India, April 24 -- The Grade IIB heritage, sea-facing Leela Bungalow in Juhu Tara Road, which drew interest from developers and businessmen after being listed, has been sold for Rs.221 crore.

The ground-plus-one Art Deco structure, spread over a 1,355 sq metre plot with a built-up area of around 8,480.68 sq ft, is owned by Gautam Nanavati of the family associated with Nanavati Max Super Speciality Hospital. It has been acquired by Notandas Realty, part of the Notandas Jewellers group.

The transaction was formalised on Wednesday after completion of stamp duty and registration, a source aware of the deal told Hindustan Times.

According to sources, Notandas Realty, whose directors are father-son duo Mahesh Notandas Jagwani and Harsh Mahes...