Mumbai, a city known for its rich heritage and luxury real estate, has witnessed yet another landmark deal. The historic Laxmi Niwas bungalow, located in Malabar Hill, has been sold for a staggering ₹276 crore. This bungalow, which holds significant historical importance, is a prized piece of Mumbai’s real estate landscape.
Property Details
| Property Attribute | Details |
|---|---|
| Property Name | Laxmi Niwas Bungalow |
| Location | Malabar Hill, Mumbai |
| Land Area | 1,857 Sq. Meters |
| Built-Up Area | 19,892 Sq. Ft. |
| Year Built | 1904 |
| Previous Owner | Kapadia Family (since 1917) |
| New Owner | Vageshwari Properties Pvt Ltd |
| Sale Price | ₹276 Crore |
This heritage bungalow is one of the most prestigious residential properties in Mumbai, offering an unparalleled view of the Arabian Sea and a luxurious living experience in one of the city’s most sought-after locations.
The Historical Significance of Laxmi Niwas
Built in 1904, the Laxmi Niwas bungalow has stood the test of time as an architectural marvel. It was acquired by the Kapadia family in 1917 and remained in their possession for over a century. The bungalow has been associated with Mumbai’s elite and has witnessed significant historical moments over the years.
Malabar Hill – A Prestigious Address
Malabar Hill is one of Mumbai’s most exclusive residential neighborhoods, home to politicians, business tycoons, and celebrities. The area offers serene surroundings, breathtaking sea views, and proximity to important landmarks such as:
- Raj Bhavan – The official residence of the Governor of Maharashtra.
- Hanging Gardens – A scenic green space overlooking Marine Drive.
- Walkeshwar Temple – A historic Hindu temple.
- Marine Drive – The iconic Queen’s Necklace along the Arabian Sea.
With its luxury real estate, elite residents, and premium amenities, Malabar Hill continues to command some of the highest property prices in India.
Why This Deal is Significant for Mumbai’s Real Estate Market
The sale of Laxmi Niwas marks one of the largest residential property transactions in Mumbai. Here’s why this deal is noteworthy:
1. Record-Breaking Price
With a price tag of ₹276 crore, this transaction highlights the rising demand for ultra-luxury real estate in Mumbai’s prime locations.
2. Exclusive Heritage Property
As a century-old heritage home, Laxmi Niwas holds immense value beyond its price—it represents Mumbai’s architectural legacy and historical significance.
3. Prime Real Estate Market Trends
The deal underscores the continued interest from high-net-worth individuals (HNWIs) and developers in premium South Mumbai properties.
4. Investment Potential
Malabar Hill’s limited inventory of luxury properties ensures that such assets continue to appreciate in value, making them a sought-after investment choice.
Conclusion
The sale of Laxmi Niwas bungalow in Malabar Hill for ₹276 crore is a testament to Mumbai’s ever-growing luxury real estate market. Its historical significance, prime location, and record-breaking price make it one of the most remarkable property transactions in recent times.
For those interested in high-value real estate investments in Mumbai, this deal sets a new benchmark for heritage bungalows and premium properties in South Mumbai.
Stay tuned for more updates on Mumbai’s luxury real estate market!
