Mumbai bungalow deals: Four independent homes worth ₹864 crore in last two years, Leela sale at ₹221 crore

Leela, a rare sea-facing, heritage 6BHK Art Deco bungalow in Juhu on Juhu Tara Road, sold for ₹221 crore to Notandas Realty, an arm of the Mahesh Notandass Jewellers Group. The Nanavati family owned the Grade IIB heritage property, built in the 1950s, which is ground-plus-one on a 1,355 sq metre plot with a built-up area of about 8,480.68 sq ft, a terrace of roughly 2,500 sq ft, and a garden of about 5,000 sq ft. The deal was conducted via bidding; the price equates to roughly ₹2,60,592 per sq ft built-up and about ₹1,51,525 per sq ft on the total plot area of 14,585 sq ft.

Dwarka Bungalow in Santacruz West, known as a luxury asset, was acquired by ZYJ Estates LLP for ₹164 crore. The property spans 1,266.7 sq m (about 13,629 sq ft) and comprises a ground-plus-one structure with a garage and sheds. The documents show a stamp duty payment of ₹9.8 crore for the purchase in November 2025; ZYJ Estates LLP is led by Zafar Yunus Zaveri, with links to Yunus Jhaveri Architects and the Sequoia project on 16th Road, Santacruz West.

Niladri Bungalow in Nepean Sea Road was purchased by Ajaykumar Vaghani for ₹203 crore on March 31, 2025 from United Spirits. The bungalow sits on 1,911 sq m of land and comprises a ground-plus-two structure totaling about 18,844 sq ft. A stamp duty of ₹12.23 crore was paid for the purchase.

Mumbai’s Laxmi Nivas bungalow on Nepean Sea Road, a historic property that served as a secret hideout for freedom fighters during the Quit India Movement, was sold for ₹276 crore in February 2025. Zapkey documents reviewed by the report show the 19,891 sq ft bungalow, owned by the Kapadia family, was sold to Vageshwari Properties Private Limited; one of its directors is Elina Nikhil Meswani, wife of Nikhil R Meswani of Reliance Industries.