Heritage Art Deco Bungalow in Juhu Sold for ₹221 Crore

A historic Art Deco bungalow in Juhu, Mumbai, has been sold for ₹221 crore to Notandas Realty, marking a record in real estate transactions. This Grade IIB heritage property, previously owned by the Nanavati family, features luxurious amenities and a rich history. With its prime location near Juhu Beach, the bungalow is not only a significant architectural landmark but also a potential future residential project, depending on its heritage status. Learn more about this remarkable property and its legacy.

By Narendra Chaudhary Apr 29, 2026, 15:01 IST

Overview of the Sale

A remarkable Art Deco bungalow named Leela, located in Juhu, Mumbai, has been acquired by Notandas Realty, a division of the Mahesh Notandass Jewellers Group, for an impressive ₹221 crore. This transaction is being recognized as a record-setting deal. The property, classified as a Grade IIB heritage site, is situated on Juhu Tara Road, close to the popular Juhu Beach.

Details About the Bungalow

More About The Bungalow

This exquisite property was previously owned by the Nanavati family, known for their association with Nanavati Hospital in Vile Parle, Mumbai. Constructed in the 1950s, the bungalow boasts a built-up area of around 8,480 sq ft. Initially listed for sale at ₹250 crore, its heritage designation signifies its architectural and historical significance.

Due to its heritage classification, immediate demolition for high-rise development is not permitted. However, it is reported that the new owner may utilize the property for personal use. Should the heritage status change in the future, there could be potential for a residential project.

Historical Context

The bungalow, completed in the 1950s, is a luxurious residence spanning three levels on a 14,858 sq ft plot. It includes six bedrooms, a dining area, two living rooms, two verandahs, a sea-facing garden, balconies, a staff room, and parking for four cars, along with a terrace of approximately 2,653 sq ft.

Numerous high-net-worth individuals and developers showed interest in this property. Ultimately, the deal with Notandas Realty was finalized on April 22, 2026, with the assistance of JLL India, an international property consultancy.

Legacy of the Nanavati Family

Owned by Gautam Nanavati, the bungalow is named after Leela Nanavati, the daughter of Sir Manilal Balabhai Nanavati, who served as the Deputy Governor of the Reserve Bank of India from 1936 to 1941. The residence was designed to accommodate three generations of the family, allowing multiple members to live together for many years. The ground floor features a sitting area, living room, two bedrooms, a dining room, and a kitchen with storage. The first floor includes a sitting area, one living room, four bedrooms, four bathrooms, and two balconies, while the second floor offers a terrace with stunning sea views spanning 2,653 sq ft.