Mumbai's Iconic Sea-Facing Heritage Bungalow 'Leela' Sells for a Whopping ₹221 Crore

A rare sea-facing, heritage 6BHK Art Deco bungalow named Leela in Mumbai’s Juhu, owned by the Nanavati family, has been sold to Notandas Realty, an arm of the Mahesh Notandass Jewellers Group, for ₹221 crore, according to property registration documents reviewed by Hindustan Times Real Estate.

Listed as a Grade IIB heritage property, the bungalow is located on Juhu Tara Road near the iconic Juhu Beach. Built in the 1950s, the property, owned by the Nanavati family, promoters of Nanavati Hospital in Vile Parle, was sold through a bidding process, sources said.

According to sources, this transaction is one of the costliest in the Mumbai real estate market. However, no benchmark data is available for this, given the property's unique nature. The ground-plus-one bungalow stands on a 1,355 sq metre plot with a built-up area of around 8,480.68 sq ft, and includes a terrace of approximately 2,500 sq ft along with a garden spanning about 5,000 sq ft. Based on the built-up area, the deal translates to roughly ₹2,60,592 per sq ft, lower than Uday Kotak’s ₹2.89 lakh per sq ft transaction at Worli Sea Face. Calculated on the total plot area of 14,585 sq ft, the price works out to about ₹1,51,525 per sq ft, according to brokers.

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 (HNIs) had expressed interest in purchasing the bungalow. However, the deal was finalised with Notandas Realty for ₹221 crore on April 22, 2026, as per documents reviewed. Hindustan Times Real Estate was the first to report on the bungalow being put up for sale in January 2026. The transaction was facilitated by International Property Consultant JLL India.

An email query was sent to JLL India, Notandas Realty, and the Nanavati family. 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. 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.

A heritage-grade bungalow in Mumbai is a protected property classified under the city’s heritage regulations, recognised for its architectural, cultural, or historical significance. Any redevelopment, alteration, or repair is strictly regulated to preserve its original character. “The bungalow carries a heritage tag and cannot be immediately demolished for the construction of a high-rise tower. However, the purchaser may choose to use it for personal purposes. At a later stage, if the heritage status is revised, they may consider launching a residential project,” a source said.