Dinesh Thakkar, founder, chairman and managing director of Angel One, has entered into an agreement to buy an entire luxury residential tower in Mumbai’s Juhu for over Rs 711 crore, putting one of India’s most prominent stockbroking entrepreneurs in the spotlight for one of the country’s biggest residential transactions.
The property, at Embassy Terazza on Juhu Tara Road, is not a conventional luxury apartment. Thakkar is acquiring an entire G+7 tower spread across a RERA carpet area of 63,000 sq ft. According to ET’s report, the deal works out to around ₹1.13 lakh per sq ft, a new record for residential property in Juhu. Embassy Developments has described the transaction as India’s largest single residential unit transaction.
