Mumbai bungalow that hosted Nehru, JP, Lohia up for grabs

New Delhi, A colonial bungalow -- Laxmi Nivas in Mumbai -- that hosted the likes of Pandit Jawaharlal Nehru, Ram Manohar Lohia, Aruna Asaf Ali, Achyut Patwardhan and Jaiprakash Narayan -- is up for sale.

Built by a Parsi family from Old Bombay in 1904, Laxmi Nivas was sold to the Kapadia family 10 years later, property consultant CBRE said in a statement.

The bungalow, which has since been home to over three generations of the Kapadia family, is situated just off Nepean Sea road, it added. 

CBRE has been appointed the sole advisor for this transaction to assist with the marketing and sale through a structured process and closed bid.

The heritage residence sits over 1,865 sq metre of land and is located opposite the diplomatic residence of the Consulate General of Russian Federation. It is also in close proximity to Priyadarshani Park, one the most sought-after and valuable neighbourhoods for homes in Mumbai, CBRE said.

CBRE Capital Markets MD Nikhil Bhatia said the rarity of such independent residences coming on the market has resulted in considerable enquiries and interest.

High net worth individuals seeking discretion and more importantly, those who seek privacy prefer to buy independent houses as opposed to staying in penthouses within high-rise developments, he added.