Mumbai’s historic Laxmi Nivas bungalow on Nepean Sea Road is set for a dramatic transformation, with the landmark seafacing property proposed to be replaced by a 110.6-metre residential tower. The bungalow is known for its reported connection to India’s freedom movement, including its association with underground leaders during the Quit India Movement.
The redevelopment is being undertaken by Vageshwari Properties, which acquired the property from the Kapadia family for Rs 276 crore. The proposed development marks a major shift from the original low-rise bungalow to a 21-upper-floor luxury residential tower.
The former structure comprised a ground floor and two upper floors and had reportedly become dilapidated before being demolished. The new project is planned on a 1,857.02 sq m plot, with a total construction area of around 14,428.98 sq m.
Luxury Tower Planned on Nepean Sea Road
The proposed tower will include six floors primarily designated for parking, along with amenity and refuge floors. Plans also provide for a garden and evacuation level, fitness centre and swimming pool, apart from the residential floors.
The 21st upper floor is proposed to have three lifts and two staircases, according to the development plan.
Property’s Century-Old History
The property has a history dating back more than a century. The Kapadia family had purchased the bungalow from a Parsi family in 1917 for around Rs 1.20 lakh. After remaining with the family for decades, the property was sold in February 2025 for Rs 276 crore.
The redevelopment has also been examined from the coastal regulation perspective. The Maharashtra Coastal Zone Management Authority (MCZMA) recommended the proposal at its 201st meeting on August 11, noting that the site falls under CRZ-II.
MCZMA observed that reconstruction of an authorised building in a CRZ-II area is permissible under the CRZ Notification, 2019, subject to conditions including no change in land use and compliance with applicable town-planning regulations and FSI norms.
Museum Also Proposed
Alongside the residential tower, the developer has proposed a separate ground-plus-one-floor museum on the property. According to the proposal, the museum would remain non-commercial and be intended solely for private and personal use.
The redevelopment of Laxmi Nivas reflects the rapid transformation of Mumbai’s older residential landscape, where historic bungalows and low-rise properties are increasingly making way for vertical developments.
For Nepean Sea Road and the wider Malabar Hill area, the project represents another example of how Mumbai’s limited land availability and premium property values are reshaping some of the city’s most historic neighbourhoods, even as questions around preserving architectural and historical legacies continue to accompany redevelopment.
Source: The Free Press Journal
