Mumbai's Heritage Gem: Leela Bungalow 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, according to market sources. This iconic property, built in the 1950s, is owned by the Nanavati family, known for promoting the Nanavati Hospital in Mumbai’s Vile Parle area. The family is now offering the bungalow for sale.

Listed as a Grade IIB heritage property, the bungalow is situated close to the iconic Juhu Beach. It is a ground-plus-two-floor bungalow built in an Art Deco style, covering a 14,858-square-foot plot with a built-up area of approximately 8,480 square feet. The bungalow includes a dining room, six bedrooms, a terrace, and sea-facing balconies. It also 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. The first floor includes a sitting area, one living room, four bedrooms, four washrooms, and two balconies. The second floor features a vast terrace spanning 2,653 sq ft.

Several developers and high-net-worth individuals (HNIs) have shown interest in purchasing the bungalow, although the deal is yet to be finalized. Queries have been sent to the Nanavati family regarding the proposed sale, and the story will be updated if a response is received.

The Leela bungalow was constructed as a joint family home, with three generations living under one roof. It 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. The bungalow is a symbol of architectural and historical significance, reflecting the rich heritage of Mumbai.

A heritage-grade bungalow in Mumbai is a protected historic property classified under the city’s heritage regulations. These bungalows have architectural, cultural, or historical significance, and any redevelopment, alteration, or repair must be strictly regulated to preserve their original character. A developer who wished to remain anonymous noted that while a heritage bungalow cannot always be redeveloped into a high-rise, a Grade IIB heritage property like Leela is eligible for a change of user, allowing for the construction of a tall, vertical building.

Juhu is a preferred residential area for Bollywood stars, producers, and directors 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.

Mumbai, with its rich history of architecture and heritage structures, boasts more than 1,000 listed heritage properties. One prominent heritage property is the Mannat bungalow of Bollywood actor Shah Rukh Khan in Mumbai's Bandra. Built in 1914, Mannat 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 has seen several significant bungalow deals in recent years. For instance, the 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. The Kapadia family, which owned the legacy 19,891 sq ft bungalow, 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.

Similarly, in November 2025, a subsidiary of luxury real estate developer ZYJ Builders and Developers acquired the Dwarka Bungalow in Santacruz for ₹164 crore. The Transfer Deed was registered on February 28, 2025. The property comprises the land and building, spanning 2,221 square yards, including the ground floor, plus two upper floors, and the rear side of the horizontal floor, plus an upper floor.

The sale of such heritage properties not only reflects the value of Mumbai’s real estate market but also underscores the city’s commitment to preserving its rich architectural heritage.