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Dinesh Thakkar buys Juhu tower for ₹711 cr

economictimes.indiatimes.com · 13h · first reportShare

Dinesh Thakkar, founder and CMD of financial-services company and stockbroking firm Angel One, has entered into an agreement with Embassy Developments to purchase an entire luxury residential tower in Mumbai’s Juhu locality for over Rs 711 crore, said persons with direct knowledge of the development.This is among the largest single residential transactions anywhere in the country and the biggest this year, underscoring continued demand for ultra-luxury homes in Mumbai’s established high-value residential markets.134400511The residence comprises an entire G+7 storey tower, Embassy Terazza, on Juhu Tara Road with a RERA carpet area of 63,000 sq. ft. This puts the value of the transaction at around Rs 1.13 lakh per sq ft, a new record for residential properties in Juhu.The agreement for the transaction was inked last week.Also read: Factory floor or family office? India’s young rich alarm elders134401542The transaction gives Thakkar ownership of the entire tower rather than an individual