Dinesh Thakkar, founder, chairman and managing director of Angel One, has agreed to acquire an entire residential tower at Embassy Developments’ Embassy Terrazza project in Juhu, Mumbai, for approximately Rs. 711 crore. The deal is among the largest single residential transactions in India as demand for large-format homes remains strong at the top end of Mumbai’s housing market.
The transaction covers a G+7 storey tower with a RERA carpet area of around 63,000 sq ft. The property is valued at around Rs. 1.13 lakh per sq ft at the reported transaction value. Unlike a conventional luxury home purchase, Thakkar is acquiring the entire tower rather than an individual apartment.
Juhu continues to see demand for large-format homes, with limited availability supporting values at the top end of the market. The reported value of around Rs. 1.13 lakh per sq ft also places the transaction among the high-value residential deals recorded in Juhu.
Entire tower changes the scale of the deal
Embassy Terrazza is a low density residential project spread across more than two acres of land on Juhu Tara Road. This project comprises five towers with around 50 residences in total. The estimated gross development value is over Rs. 3,000 crore. Each tower has been planned with one residence per floor, with sea and city views forming part of the project's positioning. Thakkar plans to use the property as his family home and has named it ‘Angelus’. The buyer has said privacy, space and sea views were among the factors behind the decision to acquire the property.
The project is being developed by Embassy Developments under a development management model. The Juhu project is part of Embassy’s expanding residential presence in the Mumbai Metropolitan Region, which also includes projects in Worli and Alibaug.
Mumbai sees more large-ticket residential deals
Thakkar’s purchase comes amid a series of high-value residential transactions in Mumbai. The transaction follows the reported Rs. 639-crore purchase of two luxury residences in Worli by USV promoter Leena Gandhi Tiwari, which had been among the biggest disclosed residential deals in the country in the preceding period. Mumbai’s luxury housing market has also recorded strong sales across the broader high-value segment, with luxury homes priced above Rs. 10 crore recording sales worth Rs. 18,512 crore in H1 2026.
While transactions at this level remain limited to a small segment of the housing market, the latest deal adds to a series of high-value residential transactions involving ultra high net-worth buyers in Mumbai.
For developers, this creates an opportunity to build projects around a smaller number of high-value residences in established locations. Embassy Terrazza’s low-density format and the sale of an entire tower to a single buyer demonstrate how this segment is creating room for transactions that are substantially different in scale from the typical luxury apartment sale.
The Rs. 711-crore Juhu deal therefore stands out not only for its value, but also for the amount of residential space being acquired in a single transaction. It adds another high-value deal to Mumbai’s luxury housing market, where limited supply in established neighbourhoods continues to support demand for exclusive, large-format homes.
