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Pharma Giants Snap Up Mumbai Luxury Homes
31 Oct
Summary
- Pharma company Gufic purchased a duplex apartment for ₹236.33 crore.
- The apartment is located in Lodha Avalon, Juhu, Mumbai.
- Other pharma promoters and executives are also buying luxury properties.
A significant real estate transaction has occurred in Mumbai's Juhu area, where pharmaceutical company Gufic Pvt. Ltd. acquired a duplex apartment for ₹236.33 crore. This purchase is part of a notable trend of pharmaceutical promoters and business executives becoming prominent buyers in luxury residential projects.
The under-construction apartment, located in Lodha Avalon, boasts a carpet area of 19,694 sq. ft and includes ten parking spaces. The deal, registered on October 21, values the property at approximately ₹1.2 lakh per sq. ft, marking it as one of the city's high-value residential transactions.
This trend underscores the current strength of Mumbai's luxury housing market, particularly in established, sea-facing locations. Pharma leaders are investing in large floor plates in premier seaside areas, viewing them as valuable generational assets. Previous high-value deals in the same project include purchases exceeding ₹100 crore by other industry leaders.
Other recent transactions in Lodha Avalon include an apartment bought for over ₹106 crore by Mehul Shah of Encube Ethicals and another for ₹113.42 crore by Ravi Kishorilal Jhunjhunwala. Directors of Sahastraa Advisors also purchased an apartment for ₹106 crore in 2025.
