BENGALURU: In what Embassy Developments says is India’s largest single residential unit transaction, the developer has signed an MoU to sell an entire residential tower at its luxury Embassy Terrazza project in Juhu to Dinesh Thakkar, founder chairman and managing director of stock broking firm Angel One. The transaction is valued at about Rs 711 crore, including taxes, registration charges and other transaction costs..The residence, named ‘Angelus’ by Thakkar, comprises an entire ground-plus-seven-storey tower with a RERA carpet area of 63,000 sft. The project is located on Juhu Tara Road and is being developed by Embassy Developments under a development management model.Embassy Terazza is spread across more than two acres and comprises about 50 residences across five towers. The project has an estimated gross development value (GDV) of more than Rs 3,000 crore, according to the company.The development has one residence per floor in each of the five towers, along with sea and city views, landscaped gardens and wellness and lifestyle amenities.“Over the last three decades, Embassy has built a deep understanding of what today’s homebuyers value most,” said Jitendra Virwani, chairman of Embassy Developments. He said the transaction was an endorsement of the company’s residential strategy in Mumbai.Thakkar said privacy, space and sea views were among the key considerations in choosing the residence. “Juhu has always had a special character that very few locations in Mumbai can match. 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,” he said.Embassy Developments has projects including Embassy Citadel in Worli and Embassy Serenity in Alibaug in the Mumbai Metropolitan Region. It is also developing Embassy Park in Panvel and Embassy One in Thane.
