A major deal has taken place in Delhi’s real estate market, where a luxurious bungalow has been sold for 310 crore rupees. This deal occurred in one of the most expensive areas of Lutyens’ Delhi, once again highlighting the high price of prime property in this area. This deal has created a stir in the luxury real estate market and proves that the demand for premium properties remains strong.

Mumbai-based Gentex Merchants Private Limited has purchased a 3,540 square yard bungalow on APJ Abdul Kalam Road for ₹310 crore. The registration for this bungalow reportedly took place in the month of June. A stamp duty of approximately 22 crore rupees was paid for it.

What is special about this bungalow?

This bungalow was constructed in 1930 by a royal family from Alwar. The owner was Yashwant Singh, who was known as Maharaj Kumar Yashwant Singh of Alwar. Yashwant Singh had also purchased a bungalow worth 100 crore rupees in Delhi’s Golf Links area earlier this year. The deal for this bungalow, spread over 3,540 square yards (31,860 square feet), was finalized at a rate of 8.75 lakh rupees per square yard. The Lutyens Bungalow Zone (LBZ) is surrounded by greenery and old-era buildings. There are strict rules for construction and repairs here to maintain its historic identity.

In the last few years, bungalows worth 200 to 400 crore rupees have been sold in this area; the buyers include large corporate houses, owners of tech companies, and old business families. The company that purchased the bungalow, Gentex Merchants Private Limited, has a director named Surya Kumar Kanodia. No comment was made by Gentex Merchants on this matter.

This area is a favorite among big business leaders and wealthy people. Earlier this year, ChrysCapital partner Sanjay Kukreja and his wife Shweta Sharma purchased a property in the Golf Links area for 155 crore rupees. Shweta Sharma is the CEO of the Central Square Foundation. Kusum Ansal, wife of Ansal Group promoter Sushil Ansal, sold her bungalow on Feroz Shah Road for 241 crore rupees. It was purchased by a Gujarat-based company named Yatah Enterprise.

Lutyens’ Delhi

Lutyens’ Delhi is the central administrative area of New Delhi, India, named after its chief architect, Sir Edwin Lutyens. It was primarily built in the 1920s and 1930s to serve as the new capital of British India, replacing Calcutta. The area is renowned for its grand, spacious layout, wide tree-lined avenues, and iconic buildings like the Rashtrapati Bhavan (the President’s residence) and India Gate.

APJ Abdul Kalam Road

APJ Abdul Kalam Road is a major arterial road in the heart of New Delhi, India. It was originally named Aurangzeb Road after the Mughal emperor but was renamed in 2015 in honor of Dr. A.P.J. Abdul Kalam, India’s beloved former President and scientist. The road is now a significant tribute to his legacy and is lined with important government buildings and institutions.

Alwar

Alwar is a historic city in Rajasthan, India, founded in the 11th century and ruled by the Rajput kingdom of Matsya. It is renowned for the magnificent Bala Qila (Alwar Fort), a hilltop fortress dating back to the 15th century. The city also features the beautiful City Palace and Siliserh Lake Palace, reflecting its rich royal heritage.

Golf Links

“Golf Links” is a common name for a golf course, rather than a single specific cultural site. Historically, the term originates from the sport’s beginnings on the coastal “linksland” of Scotland, characterized by sandy soil, dunes, and tough grasses. These courses are celebrated for their natural, undulating terrain and are considered the traditional home of the game of golf.

Lutyens Bungalow Zone (LBZ)

The Lutyens Bungalow Zone (LBZ) is a protected area in New Delhi, India, renowned for its expansive bungalows set in large plots, built during the British Raj. It was designed as the official residential precinct for senior government officials as part of Edwin Lutyens’ and Herbert Baker’s overall plan for New Delhi in the early 20th century. Today, the LBZ preserves its unique architectural and historical character, housing India’s political elite and serving as a prime example of colonial-era urban planning.

Feroz Shah Road

Feroz Shah Road is a major thoroughfare in the heart of New Delhi, India. It is named after Feroz Shah Tughlaq, a 14th-century Sultan of the Tughlaq dynasty, known for his architectural projects. Today, the road is a prominent commercial and institutional hub, housing various government offices and corporate buildings.

ChrysCapital

ChrysCapital is not a place or cultural site, but a prominent private equity firm based in India. Founded in 1999, it specializes in investing in Indian companies across sectors like healthcare, financial services, and technology. The firm has played a significant role in the growth of India’s private equity landscape by backing numerous successful businesses.

Central Square Foundation

The Central Square Foundation is a non-profit organization based in India, established in 2012. It focuses on improving the quality of school education, particularly for underprivileged children, by collaborating with government bodies and other partners to implement systemic reforms.