The sea-facing bungalow, known as Leela, is located on Juhu Tara Road near Juhu Beach and was initially offered for sale at an asking price of Rs 250 crore in January 2026, according to reports. The deal was finalized on April 22, 2026, and was facilitated by international property consultant JLL India. Several high-net-worth individuals and developers had expressed interest before the final agreement was reached with Notandas Realty.
Built in the 1950s in a classic Art Deco architectural style, the residence spans a plot area of 14,858 square feet with a built-up area of approximately 8,480 square feet. The ground-plus-two-storey structure includes six bedrooms, two living rooms, a dining room, two verandahs, multiple balconies with sea views, a sea-facing garden, a staff room, four car parking spaces, and a terrace measuring around 2,653 square feet.
The ground floor comprises a living room, sitting area, dining room, two bedrooms, and a kitchen with extensive storage space. The first floor houses four bedrooms, four bathrooms, a living room, a sitting area, and two balconies. The second floor consists entirely of a large terrace spanning over 2,650 square feet.
Leela is classified as a Grade IIB heritage structure, signifying its local architectural and historical importance. As per heritage regulations, the property cannot be demolished for redevelopment into a high-rise structure. Any modifications or extensions require approval from the Mumbai Heritage Conservation Committee, with strict guidelines to preserve its original Art Deco character and materials. However, the buyer may utilize the property for personal use, and future redevelopment prospects would depend on any revision of its heritage status.
The bungalow was owned by Gautam Nanavati and named after Leela Nanavati, daughter of Sir Manilal Balabhai Nanavati, who served as Deputy Governor of the Reserve Bank of India between 1936 and 1941 during the British colonial period. Designed as a three-generation family residence, the home housed multiple generations of the Nanavati family for decades.
Over time, as Mumbai’s luxury real estate market evolved and sea-facing properties in Juhu became increasingly rare, the value of Leela bungalow appreciated significantly, culminating in one of the most expensive residential property transactions in the city’s history.
The sale marks the end of an era for one of Juhu’s most prominent heritage sea-facing residences, blending architectural legacy with prime coastal real estate value.
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