Delhi’s Lutyens’ Zone has now become a synonym for the costliest real estate deals in the country, or probably in Asia continent. In another such move, Anushka Singh, granddaughter of DLF chairman KP Singh, has bought a bungalow on the famous Prithviraj Road for ₹477 crore, making it the costliest deal in the city for an individual property.
The bungalow on Prithviraj Road in Lutyens’ Zone is spread over 7.143 square metre area including 780 meters of built up area. The bungalow was first owned by the family of late Air Chief Marshal Pratap Chandra Lal.
The sale deed shows that the deal was done at a price of ₹6.36 lakh per square meter. The price is after deducting 22 crore for the stamp duty. The stamp duty was paid by the seller. According to experts, the deal was finalised at a price lesser than the existing circle rate for properties in this locality.
This is however, not the first time that someone in the family of KP Singh has made such huge acquisition. In a deal that took place last year, KP Singh’s daughter, Renuka Talwar had bought a 1,189-sq-metre bungalow on a 4,925-sq-metre plot. The deal was finalised at ₹8.8 lakh per square meter and the total value of the transaction was ₹435 crore.
DLF Chairman, KP Singh himself owns 2 bungalows on APJ Abdul Kalam Road.
Anushka Singh is the grand daughter of KP Singh and daughter of DLF’s vice-chairman Rajiv Singh. Anushka is married to Arjun Bhatia, son of Jubilant Bhatia Group Founder Hari S Bhatia.
Lutyens’ Bungalow Zone covers the 3000-acre area and it is spread over 28.73 square kilometres. It houses 1000 bungalows and out of them, only 70 bungalows are privately owned by corporates and individuals. Rest all the bungalows are reserved for politicians, ministers and other government officials.