The city of Mumbai is filled with avenues of history. There is history asleep in every gully and lane behind Mumbai’s iconic landmarks. One such landmark, the Laxmi Niwas Bungalow located in Mumbai‘s upmarket and pricey Napean Sea, was sold for a whopping Rs 276,00,00,000 (Rs 276 crore).
This is one of the biggest deals made in the city for a heritage/vintage property. This edifice has a special place in India’s independence movement, as it served as a ‘safe house’ for many important freedom fighters in the early 1940s, right before Independence.
This is a time in history when the British Raj was under pressure from Quit India movement, which saw many rallies behind the common cause of independence.
The building was originally constructed in 1904, and it goes by the name of Kapadia Laxmi Nivas. When it comes to the deal, this landmark deal came to pass as the owners of the building, the Kapadia family sold the 19,891 sq ft bungalow to Mumbai-based Wageshwari Properties Private Limited.
According to a report, Elina Nikhil Meswani, one of those Directors, is wife of Nikhil R Meswani, who is an executive Director on the board of Reliance Industries Limited. As per a source, the deal transpired on February 28, 2025.
Most expensive real estate localities
Napean Sea Road in south Mumbai or officially Mumbai City District, is one of the most expensive real estate localities, not just in the whole of Mumbai, but in the country at large. When we look at the dimensions of the property, it is spread on a 19,891 sq ft plot, in which, the building is spread across 2,221 sq. yards.
The Laxmi Niwas property also includes the ground plus two upper floors and the rear side of the horizontal floor plus an upper floor. According to 99acres.com, a sq ft would cost buyers around Rs 78,700. This is far higher than Vile Parle (the airport is located here), where a sq ft cost around Rs 40,000.
In fact, Real estate investment is a crucial decision and should be taken with thorough research and consideration. Keep the important factors in mind, understand what one is looking for, and invest in the right property for future growth.
High ROI In Future Mumbai lists among some of the most favorable investment destinations of the country. Mumbai possesses the scope for high ROI in many of its localities. Areas like Andheri (East), Vile Parle (East), Ghatkopar East observed 20% ROI in the last financial year.
Mumbai- the most metropolitan part of India is always bustling with culture, fast life, and excitement. Known for its vibrant streets, towering skyscrapers, and attractive life; it is one of the best places to invest in real estate. Buying a property in Mumbai is a significant and difficult decision, which should be made after carefully considering various factors.
The real estate market is dynamic and competitive. Every day, several new development projects are coming into sight, especially in a metro city like Mumbai. That’s why, if one is looking to purchase a property in Mumbai, there are several important factors to consider.
The first thing that comes to mind is the kind of place one wants to live in. There can be several options, but the final decision depends on the requirements, standard of living, and of course financial flexibility.
Mumbai is an expensive city and buying a home here can easily put a financial strain on anyone’s life. So, first of all finalize a budget. This may narrow down the choices. Mumbai’s real estate market offers a range of options, right from affordable flats to luxury villas and gated communities.
The location holds immense importance-ranging from posh neighborhoods to suburban areas. All kinds of places have their set of pros and cons too. But the right property depends on what suits convenience and lifestyle. Keep in mind the proximity to public transport, local markets, schools, parks etc. Buying a home is a single-time investment so make sure not to miss out on anything.
For an investment purpose, evaluate the resale and rental value for the same. As the market trends keep on changing, consult a trusted dealer or developer to determine which property may fetch more benefits, where factors such as market trends, demand, and location play an integral role.
The overall layout including the living room, kitchen, and balcony space; number of bathrooms and bedrooms – all these factors play a crucial role in deciding where to begin a new life.
Aso be on alert, as chances can be to join hands with the wrong realtor, developer, or builder while purchasing a property. This can lead to a lot of problems in the long run. So, collaborate with a trusted builder and developer. Check his/her past records, construction quality, customer reviews, and delivery times for a better decision.
Also ensure that all the clearances and approvals of the property to be purchased are in order and the legal status is also verified. Check the certificates, title of the property, and compliance documents for a smooth transaction. Review all the property-related documents carefully and consult regarding the same with a financial and legal expert. Always invest in properties whose resale value will increase with time. Presently, Andheri West is also Mumbai’s hidden gem for investment opportunities.
Buying a property in Mumbai opens up a plethora of investment opportunities. Being one of the top cities in India, to purchase property in Mumbai is a wise choice, if one can easily.
Mumbai is a populated city with a continuously growing demand for residential properties. This maintains a consistent demand in the real estate sector and grows your investment prospects. The city is a financial hub of India. People from all over India come to settle here. But all of them cannot afford a home. That’s why, they opt for rental spaces. This makes purchasing a property in Mumbai attractive and profitable as an investment. Various sectors are continuously undertaking huge projects to improve infrastructure. This includes airport, metro, and coastal road development which positively impact the value of every property in the city.
The land here is limited while the demand is continuously rising. This has impacted the property rates and made the city a perfect place for investment purposes. Mumbai also has a happening nightlife, a Bollywood aura, and an impressive cultural scene that is hard to resist. There are various popular locations including Colaba, Bandra, and Andheri where buying a property is no less than a dream come true.
Mumbai, formerly known as Bombay, is the capital of the Indian state of Maharashtra. With a population of 13 million, Mumbai is the most populous and most densely populated city in India. It is also known as the industrial capital of India.
Key areas such as Bandra Kurla Complex (BKC), Andheri, Powai, and Goregaon have emerged as major investment hotspots due to their excellent connectivity, thriving commercial centers, and upscale amenities, positioning them as top choices for those looking to invest in Mumbai property.
Educationist/Administrator/Editor/Author/Speaker
Commencing teaching in his early twenties, Prof Aggarwal has diverse experience of great tenure in the top institutions not only as an educationist, administrator, editor, author but also promoting youth and its achievements through the nicest possible content framing. A revolutionary to the core, he is also keen to address the society around him for its betterment and growth on positive notes while imbibing the true team spirit the work force along with.
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