The founder of one of India’s biggest retail stockbrokers snapped up a luxury tower in Mumbai for 7.11 billion rupees ($74.3 million), marking the most expensive known purchase of a single residential unit in the country. Dinesh Thakkar from Angel One Ltd. purchased the sea-facing eight-storey tower spread across 63,000 square feet (5,853 square meters) in an upscale neighborhood in Mumbai. The developer, Embassy Developments Ltd., confirmed the transaction in a statement.

Embassy’s shares rose as much as 8.3% in early trade following the announcement. This record-breaking home deal highlights surging demand for premium real estate in India’s financial capital. The property, part of the Embassy Terazza development, offers panoramic sea views and spans multiple floors.

Thakkar’s acquisition underscores growing wealth concentration among India’s elite investors. The transaction sets a new benchmark for luxury residential sales in the nation.