Investing in luxury properties worth lakhs and crores is not uncommon in Delhi, but spending over Rs 100 crores on a single property raises eyebrows. Recently, a bungalow in Lutyens’ Delhi sold for a whopping Rs 150 crores, stirring discussions in the real estate market.
Massive Investment by DLF’s Subsidiary
Sidhant Real Estate, a subsidiary of DLF, purchased the luxurious bungalow located on Prithviraj Road in Lutyens’ Delhi for Rs 150 crores. The property was acquired from Rangoli Resorts. In a region where bungalows are often valued at Rs 500 crore or more, this sale is part of an ongoing trend of high-value transactions.
Details of the Sale
The 1839 sqm bungalow was bought in October for a substantial Rs 150 crores, with Sidhant Real Estate paying Rs 10.5 crores in stamp duty. This marks another significant real estate deal in the upscale area of Lutyens’ Delhi, which is known for its multi-crore properties.
Rajiv Singh and DLF’s Role
The transaction highlights the continued influence of DLF and its chairman, Rajiv Singh, one of India’s wealthiest real estate entrepreneurs. Singh, who holds a degree in Mechanical Engineering from MIT, oversees a company with a market capitalization of Rs 1.86 lakh crore, making DLF a dominant force in India’s real estate sector.
