- Nanavati family sold their 6BHK bungalow in Mumbai for Rs 221 crore to Notandas Realty
- Leela bungalow is a Grade IIB heritage Art Deco property built in the 1950s with 8480 sq ft
- Heritage status restricts demolition and requires approval for alterations from Mumbai Heritage Committee
In a record deal, the Nanavati family, promoters of Nanavati Hospital in Vile Parle, Mumbai, sold their 6BHK bungalow to Notandas Realty, an arm of the Mahesh Notandass Jewellers Group, for a staggering Rs 221 crore.
Built in an Art Deco architectural style in the 1950s, Leela's built‑up area is approximately 8,480 sq ft. The sea‑facing property was put up for sale at an asking price of Rs 250 crore in January 2026, according to a Hindustan Times report.
The bungalow is listed as a Grade IIB heritage property, which denotes a structure of local architectural and historical importance. Located on Juhu Tara Road, close to Juhu Beach, it offers uninterrupted sea views, and the transaction is being described as one of Mumbai's costliest real‑estate deals.
"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," the publication quoted its source.
Inside Leela, Nanavati Family's Mumbai Bungalow That Was Just Sold For Rs 221 Crore
The construction of the bungalow was completed in the 1950s. It is a ground‑plus‑two‑storey luxury residence built on a 14,858‑sq‑ft plot. With a built‑up area of 8,480 sq ft, the bungalow features six bedrooms, a dining room, two living rooms, two verandahs, a sea‑facing garden, sea‑facing balconies, a staff room, four car‑parking spaces, and a terrace measuring approximately 2,653 sq ft.
The ground floor has a living room, a sitting area, one dining room, two bedrooms, and a kitchen with ample storage. The first floor has four bedrooms, four washrooms, one living room, a sitting area, and two balconies. The second floor is the terrace spanning over 2,650 square feet.
According to the report, several high‑net‑worth individuals (HNIs) and developers expressed interest in the property. However, the deal was finalised with Notandas Realty on April 22, 2026, and was facilitated by international property consultant JLL India.
History And Heritage Of Leela Bungalow
Owned by Gautam Nanavati, Leela was named after Leela Nanavati, the daughter of Sir Manilal Balabhai Nanavati, who served as Deputy Governor of the Reserve Bank of India between 1936 and 1941 during British colonial rule.
The bungalow was conceived as a three‑generation joint family residence, with multiple family members living under one roof for decades.
The bungalow reflects mid‑20th‑century Art Deco design, identifiable through its curved façades, clean horizontal lines, and large windows. As a designated Grade IIB heritage structure, the bungalow cannot be demolished under existing regulations. Any alterations or extensions must receive approval from the Mumbai Heritage Conservation Committee, and its Art Deco identity and original materials must be preserved.
Over more than seven decades, as Mumbai's real‑estate market evolved and sea‑facing plots in Juhu became increasingly scarce, the value of Leela rose exponentially. Today, it stands as an exceptional legacy asset along the Juhu seafront, combining architectural heritage with prime coastal real estate.