Founder buys entire luxury tower

Dinesh Thakkar, founder of Angel One, has agreed to buy Embassy Terazza, a complete seven-storey residential tower in Mumbai's Juhu for over Rs 711 crore. The deal covers 63,000 square feet and sets a new record at Rs 1.13 lakh per square foot.

“This is among the largest single residential transactions anywhere in the country and the biggest this year”

Record price per square foot

At Rs 1.13 lakh per square foot, the transaction sets a new benchmark for Juhu residential properties. The price reflects scarcity of large-format homes in established premium neighbourhoods.

Larger project worth Rs 3,000 crore

Embassy Terazza is one of five towers in a development spread across 2 acres with 50 residences total. The entire project has an estimated value of over Rs 3,000 crore and is scheduled for completion by December 2031.

Juhu's appeal to ultra-wealthy buyers

Juhu has become a top ultra-luxury market because it offers large-format residences with privacy, proximity to the airport and commercial districts, and established social infrastructure. Demand from high-net-worth individuals remains strong.

“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”

Shift toward entire towers

Thakkar's purchase of a complete tower differs from typical luxury deals where buyers acquire individual apartments. Entire-tower acquisitions are becoming an important segment as wealthy buyers seek maximum control and exclusivity.

“The acquisition of an entire tower further differentiates the transaction from conventional luxury apartment purchases”

Resilient ultra-luxury market

Mumbai's ultra-luxury segment remains strong despite economic headwinds, with high-value transactions rising as business promoters and executives seek larger homes. Limited inventory in premium areas like Juhu, Bandra and Worli supports continued price growth.

“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”