Historic Laxmi Nivas Bungalow Sold for ₹276 Crore in Landmark Mumbai Deal
The iconic Nepean Sea Road property, tied to India's independence movement, was purchased by a Reliance-linked firm after nearly a decade on the market.
- The Laxmi Nivas bungalow, built in 1904 and owned by the Kapadia family since 1917, was sold for ₹276 crore to Vageshwari Properties Private Limited.
- The property, associated with India's Quit India Movement, served as a safe house for freedom fighters and a broadcasting center for Azad Hind Radio.
- The buyer, Vageshwari Properties, is linked to Reliance Industries through Elina Nikhil Meswani, wife of RIL executive director Nikhil Meswani.
- The sale involved 15 members of the Kapadia family and was finalized on February 24, 2025, with registration completed on February 28, 2025.
- Spanning a plot of 19,989 sq ft, the bungalow is one of Mumbai's most expensive real estate transactions, reflecting the growing corporate interest in heritage properties.
Hindustan Times 
Free Press Journal 
