A PIECE OF PRE INDEPENDENCE HISTORY IN BRICK AND MORTAR: NOW ACCESSIBLE TO AFICIONADOS

Posted by: at 8/15/2016 06:16:00 am

• House was bought for just over 1 lakh in 1917 • The second floor was built few years later • Jawaharlal Nehru visited the house on occasion • Between 1942 and 1945, Laxmi Nivas was one of the “safe houses” used by these political figures as a hide-out from the British government. • Jaiprakash Narayan corresponded with Gandhiji via letters while staying here • During that time, many princely states had their palaces on this street including Bikaner Palace, Kutch Castle, Wakaner House, etc 

A PIECE OF PRE INDEPENDENCE HISTORY IN BRICK AND MORTAR: NOW ACCESSIBLE TO AFICIONADOS

Mumbai, August 12, 2016: Built by a venerable Parsi family from Old Bombay in 1904, ‘Laxmi Nivas’, as it is known, was sold to the Kapadia family just 10 years later.  

This colonial bungalow has since been home to over three generations of the Kapadia family. Situated just off Nepean Sea Road, Laxmi Nivas, with its high ceilings, overhanging portico verandahs, shuttered wooden window frames, and extensive grounds has been witness to significant moments of the city’s history and has hosted historic figures such as Pandit Jawaharlal Nehru, Ram Manohar Lohia, Aruna Asaf Ali, Achyut Patwardhan, Jaiprakash Narayan and so on. 

“Pandit ji (Nehru) used this house as his hide-out during India’s pre-independence era. Jinnah would also operate undercover from Jinnah House, which is a just a stone’s throw away; while Gandhiji too used another house in the neighborhood for his political campaigns. My father who was just a boy of ten, tells me he used to act as a messenger boy, delivering messages between the various homes in the neighbourhood to avoid suspicion,” says  Nand Kapadia, one of the owners of Laxmi Nivas.” 

The 100-year-old residence, which sits on a land parcel of 1,865 sq.m., is one the most prestigious addresses in Mumbai. Located diagonally opposite the diplomatic residence of the Consulate General of the Russian Federation and in close proximity to  Priyadarshani Park which is spread over 20 acres along the sea side, Nepean Sea Road represents one the most sought-after and valuable neighborhoods for homes in Mumbai.  

The rarity of such independent residences coming on the market, has resulted in considerable enquiries and interest.” says Nikhil Bhatia, MD, CBRE Capital Markets. High Net Worth Individuals seeking discretion and more importantly, those who seek privacy, prefer to buy independent houses as opposed to staying in penthouses within high-rise developments.  

International Property Consultant, CBRE has been appointed as the sole advisor for this transaction to assist with the marketing and sale through a structured process and closed bid. 

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About CBRE Group, Inc.

 CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue).  The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide.  CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.  Please visit our website at www.cbre.com.
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