuals and entities spending over ₹7,100 crore on 51 marquee residential transactions. Of this, properties worth about ₹1,530 crore in Mumbai had direct links to buyers from the pharmaceutical sector, according to data collated by Zapkey.
The trend highlights a sharp rise in luxury home purchases by pharma entrepreneurs and executives, driven by post-COVID wealth creation and a growing preference for real estate as both a safe haven and a status asset. “Pharma money is clearly flowing into real estate,” said an industry expert.
The highlight of 2025 was pharmaceutical firm USV chairperson Leena Gandhi Tewari’s purchase of two ultra-luxury sea-facing duplex apartments in Mumbai’s Worli for nearly ₹739 crore, the largest single residential deal ever recorded in India. The apartments are located in Naman Xana, a 40-storey premium tower on Worli Sea Face, and span the 32nd to 35th floors. Together, they cover 22,572 sq ft, with the deal valued at over ₹2.83 lakh per sq ft on carpet area, as per registration documents dated May 28, 2025 shared by Zapkey.