Mumbai Real Estate: Heritage Bungalow 'Leela' in Juhu on Sale for ₹250 Crore

A heritage, sea-facing 6 BHK bungalow named Leela has been put up for sale for ₹250 crore in Mumbai’s Juhu, market sources told Hindustan Times Real Estate. Listed as a Grade IIB heritage property, the bungalow is located close to the iconic Juhu Beach. Built in the 1950s, the property is owned by the Nanavati family, promoters of the Nanavati Hospital in Mumbai’s Vile Parle area, and is now being offered for sale by the family, they said.

Built in the 1950s in an Art Deco style, the ground-plus-two-floor bungalow is situated on a 14,858-square-foot plot with a built-up area of approximately 8,480 square feet. It comprises a dining room, six bedrooms, a terrace, and sea-facing balconies. The bungalow features two living rooms, two verandahs, a sea-facing garden, a staff room, four car parking spaces, and a terrace of 2,653 sq ft, according to sources.

The ground floor of the bungalow has one sitting area, one living room, two bedrooms, one dining room, and a kitchen with storage, they said. The first floor has a sitting area, one living room, four bedrooms, four washrooms, and two balconies. The second floor of the bungalow features a terrace spanning 2,653 sq ft, according to sources.

According to market sources, a couple of developers and several high-net-worth individuals (HNI) have shown interest in purchasing the bungalow. However, the deal is yet to be closed. Queries have been sent to the Nanavati family regarding the proposed sale of the bungalow. The story will be updated if a response is received.

According to sources, the Leela bungalow was constructed as a joint family home, with three generations living under one roof and is named after Sir Manilal Balabhai Nanavati, who served as Deputy Governor of the Reserve Bank of India (RBI) between 1936 and 1941 under a British Governor.

A heritage-grade bungalow in Mumbai is a protected historic property classified under the city’s heritage regulations. Such bungalows have architectural, cultural, or historical significance, and any redevelopment, alteration, or repair is strictly regulated to preserve their original character. “A bungalow carrying a heritage reservation cannot always be redeveloped into a high-rise. However, in the case of a Grade IIB heritage property, such a conversion is possible. This means the Leela bungalow site is eligible for a change of user, allowing for the construction of a tall, vertical building,” said a developer who did not wish to be named.

Bollywood stars, producers, and directors prefer to reside in Juhu due to its central location and proximity to areas such as Goregaon, Khar, Bandra, and Andheri, where most studios are located. According to local brokers, apartments in the area are available from ₹60,000 per sq ft to ₹1 lakh per sq ft.

The city of Mumbai, with a rich history of architecture and heritage structures, boasts more than 1,000 listed heritage properties, according to media reports. One prominent heritage property is the Mannat bungalow of Bollywood actor Shah Rukh Khan in Mumbai's Bandra. Built in 1914, Mannat was originally owned by Nariman A. Dubash and is classified as a Grade-III heritage property, meaning the original bungalow cannot be altered. However, the estate has been expanded by adding a six-storey annexe behind the main structure, known as the Mannat Annexe.

Mumbai’s iconic Laxmi Nivas bungalow, located on the elite Nepean Sea Road, which served as a secret hideout for freedom fighters during the Quit India Movement in the 1940s, was sold for ₹276 crore in February 2025, according to documents accessed by Zapkey. According to the documents, the Kapadia family, which owned the legacy 19,891 sq ft bungalow, had sold the property to Vageshwari Properties Private Limited, one of whose directors is Elina Nikhil Meswani, wife of Nikhil R Meswani, executive director on the board of Reliance Industries Limited. The total built-up area of the property is approximately 19,891.87 sq. ft, the documents showed.

Similarly, in November 2025, a subsidiary of luxury real estate developer ZYJ Builders and Developers acquired the Dwarka Bungalow in Santacruz for ₹164 crore, according to documents accessed by data analytics firm Zapkey. The Transfer Deed was registered on February 28, 2025. There are 15 sellers, including Upendra Trikamdas Kapadia, and the buyer is Vageshwari Properties Private Limited, the documents showed. The property comprises the land and building, spanning 2,221 square yards. It includes the ground floor, plus two upper floors, and the rear side of the horizontal floor, plus an upper floor, the documents showed.