From John Abraham to Notandas Realty: Why Mumbai's billionaires continue to chase trophy bungalows

When Bollywood actor John Abraham acquired a bungalow in Mumbai's Bandra West for ₹ 84 crore, it was more than another celebrity real estate transaction, it underscored the enduring appeal of trophy homes in a city where land is the ultimate luxury. When Bollywood actor John Abraham acquired a bungalow in Mumbai's Bandra West for ₹84 crore, it was more than another celebrity real estate transaction, it underscored the enduring appeal of trophy homes in a city where land is the ultimate luxury. (Picture for representational purposes only) (Gemini Generated Photo ) Days earlier, the Jagwani family-promoted Notandas Realty strengthened its presence in Mumbai's ultra-luxury property market by acquiring Villa Wilson, a Spanish-style bungalow in Juhu, for ₹ 135 crore. Owned for over five decades by the family behind Wilson Pens, the property sits in one of the city's most coveted neighbourhoods, close to actor Amitabh Bachchan's iconic residence, Jalsa. The deal, registered on July 13, 2026, is the latest in a string of marquee bungalow transactions that continue to redefine the top end of Mumbai's housing market. For Mumbai's ultra-rich, a bungalow is far more than an expensive address; it is a rare asset class that combines exclusivity, legacy and the promise of future value. In a city dominated by high-rise towers, independent homes in neighbourhoods such as Juhu, Bandra, Malabar Hill, Cuffe Parade and Nepean Sea Road are exceptionally scarce, making every sale a headline event. Unlike apartments, these properties come with ownership of the underlying land, offering owners not only privacy and prestige but also the flexibility to redevelop the site into bespoke residences or multi-generational family estates, subject to regulatory approvals. That scarcity has created what industry experts call a ‘trophy bungalow market’, where demand consistently outstrips supply. For industrialists, business families and celebrities, such homes represent more than lifestyle purchases, they are long-term stores of wealth. The land itself is often more valuable than the structure standing on it, with appreciation driven by limited availability rather than frequent market turnover. Many of these homes remain within families for decades, changing hands only when an exceptional opportunity arises. Also Read: Real Estate trends: Five clinchers for a ₹ 100 crore property deal The appeal is reinforced by intangible factors that money alone cannot easily buy. Standalone bungalows offer a level of privacy, security and exclusivity that even the most luxurious apartments struggle to match. They also carry immense social prestige, with addresses in Juhu, Bandra or Malabar Hill symbolising success and legacy. As Mumbai's supply of independent homes continues to shrink, trophy bungalows are increasingly being viewed not merely as luxury residences but as generational assets, making every marquee transaction closely watched by investors and the real estate market alike. Mumbai's marquee bungalow deals Leela bungalow sold for ₹ 221 crore Earlier this year, a rare sea-facing, heritage 6BHK Art Deco bungalow named Leela in Mumbai’s Juhu , owned by the Nanavati family, was sold to Notandas Realty, an arm of the Mahesh Notandass Jewellers Group, for ₹ 221 crore, according to property registration documents reviewed by Hindustan Times Real Estate. Listed as a Grade IIB heritage property, the bungalow is located on Juhu Tara Road near the iconic Juhu Beach. Built in the 1950s, the property, owned by the Nanavati family, promoters of Nanavati Hospital in Vile Parle, was sold through a bidding process, sources said. Laxmi Nivas, South Mumbai Mumbai’s iconic Laxmi Nivas bungalow located on the elite Nepean Sea Road and which served as a secret hideout for freedom fighters during the Quit India Movement in the 1940s, was sold for ₹ 276 crore in February 2025, documents accessed by Zapkey showed. What was once a hub of the freedom movement is now one of the most expensive real estate deals in the Mumbai market, as per Zapkey. Dwarka Bungalow in Santacruz A subsidiary of luxury real estate developer ZYJ Builders and Developers acquired the Dwarka Bungalow in Santacruz for ₹ 164 crore, according to documents accessed by data analytics firm Zapkey. The property, known as Dwarka Bungalow, is situated on Linking Road, Santacruz West. Spread across 1,266.7 sq m (about 13,629 sq ft), the estate comprises a ground-plus-one structure, along with a garage and auxiliary sheds. https://www.hindustantimes.com/real-estate/gautam-adani-and-family-top-grohe-hurun-india-real-estate-rich-list-2026-overtake-dlfs-rajiv-singh-101784020135787.html The document showed that the company paid ₹ 9.8 crore in stamp duty when purchasing the bungalow in November 2025. Also Read: Mumbai real estate bungalow deals: 4 transactions of independent homes worth over ₹ 864 crore Niladri Bungalow, South Mumbai Ajaykumar Vaghani, founder chairman of Hamilton Housewares Private Limited (which owns the 'Milton' brand and is a leading manufacturer and marketer of houseware products in India), purchased Niladri Bungalow in Nepean Sea Road for ₹ 203 crore in March 2025, according to property registration documents accessed by Zapkey. The documents showed the bungalow was purchased on March 31, 2025 from United Spirits. It includes a land area of 1,911 sq meters and a ground-plus-two bungalow of 18,844 sq ft. A stamp duty of ₹ 12.23 crore was paid for the purchase of the bungalow.