Rajan Bharti Mittal sells Vasant Vihar property for Rs 45 crore

Brokers said the property is a corner house that commands a value of around Rs 6-7 lakh per sq yard. “This is a bullish rate thanks largely due to the supply-demand mismatch for standalone bungalows in the capital. The property is a corner house, a location preferred by several buyers,” said Rohit Chopra of SanD Advisory Pvt Ltd, a property consultancy firm.

Last year, Mittal had bought a 1,200-sq yard property at Delhi’s upmarket Shantiniketan for around Rs 85 crore.

Several ultra-high net-worth individuals looking for larger homes post the pandemic have bought houses in the national capital. There has been a flurry of high-end deals in the Delhi market since last year, almost all in premium South Delhi localities.

On February 2, a bungalow spread over 1,205 sq m (12,970 sq. ft) in south Delhi’s West End area was sold for Rs 91.5 crore. The property was bought by Vikram Ahuja of Ahuja Radios, the documents showed.

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A 1,200 sq yard property in Panchsheel Park, also in South Delhi, was sold to a Kolkata-based buyer for Rs 85 crore in 2022. Another property in Vasant Vihar was picked up by a local developer for about Rs 60 crore, while a two-apartment bungalow in Jor Bagh located on a 600 sq. yard plot was sold to two buyers for about Rs 28 crore each the same year, local brokers said.

Last year, JC Chaudhary, founder of tutorial chain Aakash Educational Services, bought a 2,000 sq. yard property in south Delhi’s Vasant Vihar for over Rs 100 crore and later the same year purchased a 5-acre farmhouse in south Bijwasan for about Rs 96 crore. The transactions took place soon after Byju’s, India’s biggest online education startup, signed a deal to acquire Aakash for $1 billion in April 2021.

Last year, Anil Gupta, promoter of KEI Industries, a housing wire and cable maker, bought a property spread over 2,000 sq. yards in Shantiniketan area for Rs 140 crore.

Sunil Vachani, chairman of Dixon Technologies, a contract manufacturer of electronic goods, purchased a 1,250-sq yard bungalow in Golf Links for about Rs 170 crore last year.