A grand and historic bungalow in Mumbai named Leela , located in the prime Juhu area of Mumbai, has been put up for sale.This magnificent heritage property is a spacious 6 BHK bungalow in Mumbai,situated in one of the city’s most valuable and sought-after localities.Once again, Mumbai’s real estate market is witnessing strong momentum, and the upcoming sale of this iconic bungalow in Mumbai at a prime Juhu location highlights this renewed growth.
Bungalow in Mumbai to be Sold for ₹250 Crore
According to a report by Hindustan Times the Leela bungalow is listed as a Grade IIB heritage property. Built in the 1950s, this historic bungalow in Mumbai is currently owned by the well-known Nanavati family, promoters of the renowned Nanavati Hospital in Vile Parle. The family is among Mumbai’s most respected names, and this property reflects a rich architectural and cultural legacy. Elegant, luxurious, and steeped in history, this bungalow in Mumbai stands as a rare real estate asset.
Bungalows in Mumbai have always been a major attraction, and this one is designed in the Art Deco style. The property is spread across a massive land parcel of approximately 14,800 sq ft, with a built-up area of around 8,480 sq ft. The layout includes two living rooms, a dining hall, six bedrooms, and two verandas. Additionally, the terrace spans about 2,653 sq ft and faces the sea, offering breathtaking panoramic views. From this terrace, residents can enjoy a mesmerizing view of the Arabian Sea. The bungalow in Mumbai also features a sea-facing balcony, a landscaped garden, dedicated staff quarters, and ample parking facilities, making it an exceptionally well-planned residence.
This bungalow in Mumbai is priced at ₹250 crore. Such ultra-luxury properties usually attract interest from top industrialists and prominent celebrities. With land availability in Juhu shrinking rapidly, a heritage property of this scale, grandeur, and location is bound to generate significant demand. Juhu is regarded as one of Mumbai’s most prestigious and upscale neighborhoods, home to leading business tycoons and Bollywood celebrities. As a result, property prices in the area have consistently soared. The availability of this rare bungalow in Mumbai presents a golden opportunity for investors and high-net-worth individuals looking to own an iconic residence.
A sea-facing heritage bungalow in Mumbai, combined with expansive land, premium location, and architectural value, is certain to attract immense buyer interest. Just a few days ago, luxury apartments in Mumbai were sold for ₹190 crore. Along with this, the newly listed bungalow in the market is also expected to provide good investment opportunities for investors.
Rlda secures record rs 1368 crore bid for land in parel
Meanwhile, similar large-scale real estate activity is also unfolding in central Mumbai. In Parel, a major transaction is expected soon for a six-acre land parcel. For the redevelopment of the Supari Baug Railway Colony, the Rail Land Development Authority (RLDA) has received a bid worth ₹1,368 crore for the six-acre plot. The bid has been submitted by Dineshchandra R. Agrawal Infracon, and if finalized, the land will be leased for 99 years.
RLDA, a statutory authority under the Ministry of Railways, focuses on monetizing vacant railway land for commercial development through non-tariff revenue generation. Under the Supari Baug redevelopment terms, the land accessible from Dr. Babasaheb Ambedkar Road will be eligible for a base Floor Space Index (FSI) of 4.05. Currently, only one bid has been received for this prime six-acre land parcel in Parel. Whether fresh tenders will be invited to enhance revenue remains to be seen. As of now, the ₹1,368 crore bid stands as a significant development in Mumbai’s real estate landscape.
