Mumbai Bungalow Boom: 4 Luxury Home Deals Cross ₹864 Crore

Mumbai Real Estate Market Update: Over the past two years, at least four bungalow deals worth ₹864 crore were registered in the city.

Mumbai’s real estate market is known for tiny apartments and towering towers, yet the city has reported at least four bungalow purchases over ₹864 crore in the last two years. A rare sea-facing heritage 6BHK villa named Leela in Mumbai’s Juhu sold for ₹221 crore.

The following are four bungalow deals in Mumbai’s real estate sector.

1) Leela Bungalow in Mumbai Juhu

On April 22, 2026, Notandas Realty, an arm of the Mahesh Notandass Jewellers Group, paid ₹221 crore for the rare sea-facing, heritage 6BHK Art Deco bungalow, Leela, owned by the Nanavati family in Mumbai’s Juhu.

The home, which is listed as a Grade IIB heritage site, is located on Juhu Tara Road near the famed Juhu Beach. The property, built in the 1950s and owned by the Nanavati family (the promoters of Nanavati Hospital in Vile Parle), was sold through a bidding process, according to reports.

The ground-plus-one bungalow is on a 1,355 square metre plot and has a built-up space of approximately 8,480.68 square feet. It has a terrace of roughly 2,500 square feet and a garden of about 5,000 square feet. The acquisition costs approximately ₹2,60,592 per sq ft, which is lower than Uday Kotak’s ₹2.89 lakh transaction at Worli Sea Face. Brokers estimate a price of approximately ₹1,51,525 per sq ft based on a total plot area of 14,585 square feet.

2) Laxmi Nivas (South Mumbai)

The landmark Laxmi Nivas home on Mumbai’s affluent Nepean Sea Road was sold for ₹276 crore in February 2025, according to papers discovered by Zapkey. The bungalow served as a secret refuge for independence fighters during the Quit India Movement in the 1940s.

According to Zapkey, what was once a hub of the liberation movement has become one of the most expensive real estate deals in the Mumbai market.

According to the paperwork, the Kapadia family, which possessed the heritage 19,891-square-foot bungalow, sold it to Vageshwari Properties Private Limited. One of its directors is Elina Nikhil Meswani, the wife of Nikhil R Meswani, executive director of Reliance Industries Limited’s board. According to the papers, the property’s total built-up area is roughly 19,891.87 square feet.

3) Dwarka Bungalow, Santacruz

According to records uncovered by data analytics firm Zapkey, a subsidiary of luxury real estate developer ZYJ Builders & Developers paid ₹164 crore for the Dwarka bungalow in Santacruz.

The house, Dwarka Bungalow, is located on Linking Road in Santacruz West. The estate covers 1,266.7 square meters (13,629 square feet) and includes a ground-plus-one structure, a garage, and auxiliary structures.

According to the document, the corporation paid a stamp duty of ₹9.8 crore to purchase the property in November 2025.

ZYJ Estates LLP purchased the bungalow through partner Zafar Yunus Zaveri. Zaveri is partnered with Yunus Jhaveri Architects and has ties to a luxury real estate company in Mumbai that specializes in high-end residential developments. According to the company website, ZYJ Developers is currently working on a project called Sequoia on 16th Road, Santacruz West.

4) Niladri bungalow, South Mumbai.

Ajaykumar Vaghani, founder and chairman of Hamilton Housewares Private Limited, purchased Niladri Bungalow in Nepean Sea Road for ₹203 crore in March 2025, according to property registration documents accessed by Zapkey. Hamilton Housewares Private Limited is a leading manufacturer and marketer of houseware products in India and owns the ‘Milton’ brand.

The records revealed that the bungalow was purchased from United Spirits on March 31, 2025. It has a land size of 1,911 square meters and a ground-plus-two bungalow of 18,844 square feet. The home acquisition cost ₹12.23 crore in stamp duty.