Mumbai Bungalow Deal: Once again a luxury property is in the headlines in the real estate market of Mumbai. This sea-facing bungalow located on Juhu Tara Road is about 70 years old. However, due to its special location and heritage importance, its price has been fixed at Rs 221 crore. Interestingly, despite such a high price, many big builders showed interest in purchasing it. After which this property has become a topic of discussion in the market.

Bungalow has got heritage status

‘Leela Bungalow’ built on Juhu Tara Road is about 70 years old and has been built in Art Deco style. This property has got heritage status of IIB grade. Because of which the buyer will not be able to make much changes in it. According to a report in Hindustan Times, this bungalow belongs to the Gautam Nanavati family. Which is connected to Nanavati Max Super Specialty Hospital of Mumbai.

specialty of bangla

This two-storey bungalow is built on a plot of about 1,355 square meters. Which has a built-up area of ​​approximately 8,480.68 square feet. Along with this, there is also a terrace of about 2,500 square feet and a garden of about 5,000 square feet. If we look at the price according to built-up area, then this deal has been done at the rate of around Rs 2,60,592 per square foot.

The price was already high

This deal has been managed by JLL India firm. According to the information, this bungalow was put in the market for the first time in the year 2022 for sale between Rs 210 to 220 crores. After this, at the beginning of this year its price had increased to about Rs 250 crore.

Who bet on bungalow?

Notandas Reality has acquired this sea-facing bungalow in Mumbai. Which is a company associated with Notandas Jewelers Group. A good amount of money has also been spent on stamp duty and registration in this deal.

This deal has been completed jointly by company director Mahesh Notandas Jagwani and his son Harsh Mahesh Jagwani. Mahesh Jagwani is also the director of Notandas Jewelers and runs its showroom in Bandra. The foundation of this business was laid by Kishin Jagwani of Notandas family in 1983.

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