India, Jan. 8 -- A nearly seven-decade-old sea-facing heritage bungalow in Juhu has been put up for sale at an asking price of around Rs.250 crore. The property, owned by Gautam Nanavati of the family associated with Nanavati Max Super Speciality Hospital, is located on Juhu Tara Road and is among the rare large-format bungalows left in the coastal suburb.

Spread over a 1,355 sq metre plot, the property, known as Leela Bungalow, has a built-up area of around 8,500 sq ft. The ground-plus-one structure is classified as a Grade IIB heritage building, a status that allows refurbishment while mandating the preservation of its architectural and cultural character.

"Under this heritage classification, one can refurbish the home by keeping all ...