Juhu's 'Leela' Bungalow Sold for Rs 221 cr

A rare and iconic real estate transaction has taken place in Mumbai because the sea-facing heritage bungalow named “Leela” located in the upscale Juhu area was sold for ₹221 crore. The Nanavati family owned the property which Notandas Realty acquired through its connection to the Notandas Jewellers Group. The deal was officially registered on April 22 2026 which became one of the most high-profile luxury property transactions in the city this year.

The bungalow stands as a Grade IIB heritage site because it possesses both architectural and cultural value. The house built during the 1950s displays Art Deco architectural elements and occupies an extensive area that faces the ocean.

Key Highlights

• Notandas Realty acquires heritage bungalow Leela in Juhu Mumbai for Rs 221 crore.
• Property owned by Nanavati family is sea facing Grade IIB heritage bungalow.
• Deal highlights strong demand for rare ultra-luxury properties in Mumbai market.

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The building contains several living spaces together with multiple bedrooms and balconies plus a terrace which provides wide-ranging views of the Arabian Sea. The heritage classification of the building restricts all redevelopment activities and structural changes because they must maintain the building's historical appearance.

The property on Juhu Tara Road which exists as one of Mumbai's most upscale residential areas received attention from multiple wealthy individuals and property developers before the final deal was signed. The property achieved its high market value because of its prime beachfront position and the limited availability of such extensive independent bungalows throughout Mumbai.

The transaction was executed through the real estate consultancy JLL India which included institutional intermediaries as business partners for high-value transactions. The sale demonstrates continuous market demand for ultra-luxury properties in Mumbai which combine exclusive features with heritage value and premium locations.

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The transaction demonstrates that investors show strong demand for rare high-value real estate properties which exist in limited supply throughout India's financial capital.