India, Sept. 22 -- Embassy Developments Limited has signed a Memorandum of Understanding (MoU) for the sale of an entire residential tower at Embassy Terazza in Juhu, Mumbai, to Dinesh Thakkar, Founder, Chairman and Managing Director of Angel One Limited, for approximately Rs 711 crore.
The transaction involves a G+7-storey tower with a RERA carpet area of around 63,000 sq ft and is described by the company as the largest single residential unit transaction in India.
Located on Juhu Tara Road, Embassy Terazza is an ultra-luxury, low-density development spread across more than 2 acres, comprising around 50 residences. The project has an estimated Gross Development Value (GDV) of over Rs 3,000 crore.
The development features one residence ...