The heritage bungalow right off Nepean Sea and sitting on a 1,865 sq. meter plot has a rich history.
Highlights
- Colonial bungalow Laxmi Nivas in upscale Malabar Hill was built in 1904
- Bungalow hosted Jawaharlal Nehru, Ram Manohar Lohia among other stalwarts
- Bungalow on 1,865 sq m plot has generated interest among the rich
Nestled in the upscale neighbourhood of Malabar Hill in Mumbai, the colonial bungalow of Laxmi Nivas, that hosted stalwarts like Pandit Jawahar Lal Nehru, Ram Manohar Lohia, Aruna Asaf Ali, Achyut Patwardhan, Jaiprakash Narayan, is up for sale.
Built in 1904 by a Parsi family from Old Bombay, Laxmi Nivas was sold to the Kapadia family after ten years, according to a statement by property consultant CBRE, who have also been appointed as the sole advisor for this bid.
The heritage bungalow right off Nepean Sea and sitting on a 1,865 sq. meter plot has a rich history. It was a safe house for our freedom fighters during the peak years of the Quit India Movement. It is currently located right opposite to the diplomatic residence of the Consulate General of the Russian Federation.
The property sale has stirred quite a bit of interest and inquiries as such independent houses being put up for sale is a rarity, according to CBRE Capital Markets Managing Director, Nikhil Bhatia.
Rich individuals seeking privacy prefer buying independent houses as opposed to staying in penthouses within high-rise structures.