Business · India Bureau
Embassy sells Juhu tower to Dinesh Thakkar for ₹711 crore
The sale of a residential tower at Embassy Terazza marks India's largest single residential unit transaction, with the property spanning 63,000 sq ft of carpet area across seven floors plus ground level.
LSN India ·
Real estate developer Embassy has completed the sale of an entire residential tower in Mumbai's Juhu locality to businessman Dinesh Thakkar for ₹711 crore, in what industry observers are describing as a landmark transaction in India's luxury residential market.
The G+7 structure at Embassy Terazza comprises approximately 63,000 sq ft of carpet area, making it the country's largest single residential unit transaction by floor space. The transaction underscores sustained investor appetite for premium residential properties in Mumbai, despite macroeconomic headwinds affecting the broader real estate sector.
Embassy, known for its presence across commercial and residential segments, has been actively divesting select properties as part of portfolio optimization. The Juhu location, one of Mumbai's most sought-after addresses, has consistently attracted high-net-worth individuals and institutional investors seeking prime real estate assets.
Details regarding Thakkar's intended use of the property—whether for personal residence, redevelopment, or investment purposes—were not immediately disclosed. The transaction is expected to set benchmarks for similar ultra-premium residential asset sales in the Mumbai market.