Mumbai’s iconic Laxmi Nivas bungalow located on the elite Nepean Sea Road, which served as a secret hideout for freedom fighters during the Quit India Movement in the 1940s, has been sold for ₹276 crore, documents accessed by Zapkey showed.
₹276 crore. (Representational Photo)(Pixabay)” title=”Mumbai’s iconic Laxmi Nivas bungalow on Nepean Sea, which served as a secret hideout for freedom fighters during the Quit India Movement in the 1940s, has been sold for ₹276 crore. (Representational Photo)(Pixabay)” />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 that owned the legacy 19,891 sq ft bungalow has sold the property to Vageshwari Properties Private Limited, one of whose directors is Elina Nikhil Meswani, wife of Nikhil R Meswani, executive director on the board of Reliance Industries Limited.
The total built-up area of the property is approximately 19,891.87 sq. ft, the documents showed.
The Transfer Deed was registered on February 28, 2025. There are 15 sellers including Upendra Trikamdas Kapadia and the buyer is Vageshwari Properties Private Limited, the documents showed.
The property includes the land and building and is spread across 2,221 sq. yards. It includes the ground plus two upper floors and the rear side of the horizontal floor plus an upper floor, the documents showed.
An email has been sent to Elina Nikhil Meswani. The copy will be updated in case a response is received. The buyers could not be reached for a comment.
Laxmi Nivas on Nepean Sea Road was a secret hideout for freedom fighters during the Quit India Movement. Between 1942 and 1945, the house had served as a secret hideout for leaders of the Quit India Movement. According to a media report the sea-view bungalow was home to Ram Manohar Lohia, Jaiprakash Narayan, Achyut Patwardhan and Aruna Asaf Ali in the 40s, and it was also the broadcasting centre for Netaji Subhash Chandra Netaji Subhash Chandra Bose’s Azad Hind Radio during this period.
The Kapadia family had bought the three-storied bungalow from a Parsee family for about ₹1.20 lakh in 1917. Currently, the land parcel has a development potential of around 45,000 sq ft built-up area.
Other bungalow deals in Mumbai
Uday Kotak and his family members had purchased 12 sea-facing apartments for ₹202 crore in a residential complex named Shiv Sagar Building on Worli Sea Face, according to property registration documents accessed by Zapkey.com
In 2024, Rekha Jhunjhunwala, widow of the late billionaire stock investor Rakesh Jhunjhunwala, was in the news for having purchased almost all the units in a south Mumbai residential building to ward off any obstruction to the vista of the Arabian Sea from her Malabar Hill home in South Mumbai.
In what is perhaps one of the biggest property deals in the country, family members and associates of D’Mart founder Radhakrishna Damani had bought as many as 28 housing units worth ₹1,238 crore in Mumbai’s Worli in 2023, registration documents accessed by Zapkey.com showed.
Hindustan Times had reported in March 2023, that the JP Taparia family, the promoters of contraceptive maker Famy Care Ltd, had purchased six apartments spanning a net area of in the Lodha Malabar project in south Mumbai’s Malabar Hill for ₹369.55 crore, documents accessed and shared by IndexTap.com and Zapkey.com had showed.
