India’s largest residential deal: Angel One founder Dinesh Thakkar buys entire Embassy Terrazza tower in Juhu for ₹711 crore
ADVERTISEMENT
Dinesh Thakkar, founder, chairman and managing director of Angel One, has signed an agreement to acquire an entire residential tower at Embassy Developments’ ultra-luxury Embassy Terrazza project in Juhu for around ₹711 crore.
The transaction, which the developer claims is India’s largest single residential unit deal, involves a G+7-storey tower with a RERA carpet area of 63,000 sq. ft. The deal has been signed through a memorandum of understanding (MoU) between Thakkar and Embassy Developments.
Thakkar has named the residence ‘Angelus’. The home is being designed with a focus on privacy, spaciousness and sea views, according to the developer.
“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,” Thakkar said.
He said he chose Embassy based on the developer’s track record and its ability to deliver the residence envisioned by him.
About Embassy Terrazza project
Embassy Terrazza is located on Juhu Tara Road in Mumbai and is spread across more than two acres. The low-density development comprises around 50 residences across five towers and has an estimated gross development value (GDV) of more than ₹3,000 crore.
The project features one residence per floor across the five towers, along with panoramic sea and city views, landscaped internal gardens and wellness and lifestyle amenities.
Embassy Developments is developing the project under a development management model.
Jitendra Virwani, chairman of Embassy Developments, said Thakkar’s acquisition of an entire tower reflects the trust the developer has built for its residential projects in Mumbai.
“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,” Virwani said.
Embassy Terrazza is part of Embassy Developments’ expanding residential portfolio in the Mumbai Metropolitan Region.
The company has also developed Embassy Citadel in Worli and Embassy Serenity in Alibaug, while Embassy Park in Panvel and Embassy One in Thane are among its ongoing projects in the region.