Lutyens' Delhi, a prestigious and highly regulated heritage zone, continues to witness significant real estate activity with a new wave of prominent individuals acquiring bungalows in this exclusive enclave.
Characterised by sprawling green spaces and colonial-era architecture, the Lutyens’ Bungalow Zone (LBZ) attracts corporate leaders, high net-worth individuals (HNIs), and the like, despite stringent construction and renovation regulations, aimed at preserving its unique character. In the last few years, there have been a few notable acquisitions which highlight this trend.
The latest is a prime purchase by ChrysCapital partner Sanjay Kukreja and his wife Shaveta Sharma, who is the Central Square Foundation CEO, in the tony Golf Links area for Rs 155 crore. The couple paid a stamp duty of Rs 9.30 crore for the deal.
Also Read: ChrysCapital partner Sanjay Kukreja, wife buy Rs 155-crore bungalow in Delhi's Golf Links
Some of the other prominent new owners in LBZ include Vasudha Rohatgi, wife of former Attorney General of India Mukul Rohatgi; Siddhant Real Estate, a subsidiary of DLF Limited; Rangoli Resorts in which Sheela Foam executive chairman Rahul Gautam and his family members are directors; Gujarat-based Yatah Enterprise, which bought a bungalow at Feroze Shah Road in Lutyens' Delhi for Rs 241 crore from Ansal Group’s promoter Sushil Ansal's wife Kusum Ansal; Vijay Paytm founder Shekhar Sharma; and, Adani Group's Gautam Adani.
Why is Lutyens’ Delhi popular among HNIs?
The old owners of prime properties are now slowly being joined by new elites. According to market observers, for the new owners, it is about more than just a prestigious address. It is about acquiring a piece of Delhi's history, a sanctuary amidst the city's relentless pace.
Owning a bungalow in Lutyens’ Delhi is not just about having a home but about status symbol and a testament to one's influence in the political corridors. The area is home to the country's top politicians, bureaucrats, and leading industrialists, creating an exclusive and influential community.
An address in Lutyens' Delhi — named after the renowned British architect and designer of New Delhi, Edwin Lutyens (1869-1944), is always a sought-after status symbol. The LBZ includes approximately 1,000 bungalows, of which around 65-70 are reserved for private use.
Several areas of Lutyens’ Delhi are popular among the country’s elite. They include Prithviraj Road, Hailey Road, Amrita Shergill Marg, Aurangzeb Road, Ferozeshah Road, Tees January Marg, Motilal Nehru Marg, Sundar Nagar, Golf Links, and Kautilya Marg in diplomatic enclave, among others.
Some marquee deals in Lutyens' Delhi
In one of the most expensive real estate deals, Ansal Group’s promoter Sushil Ansal's wife Kusum Ansal had sold her bungalow at Feroze Shah Road for Rs 241 crore. The property was purchased by a Gujarat-based firm Yatah Enterprise.
In October 2024, Sidhant Real Estate, backed by DLF chairman Rajiv Singh and his family, has acquired a sprawling bungalow on Prithviraj Road for Rs 150 crore.
In the same month, Rangoli Resorts, led by Sheela Foam executive chairman Rahul Gautam and his family members, has acquired a bungalow on Hailey Road for Rs 165 crore. Sheela Foam, known for its Sleepwell brand, specialises in making mattresses and comfort accessories.
In February 2023, Bhanu Chopra, founder of RateGain, had purchased a bungalow at Golf Links for Rs 127.5 crore. In the same month, former Attorney General of India Mukul Rohatgi’s wife, Vasudha Rohatgi, purchased 1,806 square metre (sqm) bungalow in Delhi's tony Golf Links for Rs 160 crore.
In December 2022, Maxop Engineering director Shailesh Arora had purchased a 480.7 sqm bungalow in Golf Links for Rs 68.5 crore.
In August 2022, Aakash Chaudhry of Aakash Educational Services Limited had bought a 1,293.47 sqm bungalow for Rs 137 crore at Kautilya Marg in Delhi's Chanakyapuri area.
In June 2022, former Solicitor General of India, Gopal Subramanium, had purchased a spacious 724 sqm bungalow in the Sunder Nagar area for Rs 85 crore.
In 2021, Chairman and Managing Director of Dixon Technologies, Sunil Vachani had bought a 1045.15 sqm bungalow in Golf Links for Rs 170 crore.
In 2020, Gautam Adani, chairman of the Adani Group, purchased a sprawling bungalow located near Bhagwan Das Road for Rs 400 crore.
In 2017, Paytm founder and CEO Vijay Shekhar Sharma purchased a bungalow for Rs 82 crore in Golf Links area.
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