Angel One Founder Dinesh Thakkar Acquires Entire Juhu Luxury Tower for ₹711 Crore

 

MUMBAI : Mumbai’s ultra-luxury residential market has recorded another landmark transaction, with Dinesh Thakkar, founder, chairman and managing director of Angel One, agreeing to acquire an entire residential tower at Embassy Developments’ Embassy Terrazza project in Juhu for approximately ₹711 crore. The developer has described the transaction as India’s largest single residential unit transaction.

Located on Juhu Tara Road, the property comprises a complete ground-plus-seven-storey tower with a RERA carpet area of approximately 63,000 sq ft. Based on the reported transaction value, the deal translates to around ₹1.13 lakh per sq ft of RERA carpet area.

The acquisition highlights the growing appeal of large-format, low-density luxury residences in Mumbai’s established premium neighbourhoods. Embassy Terrazza is spread across more than two acres and comprises around 50 residences across five towers, with one residence planned on each floor. The project offers sea and city views along with landscaped gardens and lifestyle and wellness amenities.

Thakkar has named his residence ‘Angelus’ and said privacy, spaciousness and sea views were key considerations behind the purchase. The home is intended to serve as a long-term family residence.

The transaction comes at a time when Mumbai’s luxury housing market continues to see demand for exclusive, larger residences in locations such as Juhu, Bandra and Worli. Limited availability of sizeable homes in established neighbourhoods has contributed to the premium commanded by such properties.

For Embassy Developments, Embassy Terrazza has an estimated gross development value of more than ₹3,000 crore. The project is being developed under a development management model.

The ₹711-crore transaction underlines how Mumbai’s ultra-luxury segment is increasingly catering to buyers seeking space, privacy, exclusivity and premium locations, rather than conventional apartment ownership. It also demonstrates the scale of capital being deployed at the very top end of the city’s residential property market.

By : The Realty Times — Real Estate News, Property Insights & Market Updates