Mumbai: Embassy Developments Ltd on Tuesday announced it signed a MoU for the sale of an entire residential tower at its ultra-luxury development, Embassy Terazza, in Juhu to Dinesh Thakkar, founder, chairman and managing director of Angel One Ltd (AOL) for Rs 711 crore.
The residence comprises an entire ground-plus-seven-storey tower with a RERA carpet area of 63,000 square feet. In 2021, DMart founder Radhakishan Damani purchased a bungalow property at Narayan Dabholkar Road in south Mumbai for a record Rs 1,001 crore. The bungalow called Madhu Kunj is located on prime 1.5-acre land with a built-up area of more than 60,000 square feet in tony Malabar Hill. And in 2023, 23 luxury apartments in a residential project in Worli were bought by the family, relatives, friends and close associates of Damani for around Rs 1,200 crore.
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Located on Juhu Tara Road, the developer said the project is an “ultra-luxury low-density development” spanning more than two acres with approximately 50 residences and has an estimated gross development value (GDV) in excess of Rs 3,000 crore. Thakkar said, “Juhu has always had a special character that very few locations in Mumbai can match. Design features include one residence per floor across the five towers. 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. The luxury apartments were in Tower B of Three Sixty West on Dr Annie Besant Road. Download the TOI App.