Management of Sahastraa Advisors buys Luxury Home in Mumbai for Rs. 106 crore

According to property registration documents obtained by Zapkey.com, directors of the financial consulting firm Sahastraa Advisors Private Limited have paid Rs. 106 crore for a luxurious apartment at Avalon Tower in the Juhu neighborhood of Mumbai.

The directors of the financial consultancy company Sahastraa Advisors are Paresh Shah and Avni Shah, both of whom are stock traders.

The Juhu Tara Road apartment sold for more than one lakh rupees per square foot. Local brokers claim that the deal establishes a new standard for the Juhu neighborhood, where an apartment was sold for more than Rs. 1 lakh per square foot.

The property is being built by V Hotels Ltd, which Macrotech Developers, popularly known as Lodha Group, purchased last year. September 2028 is when MahaRERA is expected to be finished.

The 9,863-square-foot apartment is situated on the seventh floor of Avalon Tower, according to the paperwork that Zapkey.com was able to uncover.

The National Company Law Tribunal, Mumbai Bench (NCLT) gave Macrotech Developers permission in April 2024 to purchase Mumbai-based V Hotels., the proprietor of the Tulip Star in Juhu, formerly the famous Centaur Hotel.

The Lodha Group said in April 2024 that it will pay Rs. 900 crore in installments over 270 days in accordance with the above-mentioned settlement plan. In a regulatory statement, the business stated that the Rs. 90 crore first payment had already been sent.

In 2023, the business declared that V Hotels possesses real estate holdings that could be developed for residential and related purposes.