Angel One’s founder Dinesh Thakkar strikes Rs 711 cr Juhu luxury tower deal

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.

The 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.

The 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.