Angel One Founder's Son Sells Luxury Andheri West Flat for ₹52.48 Crore, Reaps 87% Return
Vinay Dinesh Thakkar, son of Angel One founder Dinesh Thakkar, has sold a luxury apartment in Mumbai’s Andheri West for ₹52.48 crore, marking a significant 87% return in just over two years. The deal highlights the robust investor interest in Mumbai’s high-end residential market.
Mumbai Real EstateLuxury ApartmentsCapital AppreciationAndheri WestHighend ResidentialReal Estate MumbaiAug 03, 2025
The transaction took place in the upscale Atlantis tower, a premium residential high-rise in Andheri West known for its luxury amenities and proximity to commercial hubs like Lokhandwala, Versova, and SEEPZ. Thakkar had originally purchased the apartment in March 2023 for ₹28.11 crore. The new buyer, identified as Manoj Shyam Sundar Khaitan, has acquired the flat at a significant markup, yielding a compounded annual growth rate (CAGR) of approximately 29.4% for the seller, according to Zapkey data.
The apartment sold by Thakkar is located on the 25th floor and has a RERA carpet area of 3,891 sq ft, supplemented by a 409 sq ft balcony and four dedicated car parking slots. At a selling price of ₹52.48 crore, the per square foot rate works out to nearly ₹1.4 lakh, placing it among the top-tier residential transactions in Mumbai suburbs for 2025.
This deal stands out not only for its value but also for the speed and scale of capital appreciation in a relatively short holding period. In recent months, several transactions in the western suburbs have demonstrated similar investor outcomes. According to market watchers, luxury developments in areas like Andheri, Juhu, Bandra, and Worli have emerged as strong performers due to tight inventory, improving infrastructure, and strong NRI and HNI demand.
The Atlantis project, in particular, has drawn interest from professionals and investors alike, aided by its strategic location and modern specifications. Situated close to Western Express Highway and the Mumbai Metro Line 1, the tower offers high-rise views and easy access to both work and lifestyle destinations.
The sale is consistent with a broader pattern of exits by prominent individuals in the Mumbai luxury real estate space. Earlier this year, four well-known Bollywood personalities—Amitabh Bachchan, Akshay Kumar, Sonakshi Sinha, and Subhash Ghai—collectively sold flats worth ₹122 crore in Mumbai. Their properties had appreciated by an average of 118% over the years, as per real estate sources.
Analysts note that despite an overall slowdown in mid-segment housing, the luxury bracket continues to perform well due to its scarcity-driven demand. “Luxury inventory in top locations is limited, and those seeking premium lifestyle upgrades or long-term capital preservation continue to back such assets,” said a Mumbai-based real estate consultant.
However, experts also caution investors to consider hidden costs such as GST (5% on under-construction properties), stamp duty (typically 5-6%), registration charges, and recurring expenses like maintenance fees, club memberships, and taxes on rental income. These expenses can materially impact net returns.
The decision to invest in or exit from real estate is also increasingly influenced by tax and compliance considerations. Short-term capital gains (if sold within two years) are taxed at applicable income tax slab rates, while long-term capital gains (after 24 months) are taxed at 20% with indexation benefits. Given that Thakkar held the property for over two years, the deal likely qualifies for long-term capital gains taxation, offering a more favorable post-tax return.
Several high-net-worth individuals are reportedly restructuring their real estate portfolios in light of new financial planning trends, compliance scrutiny, and liquidity preferences. According to investment advisors, many prefer to exit legacy residential assets to reinvest in commercial properties, alternative investment funds, or equity markets.
Frequently Asked Questions
What is the significance of the sale of Vinay Dinesh Thakkar's flat in Andheri West?
The sale of Vinay Dinesh Thakkar's flat in Andheri West for ₹52.48 crore marks a significant 87% return in just over two years, highlighting the robust investor interest in Mumbai’s high-end residential market.
What are the key features of the Atlantis tower in Andheri West?
The Atlantis tower in Andheri West is a premium residential high-rise known for its luxury amenities, strategic location close to Western Express Highway and the Mumbai Metro Line 1, and proximity to commercial hubs like Lokhandwala, Versova, and SEEPZ.
How have other luxury properties in Mumbai performed recently?
Several luxury properties in Mumbai, particularly in areas like Andheri, Juhu, Bandra, and Worli, have shown strong performance due to limited inventory, improving infrastructure, and strong demand from NRIs and HNIs.
What are the hidden costs that investors should consider in real estate transactions?
Investors should consider hidden costs such as GST (5% on under-construction properties), stamp duty (typically 5-6%), registration charges, and recurring expenses like maintenance fees, club memberships, and taxes on rental income.
How do tax considerations influence real estate investment decisions?
Tax considerations, including short-term and long-term capital gains tax, significantly influence real estate investment decisions. Long-term capital gains (after 24 months) are taxed at 20% with indexation benefits, offering a more favorable post-tax return.
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