The victim was allegedly sexually assaulted by an unknown person on July 12.
"The teenager had tried to end his life by consuming poison on July 20. He was battling for life at hospital since then and died today," a senior police official said.
The victim's father had lodged a complaint at Powai police station.
In the complaint he had alleged that his son was sexually assaulted by an unknown person in Powai on July 12 and that drove him to end his life.
The accused is yet to be identified and further investigation into the matter is underway, the official said.