India, Sept. 22 -- The Mumbai arm of one of India's biggest listed real estate developers just closed a transaction that people in the industry are already flagging as unusual. It isn't the buyer's identity alone that's turning heads though he's a familiar name in Indian finance, it's the shape of the deal itself. Rather than selling apartments floor by floor, the Embassy handed over an entire building in one stroke. The location: Juhu. The number involved is large enough that it's being called a record.

Shares of Embassy Developments Ltd are trading at Rs. 59.67, up 1.39 percent on Tuesday. The stock touched the intraday high of Rs. 63.80 after opening at Rs. 61.00 before slipping to a low of Rs. 59.41. The company commands a market ca...