Mumbai's Heritage Sea-Facing Bungalow 'Leela' on Sale for Rs 250 Crore
Mumbai, the city of Bollywood, houses several bungalows in premium locations. One such bungalow has now been put on sale for Rs 250 crore. It is located in Juhu and is a heritage, sea-facing 6 BHK bungalow named Leela. Market sources told HT Real Estate that 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.
The bungalow is located close to the iconic Juhu Beach. Built in the 1950s in an Art Deco style, it is listed as a Grade IIB heritage property.
The ground-plus-two-floor bungalow is built 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 has 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. A couple of developers and several high-net-worth individuals (HNI) have shown interest in purchasing the bungalow, according to market sources.
The Nanavati family, known for their contributions to healthcare in Mumbai, has decided to put this iconic property on the market. The bungalow, with its rich history and prime location, is expected to attract significant attention from both developers and high-net-worth individuals looking for a piece of Mumbai's heritage.
The sale of such a property not only highlights the value of heritage buildings but also underscores the ongoing demand for premium real estate in Mumbai. The Art Deco style, combined with the sea-facing views and the historical significance, makes 'Leela' a rare and valuable asset in the real estate market.
