Embassy Developments has signed a memorandum of understanding to sell an entire luxury residential tower in Mumbai’s Juhu to Angel One Chairman and Managing Director Dinesh Thakkar for about Rs 711 crore, in what the developer described as the country’s largest single residential unit transaction.The seven-storey tower, part of the Embassy Terrazza project on Juhu Tara Road, has a RERA carpet area of 63,000 sq ft. The transaction works out to about Rs 1 lakh per sq ft, with the total value including stamp duty and GST, the company said in a regulatory filing.The two-acre Embassy Terrazza project comprises five towers and is being developed under a development management model. Embassy Developments expects revenue of about Rs 3,000 crore from the overall project.Juhu residential property prices currently range from around Rs 70,000 per sq ft to Rs 1.3 lakh per sq ft, depending on the project, location and sea view, according to the company.“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,” Thakkar said.The transaction comes amid strong demand for Mumbai’s high-end residential properties. Sales of luxury homes priced at Rs 10 crore and above rose 12 per cent year-on-year to a record Rs 18,512 crore in the first half of 2026, according to India Sotheby’s International Realty and CRE Matrix. The number of such homes sold increased to 957 from 761 in the same period a year earlier.Sudershan Sharma, Executive Director of India Sotheby’s International Realty, said the Rs 711-crore deal was in line with pricing for newer ultra-luxury projects in Mumbai, particularly large, low-density developments with sea views.“At this end of the market, the price is justified by the rarity of the product,” Sharma said.He added that transactions in Lodha’s Avalon sea-facing developments were taking place at around Rs 1.25 lakh to Rs 1.3 lakh per sq ft.