Real estate developer Embassy Developments Ltd has signed a Memorandum of Understanding (MoU) to sell an entire residential tower at its ultra-luxury Embassy Terrazza project in Juhu to Dinesh Thakkar, Founder, Chairman and Managing Director of Angel One Ltd, for ₹711 crore.
The transaction involves an entire G+7-storey tower with a RERA carpet area of 63,000 sq ft. The company described it as the largest single residential unit transaction in the country.
Embassy Terrazza spans two acres
Located on Juhu Tara Road, Embassy Terrazza is an ultra-luxury, low-density development spread across more than two acres, with approximately 50 residences.
The project has an estimated Gross Development Value (GDV) of more than ₹3,000 crore and is being developed by Embassy Developments under a development management model.
Project focuses on low-density living
The development comprises five towers, with one residence per floor, offering panoramic sea and city views, planned layouts, internal gardens and curated wellness and lifestyle amenities.
“Dinesh Thakkar’s acquisition of an entire tower at Embassy Terrazza 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,” Embassy Developments, Chairman, Jitendra Virwani, said.
Buyer names residence ‘Angelus’
“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,” Angel One, Founder, Chairman and Managing Director, Dinesh Thakkar, said.
“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. For a home of this scale, trust in the developer matters as much as the residence itself,” he said.
Embassy expands Mumbai residential portfolio
Thakkar said he looked forward to seeing Angelus at Embassy Terrazza take shape as a special home for his family.
Embassy Terrazza joins Embassy Citadel in Worli and Embassy Serenity in Alibaug, further expanding Embassy Developments’ residential footprint across the Mumbai Metropolitan Region. The company also has ongoing projects, including Embassy Park in Panvel and Embassy One in Thane.