Angel One founder Dinesh Thakkar to buy entire Juhu tower for about ₹711 crore

Mumbai, September 22, 2026: Embassy Developments Limited has signed a Memorandum of Understanding (MoU) with Dinesh Thakkar, founder, chairman and managing director of Angel One Limited, for the sale of an entire residential tower at its ultra-luxury Embassy Terazza project in Juhu for approximately Rs 711 crore.The market rate in Juhu ranges from Rs 70,000 per sq ft to Rs 1.3 lakh per sq ft depending on the project site and sea view.Entire Tower Sold In JuhuAccording to the company, the transaction is India’s largest single residential unit deal. The residence comprises an entire ground-plus-seven-storey tower with a RERA carpet area of 63,000 sq ft.Located on Juhu Tara Road, Embassy Terazza is spread across more than two acres and comprises approximately 50 residences. The project has an estimated gross development value exceeding Rs 3,000 crore and is being developed under a development management model.The development features one residence per floor across five towers, along with sea and city views, landscaped internal gardens and wellness and lifestyle amenities.Thakkar Names Residence 'Angelus'Commenting on the transaction, Jitendra Virwani, Chairman, Embassy Developments Limited, said, “Over the last three decades, Embassy has built a deep understanding of what today’s homebuyers value most. We have brought that same philosophy to Mumbai, and in a relatively short period, it has resonated with some of the country's most discerning buyers. Mr. Dinesh Thakkar's acquisition of an entire tower at Embassy Terazza is a strong endorsement of that vision and the trust the Embassy brand has earned in Mumbai within 18 months of launching in the city.”Dinesh Thakkar said, “‘Angelus’ is what we have named our new dream home, which is being crafted into reality by the Embassy Group. Embassy Terazza brings together all these aspirations in one project.”He added, “For a home of this scale, trust in the developer matters as much as the residence itself. I very much look forward to seeing Angelus at Embassy Terazza take shape as a very special home for our family.”Embassy Expands Mumbai PortfolioEmbassy Terazza is part of Embassy Developments’ expanding residential portfolio in the Mumbai Metropolitan Region, which also includes Embassy Citadel in Worli, Embassy Serenity in Alibaug, Embassy Park in Panvel and Embassy One in Thane.Also Watch: Mumbai Real Estate: Redevelopment Pipeline Could Unlock Nearly 59,000 Homes Worth ₹1.5 Lakh Crore By 2031, Knight Frank Data ShowsIn July, property consultant India Sotheby's International Realty and data analytics firm CRE Matrix said sales of luxury homes, each costing Rs 10 crore and above, in Mumbai rose 12 per cent annually to a record Rs 18,512 crore in the first half of this year on better volumes and price rise.In terms of volumes, the sales increased to 957 units from 761 units.To get details on exclusive and budget-friendly property deals in Mumbai & surrounding regions, do visit: https://budgetproperties.in/

Dinesh Thakkar, founder and CMD of financial-services company and stockbroking firm Angel One, has entered into an agreement with Embassy Developments to purchase an entire luxury residential tower in Mumbai’s Juhu locality for over Rs 711 crore, said persons with direct knowledge of the development.This is among the largest single residential transactions anywhere in the country and the biggest this year, underscoring continued demand for ultra-luxury homes in Mumbai’s established high-value residential markets.134400511The residence comprises an entire G+7 storey tower, Embassy Terazza, on Juhu Tara Road with a RERA carpet area of 63,000 sq. ft. This puts the value of the transaction at around Rs 1.13 lakh per sq ft, a new record for residential properties in Juhu.The agreement for the transaction was inked last week.Also read: Factory floor or family office? India’s young rich alarm elders134401542The transaction gives Thakkar ownership of the entire tower rather than an individual apartment, making it one of the largest high-value residential purchases in the country in terms of both ticket size and the quantum of residential space acquired in a single transaction.The ultra-luxury project is part of a five-tower development spread over 2 acres of land with 50 residences and has an estimated Gross Development Value (GDV) of over Rs 3,000 crore. This project, scheduled to be completed by December 2031, is being executed by Embassy Developments under a development management model.Demand for luxury and ultra-luxury housing in Mumbai has remained resilient, with high-net-worth individuals and business promoters continuing to seek large-format residences in established premium neighbourhoods.The segment has also seen a rise in high-value transactions as buyers increasingly seek larger homes, privacy and exclusivity, particularly in locations such as Juhu, Bandra and Worli. Limited availability of sizeable residential inventory in these established markets has further supported values at the top end of the housing market.Juhu has emerged as one of Mumbai’s prominent ultra-luxury residential markets, with demand concentrated around large-format residences offering privacy, larger floor plates and premium amenities. The locality’s proximity to the western suburbs’ established social infrastructure, the airport and commercial districts has also supported demand for high-end homes.ET’s email queries to Dinesh Thakkar’s team and Embassy Developments remained unanswered.The transaction comes amid a broader increase in the value of individual residential deals in Mumbai, particularly at the top end of the market. While the number of such transactions remains limited, large-ticket purchases by business promoters and senior corporate executives have become an important segment of the city’s luxury housing market.The per-sq-ft value in the Thakkar transaction also highlights the premium commanded by scarce, large-format residential inventory in established locations such as Juhu. The acquisition of an entire tower further differentiates the transaction from conventional luxury apartment purchases, where buyers typically acquire individual residences within a larger development.