Historic Juhu Bungalow Sold for ₹221 Crore to Notandas Realty
Nanavati family’s sea-facing Art Deco Juhu bungalow sold for ₹221 crore
Hindustan Times
Image: Hindustan Times
The Leela Bungalow, a Grade IIB heritage property in Juhu, Mumbai, has been sold for ₹221 crore (approximately $26.5 million USD) to Notandas Realty. The bungalow, owned by Gautam Nanavati of the Nanavati family, features Art Deco architecture and spans a plot of 1,355 square meters.
- 01Leela Bungalow sold for ₹221 crore (approximately $26.5 million USD).
- 02The property is classified as Grade IIB heritage, allowing refurbishment while preserving its historical elements.
- 03The bungalow features original architectural details from the 1950s, including Burma teak door frames and a grand staircase.
- 04Notandas Realty, part of the Notandas Jewellers group, finalized the purchase after the property was listed in 2022.
- 05The sale highlights the scarcity of sea-facing properties in the Juhu area.
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The historic Leela Bungalow, located on Juhu Tara Road in Mumbai, has been sold for ₹221 crore (approximately $26.5 million USD) to Notandas Realty, part of the Notandas Jewellers group. This Grade IIB heritage property, owned by Gautam Nanavati of the Nanavati family, spans a 1,355 sq meter plot and features a built-up area of around 8,480.68 sq ft. The bungalow is notable for its Art Deco design and retains many original features from the 1950s, including Burma teak door frames and a grand staircase. The sale was finalized following a series of price revisions, with initial listings ranging from ₹210 crore to ₹250 crore. International property consultant JLL India managed the transaction, which underscores the limited availability of sea-facing properties in the Juhu area. The heritage classification allows for refurbishment while preserving the property's original architectural elements.
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The sale of this heritage property highlights the demand for premium real estate in Mumbai, particularly for sea-facing properties, which could influence future property values in the area.
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