Mumbai’s appetite for trophy homes remains undiminished. Just months after acquiring the iconic sea-facing Leela bungalow in Juhu for ₹221 crore, the Jagwani family-promoted Notandas Realty has returned to the city’s luxury housing market with another marquee purchase, a Spanish-style villa owned for over five decades by the family behind Wilson Pens.
Property registration documents show that Villa Wilson, located in Mumbai’s exclusive Juhu neighbourhood near actor Amitabh Bachchan’s residence, Jalsa, was sold for ₹135 crore in a deal registered on July 13, 2026.
The transaction underlines the enduring appeal of standalone bungalows in India’s most expensive real estate market, where such properties remain exceptionally scarce and continue to command premium valuations.
Designed by renowned architect Nirmala Banaji, Villa Wilson is a Spanish-style luxury residence known for its expansive living spaces, large landscaped grounds and floor-to-ceiling windows. The bungalow is part of the Kapole Co-operative Housing Society in Juhu and sits on a land parcel measuring 1,038.50 sq metres (11,178.32 sq ft), translating to a land rate of about ₹1.2 lakh per sq ft, documents accessed by Zapkey showed.
The property was sold by members of the Sanghvi family, promoters of Wilson Pens, according to documents.
Negotiations between the Sanghvi and Jagwani families lasted nearly 10 months, Hindustan Times reported earlier. A public notice inviting objections and claims over the property was issued in December 2025, but no objections were received, paving the way for the sale.
Harsh Jagwani, managing director of Notandas Realty, was quoted by Hindustan Times newspaper as saying, “Villa Wilson is not only symbolic due to its close proximity to high-net-worth individuals and celebrity residences, but it is also an iconic property that represents the Wilson family. Thus, this acquisition aligns with our core goals to continue building upon its legacy, which will now be a part of the Notandas family’s heritage as well.”
Jagwani said that the company plans to redevelop the property with a “future-forward architecture” that also captures Juhu’s historical values.
The acquisition comes barely months after Notandas Realty, part of the Mahesh Notandass Jewellers Group, purchased the heritage Leela bungalow on Juhu Tara Road for ₹221 crore. The rare 6BHK Art Deco residence, built in the 1950s and owned by the Nanavati family, promoters of Nanavati Hospital, was sold through a bidding process.
Mumbai’s marquee bungalow deals
Leela bungalow sold for ₹221 crore
Earlier this year, a rare sea-facing, heritage 6BHK Art Deco bungalow named Leela in Mumbai’s Juhu, owned by the Nanavati family, was sold to Notandas Realty, an arm of the Mahesh Notandass Jewellers Group, for ₹221 crore, according to property registration documents reviewed by Hindustan Times Real Estate.
Listed as a Grade IIB heritage property, the bungalow is located on Juhu Tara Road near the iconic Juhu Beach. Built in the 1950s, the property, owned by the Nanavati family, promoters of Nanavati Hospital in Vile Parle, was sold through a bidding process, sources said.
According to sources, this transaction is one of the costliest in the Mumbai real estate market. However, no benchmark data is available for this due to the property’s unique nature.
The ground-plus-one bungalow stands on a 1,355 sq metre plot with a built-up area of around 8,480.68 sq ft, and includes a terrace of approximately 2,500 sq ft along with a garden spanning about 5,000 sq ft. Based on the built-up area, the deal translates to roughly ₹2,60,592 per sq ft, lower than Uday Kotak’s ₹2.89 lakh per sq ft transaction at Worli Sea Face. Calculated on the total plot area of 14,585 sq ft, the price works out to about ₹1,51,525 per sq ft, according to brokers.
Laxmi Nivas, South Mumbai
Mumbai’s iconic Laxmi Nivas bungalow located on the elite Nepean Sea Road and which served as a secret hideout for freedom fighters during the Quit India Movement in the 1940s, was sold for ₹276 crore in February 2025, documents accessed by Zapkey showed.
What was once a hub of the freedom movement is now one of the most expensive real estate deals in the Mumbai market, as per Zapkey.
According to the documents, the Kapadia family, which owned the legacy 19,891 sq ft bungalow, sold the property to Vageshwari Properties Private Limited. One of its directors is Elina Nikhil Meswani, the wife of Nikhil R Meswani, executive director on the board of Reliance Industries Limited. The documents showed the total built-up area of the property is approximately 19,891.87 sq. ft.
Also Read:₹276 crore”> Mumbai’s heritage property, Laxmi Nivas bungalow, sold for ₹276 crore
Dwarka Bungalow in Santacruz
A subsidiary of luxury real estate developer ZYJ Builders and Developers acquired the Dwarka Bungalow in Santacruz for ₹164 crore, according to documents accessed by data analytics firm Zapkey.
The property, known as Dwarka Bungalow, is situated on Linking Road, Santacruz West. Spread across 1,266.7 sq m (about 13,629 sq ft), the estate comprises a ground-plus-one structure, along with a garage and auxiliary sheds.
The document showed that the company paid ₹9.8 crore in stamp duty when purchasing the bungalow in November 2025.
The buyer, ZYJ Estates LLP, acquired the bungalow through partner Zafar Yunus Zaveri. Zaveri is associated with Yunus Jhaveri Architects and is linked to a luxury-focused real estate company involved in high-end residential development in Mumbai. According to the company website, ZYJ Developers is currently executing a project, Sequoia, on 16th Road, Santacruz West.
Niladri Bungalow, South Mumbai
Ajaykumar Vaghani, founder chairman of Hamilton Housewares Private Limited (which owns the ‘Milton’ brand and is a leading manufacturer and marketer of houseware products in India), purchased Niladri Bungalow in Nepean Sea Road for ₹203 crore in March 2025, according to property registration documents accessed by Zapkey.
The documents showed the bungalow was purchased on March 31, 2025 from United Spirits. It includes a land area of 1,911 sq mtrs and a ground-plus-two bungalow of 18,844 sq ft. A stamp duty of ₹12.23 crore was paid for the purchase of the bungalow.
Why Mumbai’s HNIs favour bungalows
For Mumbai’s ultra-rich, a bungalow is far more than a luxury residence; it’s a scarce, long-term asset that offers exclusivity, privacy and significant redevelopment potential. These are generational assets in a market where opportunities to acquire them are few and far between.
Unlike apartments, standalone bungalows in neighbourhoods such as Juhu, Bandra, Malabar Hill, Cuffe Parade and Nepean Sea Road are available in extremely limited supply, making them highly coveted.
Several factors drive demand for marquee bungalows:
- Scarcity premium: Very few independent bungalows remain in prime Mumbai neighbourhoods, making each transaction a rare opportunity.
- Land ownership: Buyers acquire the underlying land, not just the built-up home, giving the asset long-term appreciation potential.
- Redevelopment value: Many ageing bungalows sit on large plots that can be redeveloped into luxury residences, boutique apartments or family estates, subject to regulations.
- Privacy and security: Standalone homes offer greater exclusivity than high-rise apartments, making them popular among industrialists, celebrities and business families.
- Legacy assets: Bungalows are increasingly viewed as generational wealth, often retained within families for decades rather than traded frequently.
- Prestige factor: Owning a landmark bungalow in Juhu, Bandra, or Malabar Hill carries significant social cachet and is considered a symbol of status.
