Who bought Mumbai's historical Laxmi Nivas for Rs 276 cr?

Thu, 20 March 2025

14:35

Jayprakash Narayan has lived in this house

Mumbai's Laxmi Nivas bungalow, just off Nepean Sea Road in south Mumbai, has been sold to Vageshwari Properties Private Limited for Rs 276 crore by the Kapadia family.

Vageshwari Properties lists Elina Nikhil Meswani as one of its directors, according to the ministry of corporate affairs. She is married to Nikhil Meswani, director, Reliance Industries.

The property is located in Mumbai's Malabar Hill. It consists of a three-floor building, with the land spanning 2,221 sq yards or 1,857.02 sq metres, with a built up area of 2,210.2 sq yards.

According to documents with Zapkey, the sale took place last month at Rs 1.38 lakh per sq ft.

Built by a Parsi family from Old Bombay in 1904, the bungalow was sold to the Kapadia family in 1917 and has been their home for more than three generations.

The sea-view bungalow has hosted many historical figures. It served as a secret hideout for freedom fighters in the 1940s, and activists like Ram Manohar Lohia, Jayaprakash Narayan, Aruna Asaf Ali and others stayed there during the Quit India movement.

The property had been up for sale since 2016.The heritage residence is located opposite the diplomatic residence of the consulate general of the Russian Federation, which is in close proximity to Priyadarshani Park, one of the most sought-after and valuable neighbourhoods in Mumbai.

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