Rs 1,000-crore deal brewing in Lutyens’ Delhi as Tehri Maharaja plans bungalow sale

Rs 1,000-crore deal brewing in Lutyens’ Delhi as Tehri Maharaja plans bungalow sale

• Tehri Maharaja's 3.2-acre bungalow in Delhi may sell for Rs 1,000 crore
• Buyer also in talks to acquire Nehru's first residence for over Rs 1,100 crore
• Such deals set new benchmarks for ultra-luxury pricing in Lutyens' Delhi

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A landmark real estate transaction valued at around Rs 1,000 crore is underway in central Delhi, with Maharaja Manujendra Shah of Tehri Garhwal expected to sell his 3.2-acre bungalow property on Bhagwan Das Road to a Delhi-based entrepreneur with significant interests in the food and beverage sector, according to people aware of the matter.

If the deal is concluded, it would mark the businessman’s second marquee acquisition in the capital’s elite Lutyens’ Bungalow Zone (LBZ). He is already in talks to acquire Jawaharlal Nehru’s first official residence for over Rs 1,100 crore, sources said. The identity of the buyer is yet to be disclosed.

As part of the transaction process, a leading law firm representing the prospective buyer has issued a public notice, a customary final stage in property due diligence. The notice invites any individual or entity with a claim over the Bhagwan Das Road property to submit supporting documents.

“Our client is desirous of acquiring the residential property… and we are enquiring into the title of current owner Manujendra Shah,” the notice stated.

Both the Bhagwan Das Road estate and Nehru’s former residence on Motilal Nehru Marg are considered rare “trophy assets”. Such estates seldom change hands, and transactions in this micro-market often set new benchmarks for ultra-luxury pricing in India, a real estate consultant aware of the deal said.

Maharaja Shah could not be contacted for a comment on the development. The copy will be updated after receiving a response.

The Lutyens’ Bungalow Zone, named after British architect Edwin Lutyens, was developed between 1912 and 1930 as the administrative and residential heart of the British Raj’s new capital. Today, the LBZ spans nearly 28 square kilometres and comprises approximately 3,000 bungalows.

A majority of these properties are government-owned and occupied by senior ministers, judges, bureaucrats and diplomats. Largely prominent industrialists, business families and erstwhile royals, reinforcing the enclave’s reputation as one of India’s most exclusive and powerful residential addresses, privately own around 600 bungalows.

Big Ticket deals in Lutyens’ Delhi

If the Tehri Maharaja Bungalow deal happens, it will follow a series of high-profile acquisitions by industrialists and global business families in Lutyens’ Delhi.

In June 2025, Mumbai-based Gentex Merchants Pvt Ltd, a company linked with steel baron Lakshmi Mittal, has bought a 3,540-square yard bungalow on APJ Abdul Kalam Road (formerly Aurangzeb Road) in Lutyens’ Delhi for Rs 310 crore, making it one of the costliest deals of the year in Delhi NCR.

The bungalow, originally built in 1930, belonged to the erstwhile royal family of Alwar and was owned by Yashwant Singh, popularly known as Maharaj Kumar Yashwant Singh of Alwar.

Earlier in 2025, ChrysCapital partner Sanjay Kukreja and his wife Shaveta Sharma, who is the Central Square Foundation CEO, bought a property in the tony Golf Links area for Rs 155 crore.

Similarly, Ansal Group’s promoter Sushil Ansal's wife Kusum Ansal sold her bungalow at Feroze Shah Road for Rs 241 crore. The property was purchased by a Gujarat-based firm, Yatah Enterprise.