The historic Laxmi Nivas bungalow on Mumbai’s Nepean Sea Road near Malabar Hill area has been sold for Rs 276 crore to Vageshwari Properties Private Limited by the Kapadia family. Documents from the Ministry of Corporate Affairs as accessed by media reports reveal that Elina Nikhil Meswani one of the directors of Vageshwari Properties. She is married to Nikhil Meswani an executive director at Mukesh Ambani’s Reliance Industries. Laxmi Nivas Bungalow The bungalow which is spread across 2221 square yards (1857.02 square meters) of land has a three-floor structure with a built-up area of 2210.2 square yards. The sale price shows that the deal is done at Rs 1.38 lakh per square foot according to transaction details available on Zapkey. Located opposite the Russian Consulate’s diplomatic residence and close to Priyadarshini Park the bungalow occupies one of Mumbai’s most prestigious and sought-after neighborhoods. The property was listed for sale in 2016 receiving attention due to its heritage and prime location. The deal was finalized last month but buyers or sellers haven’t given any official comment on the transaction. Historical Significance It was built by a Parsi family in 1904 Laxmi Nivas became the Kapadia family’s home in 1917 almost for over three generations. This sea-view property has a rich past connected to India’s freedom struggle. From 1942 to 1945 it was a secret hideout for leaders of the Quit India Movement including Ram Manohar Lohia Jayaprakash Narayan Achyut Patwardhan and Aruna Asaf Ali. It also served as the broadcasting center for Netaji Subhash Chandra Bose’s Azad Hind Radio which played a major role in India’s independence movement.