Dinesh Thakkar, founder, chairman and managing director of stockbroking agency Angel One, has purchased a whole residential tower in Mumbai’s Juhu for about Rs 711 crore, for use as a single household residence.

Embassy Developments Restricted stated on Tuesday that it had signed a memorandum of understanding with Thakkar for the sale of 1 tower at Embassy Terazza, its ultra-luxury challenge on Juhu Tara Street.

The constructing is a ground-plus-seven-storey construction with a RERA carpet space of 63,000 sq ft. On the said worth, the deal works out to roughly Rs 1.13 lakh per sq ft of carpet space, which is reportedly a brand new excessive for residential property in Juhu. Thakkar has named the house Angelus.

“Juhu has at all times had a particular character that only a few places in Mumbai can match. After I began on the lookout for a brand new residence, my focus was on privateness, spaciousness, distinctive sea views and creating an opulent, iconic sanctuary that will turn into our household residence,” Dinesh Thakkar, founder, chairman and managing director, Angel One.

“For a house of this scale, belief within the developer issues as a lot because the residence itself,” he added, stating he seemed ahead to seeing the residence take form.

The challenge

Embassy Terazza sits on greater than two acres on Juhu Tara Street, an deal with lengthy related to enterprise households, industrialists and movie personalities.

It’s deliberate as a low-density growth of about 50 residences throughout 5 towers, with one residence per flooring, and Embassy places its estimated gross growth worth above Rs 3,000 crore.

Thakkar’s buy alone due to this fact accounts for roughly 24% of the challenge’s projected worth in a single transaction.

Embassy is creating Terazza beneath a growth administration mannequin quite than as an entirely owned challenge.

Underneath such preparations the developer usually earns charges for constructing and promoting on behalf of the landowner, quite than reserving the total sale worth as its personal income, which is price holding in thoughts earlier than studying the Rs 711 crore as Embassy’s revenue.

Is it actually a document?

Embassy has described the deal as the most important single residential unit transaction within the nation. That declare holds for purchases inside a developer challenge, however it relies on how the class is drawn.

By ticket measurement, Thakkar’s Rs 711 crore is nicely above the Rs 639 crore paid in 2025 by Leena Gandhi Tewari, chairperson of pharmaceutical firm USV, for 2 sea-facing duplexes at Naman Xana in Worli.

With stamp obligation and GST, Tewari’s outlay was about Rs 703 crore. It’s also above the roughly Rs 426 crore the Kotak household paid for 22 of 24 flats in a constructing on Worli Sea Face, and the Rs 425 crore Kumar Mangalam Birla paid for Jatia Home.

It’s not the most important residential buy of any variety. DMart founder Radhakishan Damani reportedly paid about Rs 1,000 crore for a heritage bungalow on roughly 1.5 acres in Malabar Hill, a bigger sum for a standalone property quite than a unit in a challenge.

On worth per sq. foot, the Juhu deal is nicely in need of the nationwide benchmark. Tewari’s Worli duplexes have been purchased at about Rs 2.83 lakh per sq ft, round two and a half instances the speed Thakkar is paying.

Notably, the acquisition marks a pointy flip from the method Thakkar has described for many of his profession.

In an earlier interview, he stated he rented properties till he was round 38 to 40, as a result of he most popular to maintain capital in his enterprise, which he believed was incomes higher returns than property would.

He based Angel Broking in 1996, and the corporate, since renamed Angel One and listed on the NSE and BSE, grew into certainly one of India’s largest retail stockbrokers in the course of the pandemic-era surge in new demat accounts.

It’s headquartered in Andheri East, a brief drive from Juhu.

Angel One competes with Zerodha, Groww, Dhan, and different inventory brokers.