Gufic buys luxury Mumbai duplex

Gufic Private Limited, a pharmaceutical firm, recently purchased a high-end duplex in Mumbai’s Juhu area for INR 236.33 crore, reinforcing the surge in ultra-premium real estate deals within the city’s elite housing sector.

The apartment is situated within Lodha Avalon, a residential project currently under development by Lodha Developers, located on Juhu Tara Road.

Property registration documents, obtained via the real estate data platform Zapkey, reveal that the apartment boasts a carpet area of 19,694 sq ft and includes 10 exclusive car parking spaces.

Transaction Details

This transaction equates to roughly INR 1.20 lakh per sq ft based on carpet area, positioning it as one of the significant luxury residential purchases in Mumbai.

The transaction was executed on October 19, 2026, and registered on October 21. Gufic paid approximately INR 14.18 crore in stamp duty for the registration.

Vipula Jayesh Choksi, the director of Gufic, represented the company, while Solomon Sasane, the authorized signatory, acted on behalf of the seller, V Hotels Ltd, as per registration records.

Market Trend

The purchase includes a spacious duplex on the 14th floor of a tower at Lodha Avalon, a project on Juhu Tara Road known for its high-end residential developments and convenient access to Mumbai’s coast, business hubs, and entertainment areas.

Gufic specializes in the research, development, production, and distribution of pharmaceutical and herbal products, including active pharmaceutical ingredients (APIs) and lyophilized injections, with a presence in international markets.

In July 2026, Mehul Madhusudan Shah, the founder and chairman of Encube Ethicals, along with his wife Niti Shah, bought an apartment in the same complex for INR 106.52 crore.

Another apartment in the project was acquired by businessman Ravi Kishorilal Jhunjhunwala and his wife Sarita Jhunjhunwala for INR 113.42 crore in August 2026, according to property registration data.

Ultra-Luxury Housing Market

According to data collated by Zapkey, India’s ultra-luxury housing market recorded 51 major residential transactions worth more than INR 7,100 crore in 2025. Of this, Mumbai accounted for approximately INR 1,530 crore in luxury home purchases linked to buyers from the pharmaceutical sector.

One of the largest transactions involved USV chairperson Leena Gandhi Tewari, who acquired two sea-facing duplex apartments in Worli for nearly INR 739 crore in May 2025.