Thakkar has purchased the complete residential tower at Embassy Developments’ ultra-luxury Embassy Tereja project on Juhu Tara Road. The transaction is being described as one of the biggest residential deals in Indian real estate involving a single family for its own residence. The new family residence has been named ‘Angelus’, marking a significant high-value addition to Mumbai’s luxury housing market.
The scale of the transaction is reflected in the fact that Thakkar has not purchased a single apartment or penthouse. Instead, he has acquired the entire tower, which spans approximately 63,000 square feet of carpet area.
Located close to Juhu Beach and facing the Arabian Sea, the property gives the Thakkar family exclusive control over the entire residential premises, including the private lobby, terrace and parking spaces. The seven floors can also be customised according to the family’s requirements.
According to real estate sources, Thakkar entered into a direct agreement with the Embassy Group for the purchase of the ultra-luxury tower. The transaction has also generated significant revenue for the government treasury through the payment of stamp duty and registration charges required to officially register the deal.
The transaction has also established a new benchmark in terms of the price per square foot amid continued demand for luxury homes in Mumbai.
The Juhu Tara Road property stands out for its Arabian Sea views, offering a private-seafront setting near Juhu Beach, something considered rare in a densely populated city such as Mumbai. Since the entire tower is owned by one family, there will be no involvement from other external residents, allowing the seven floors to be designed around the family’s privacy and lifestyle requirements.
The project by Embassy Developments includes international-standard amenities such as advanced home automation, a private swimming pool, a personal gym, landscaped gardens and secure basement parking for multiple vehicles.
Thakkar’s ₹711-crore-plus Juhu purchase comes alongside several other major luxury residential transactions in Mumbai in recent years, involving prominent business families and corporate figures.
One of the biggest single residential transactions in Indian real estate involved Radhakishan Damani, founder of Avenue Supermarts, which operates D-Mart. Damani purchased the grand independent two-storey ancestral bungalow Madhu Kunj on Narayan Dhabolkar Road in the upscale Malabar Hill area of South Mumbai for around ₹1,001 crore.
The Bajaj family also completed a major luxury residential transaction on Carmichael Road in Mumbai. The business family paid more than ₹940 crore for a luxury independent bungalow/property, placing the deal among the largest family residential transactions associated with the corporate world.
Another major transaction came from the pharmaceutical sector when Leena Gandhi Tiwari, chairperson of USV Private Limited, purchased a luxury sea-facing duplex apartment at the super-luxury Naman Xana project in Worli. The transaction was valued at approximately ₹739 crore.
Mumbai’s Three Sixty West project in Worli has also emerged as a destination for several high-value transactions. Promoters of Welspun Group and other major corporate figures have purchased entire penthouses and luxury floors at prices ranging from ₹230 crore to ₹369 crore. At one point, multiple floors in the building were purchased together in a bulk transaction valued at more than ₹1,200 crore.
These transactions fall within Mumbai’s ultra-luxury residential segment, where buyers increasingly acquire entire floors, duplexes, bungalows or even complete towers rather than individual apartments to secure greater privacy.
Over the past few years, areas such as Juhu and Vile Parle have joined established luxury residential locations including Cuffe Parade, Malabar Hill, Worli and Bandra as preferred destinations for major corporate figures, startup founders and leading stock market investors.
Market observers have linked Thakkar’s transaction with the growing strength of India’s wealth creators and the success of Angel One in the broking and fintech sectors. With the acquisition of the entire seven-storey Juhu tower, the property has emerged as another landmark transaction in Mumbai’s super-luxury residential market.
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