In one of the country’s largest single residential unit transactions, Embassy Developments Limited has signed a Memorandum of Understanding with Dinesh Thakkar, founder, chairman, and managing director of Angel One Limited, to sell an entire residential tower at Embassy Terazza, Juhu, for approximately ₹711 crore, the Bengaluru-based real estate company said in a regulatory filing on Sep 22.
The deal is India’s largest single residential unit transaction, the company said.
The development is part of the Embassy’s growing ultra-luxury residential portfolio in Mumbai, following its market entry 18 months ago, the company said.
The residence comprises an entire G+7-storey tower with a RERA carpet area of 63,000 sq. ft. and a transaction value of approximately ₹711 crore, the company said.
All about Embassy Terazza
Located on Juhu Tara Road, one of Mumbai’s coveted residential addresses and home to leading business families, industrialists, and celebrities, Embassy Terazza is an ultra-luxury, low-density development spanning over 2+ acres, with approximately 50 residences and an estimated Gross Development Value (GDV) in excess of ₹3,000 crore.
Design features include one residence per floor across the five towers, offering panoramic sea and city views, thoughtfully planned layouts, lush internal gardens, and curated wellness and lifestyle amenities. This project is being developed by Embassy Developments Limited under a development management model.
“Over the last three decades, Embassy has built a deep understanding of what today’s homebuyers value most. We have brought that same philosophy to Mumbai, and in a relatively short period, it has resonated with some of the country's most discerning buyers. 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,” Jitendra Virwani, chairman, Embassy Developments Limited, said.
{{/usCountry}}“Over the last three decades, Embassy has built a deep understanding of what today’s homebuyers value most. We have brought that same philosophy to Mumbai, and in a relatively short period, it has resonated with some of the country's most discerning buyers. 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,” Jitendra Virwani, chairman, Embassy Developments Limited, said.
{{/usCountry}}Dinesh Thakkar, founder, Chairman and Managing Director, Angel One Limited, said, “Juhu has always had a special character that very few locations in Mumbai can match. 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, which is being crafted into reality by the Embassy Group. Embassy Terazza brings together all these aspirations in one project. 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," he said.
“For a home of this scale, trust in the developer matters as much as the residence itself. I very much look forward to seeing Angelus at Embassy Terazza take shape as a very special home for our family,” he said.
Joining Embassy Citadel in Worli and Embassy Serenity in Alibaug, Embassy Terazza further strengthens EDL’s growing residential footprint across the Mumbai Metropolitan Region, alongside its ongoing projects, Embassy Park in Panvel and Embassy One in Thane, the company statement added.