Angel One founder Dinesh Thakkar buys entire Juhu tower for ₹711 cr

Dinesh Thakkar, founder, chairman and managing director of Angel One, has agreed to buy an entire residential tower at Embassy Developments’ ultra-luxury project Embassy Terazza in Mumbai’s Juhu for approximately ₹711 crore.

Embassy Developments Limited (EDL) said on Tuesday that it had signed a Memorandum of Understanding (MoU) with Thakkar for the sale of the tower. The company described the transaction as the largest single residential unit transaction in the country.

The residence comprises an entire ground-plus-seven-storey (G+7) tower with a RERA carpet area of 63,000 sq ft.

At the stated transaction value, the deal works out to roughly ₹1.13 lakh per sq ft of RERA carpet area.

What is Embassy Terazza?

Embassy Terazza is an ultra-luxury residential development on Juhu Tara Road, one of Mumbai’s premium residential locations.

The project is spread across more than 2 acres and is planned to have approximately 50 residences. Embassy Developments said the project has an estimated gross development value (GDV) of more than ₹3,000 crore.

The development is designed around a low-density format, with one residence per floor across five towers, according to the company.

The project includes panoramic sea and city views, large layouts, internal gardens and wellness and lifestyle amenities.

Embassy Developments is developing the project under a development management (DM) model.

Angel One founder buys entire Embassy Terazza tower in Juhu for ₹711 crore

Thakkar’s ‘dream home’

Thakkar said the decision to buy the property was driven by privacy, space and sea views.

He said the family home has been named “Angelus” and described the property as a long-term family residence.

“For a home of this scale, trust in the developer matters as much as the residence itself,” Thakkar said, adding that he looked forward to seeing the residence take shape.

““Juhu has always had a special character that very few locations in Mumbai can match. When I started looking for a new home, my focus was on privacy, spaciousness, exceptional sea views and creating a luxurious, iconic sanctuary that would become our family home.

‘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.

To turn this dream into reality, I placed my confidence in Embassy’s ability to create an architectural marvel true to my vision, backed by the reputation they have built over the years,” added Thakkar.

Embassy expands Mumbai luxury housing portfolio

The transaction comes as Embassy Developments expands its residential presence in the Mumbai Metropolitan Region.

Its Mumbai-area residential portfolio includes Embassy Citadel in Worli and Embassy Serenity in Alibaug, along with Embassy Park in Panvel and Embassy One in Thane.

Jitendra Virwani, chairman of Embassy Developments, said the Thakkar transaction reflected the company’s positioning of its luxury residential projects and the trust it had built among buyers in Mumbai.

Embassy said Embassy Terazza was launched in Mumbai about 18 months ago.

In this case, the buyer is not acquiring a single apartment but an entire tower comprising eight levels and 63,000 sq ft of RERA carpet area.

The transaction is therefore different from typical luxury-home purchases, where prices are generally compared on an apartment-by-apartment or square-foot basis.

For Embassy Developments, the transaction adds to its residential expansion in Mumbai, while the project itself represents a significant share of the company’s stated ₹3,000-crore-plus GDV for Embassy Terazza.

Embassy Developments is listed on the BSE and NSE. The company was formerly known as Equinox India Developments and has residential and commercial projects across Bengaluru, Mumbai Metropolitan Region, the National Capital Region, Chennai and Indore.