Anand died on 6 July 1997, at the age of 76 in Mumbai. He bequeathed a very sizable portion of his wealth to Priya Rajvansh. This included the right of lifelong residence in his sprawling beachfront bungalow in Juhu, Mumbai, where real estate is among the most expensive in India. She was given no right to sell the property, which would revert to Anand's sons upon her death; the arrangement was made because Priya Rajvansh and Anand had had no children together, and this would enable her to live her whole life in the house that she had shared with him for two decades, while not depriving his sons of this valuable piece of real estate.