3 weeks ago
Encube Ethicals Director Mehul Shah Buys ₹100 Crore Juhu Flat
A businessman named Mehul Shah and his wife Niti bought a very big, fancy apartment in Mumbai.
The apartment is in Juhu, a place near the sea.
It cost more than 100 crore rupees, which is a huge amount of money.
The apartment is almost 10,000 square feet, much bigger than most homes.
It also comes with five parking spots for cars.
The sale was officially recorded on July 31, 2026.
The seller was a company called V Hotels Limited.
Mr. Shah is a director at a medicine company called Encube Ethicals.
That company is planning to raise money by selling shares to the public.
This is one of the biggest home sales in Juhu this year.
Mehul Madhusudan Shah, director of pharmaceutical firm Encube Ethicals, and Niti Mehul Shah purchased a sea-facing apartment in Juhu for over Rs 100 crore.
The deal was registered on 31 July 2026, according to property registration data sourced from Zapkey.
The 9,862.88 sq ft apartment is Flat No. 1001 on the 10th floor of Avalon Tower A in Lodha Avalon on Juhu Tara Road.
The transaction value stands at Rs 106.52 crore, around Rs 1,08,001 per sq ft, and includes 5 designated car parks.
The purchase comes as Encube Ethicals recently filed its Draft Red Herring Prospectus with SEBI for a Rs 3,000 crore IPO.
- Who
- Mehul Madhusudan Shah, director of Encube Ethicals, along with Niti Mehul Shah.
- What
- Purchased a luxury sea-facing apartment in Lodha Avalon, Juhu, for Rs 106.52 crore.
- Where
- Flat No. 1001, Avalon Tower A, Lodha Avalon, Juhu Tara Road, Juhu, Mumbai.
- When
- Registered on 31 July 2026.
- Why
- The article does not state a specific reason; the purchase coincides with Encube Ethicals filing its Draft Red Herring Prospectus with SEBI for a Rs 3,000 crore IPO.
Key facts
- Buyers
- Mehul Madhusudan Shah and Niti Mehul Shah
- Property
- Flat No. 1001, Avalon Tower A, Lodha Avalon, Juhu Tara Road
- Transaction Value
- Rs 106.52 crore
- Area
- 9,862.88 sq ft (916.29 sq.m)
- Rate
- Approximately Rs 1,08,001 per sq ft
- Registration Date
- 31 July 2026
- Seller
- V Hotels Limited
- Car Parks
- 5 designated car parks









