Embassy Developments Signs MoU to Sell Entire Juhu Residential Tower to Angel One Founder for ₹711 Crore

India's Largest Single Residential Unit Transaction Signed in Juhu

Embassy Developments has signed a memorandum of understanding (MoU) to sell an entire residential tower at its ultra-luxury project Embassy Terazza in Mumbai's Juhu to Dinesh Thakkar, founder, chairman and managing director of stockbroking firm Angel One, in a deal valued at ₹711 crore. The company said the deal is the largest single residential unit transaction in the country.

Property Specifications

The residence comprises a G+7-storey tower with a carpet area of 63,000 square feet. The transaction implies a pricing rate of approximately ₹1.13 lakh per sq ft on a RERA carpet area of 63,000 sq ft.

Embassy Terazza: The Ultra-Luxury Development

Located on Juhu Tara Road, Embassy Terazza is an ultra-luxury development spanning over two acres with approximately 50 residences and an estimated gross development value (GDV) of more than ₹3,000 crore. The project is being developed by Embassy Developments under a development management (DM) model. Under a DM model, a developer is responsible for developing and managing the project on behalf of the landowner.

About the Buyer

Dinesh Thakkar, founder, chairman and managing director of Angel One, has made headlines after agreeing to buy an entire luxury residential tower in Mumbai's Juhu for approximately Rs711 crore. After experiencing early losses, he entered the brokerage business and founded what became Angel One in 1996. Angel One reported revenue of ₹4,272 crore (US$440 million) and net income of ₹1,126 crore (US$120 million) in 2024.

Significance for Embassy's Mumbai Expansion

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. Its recent portfolio includes Embassy Citadel in Worli, while Terrazza marks its entry into another established luxury residential micro-market in the city.