 "DLF firm Sidhant Real Estate buys bungalow in Lutyen's Delhi for Rs 150 cr")
Sidhant Real Estate, promoted by DLF chairman Rajiv Singh and his family members, has bought a sprawling bungalow in Lutyens' Delhi's Prithviraj Road for Rs 150 crore, according to documents accessed through real estate data analytics firm CRE Matrix.
Transaction Overview:
- Buyer: Sidhant Real Estate Developers & Services Pvt Ltd
- Seller: Rangoli Resort Pvt Ltd
- Transaction Value: Rs 150 Crore (Rs 1,50,00,00,000)
- Stamp Duty: Rs 10.50 Crore (Rs 10,50,01,000)
- Date of Transaction: 21st October 2024
- Land Area: 1,839 sq. meters
The firm acquired the bungalow from Rangoli Resorts, where Sheela Foam executive chairman Rahul Gautam and his family members are directors. Sheela Foam sells mattresses and comfort accessories under brands like Sleepwell. When contacted, DLF refused to comment on the acquisition.
Another notable deal took place at 7, Hailey Road, New Delhi, where Trinity Buildcon India Pvt Ltd, a well-established real estate developer, sold a property to Rangoli Resort Pvt Ltd. The deal was valued at Rs 165 crore, with the stamp duty amounting to Rs 11.55 crore. The property spans 1,486 square meters and is situated in one of the most coveted locations in the city.
Transaction Overview:
Seller: Trinity Buildcon India Pvt Ltd
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Buyer: Rangoli Resort Pvt Ltd
Transaction Value: Rs 165 Crore (Rs 1,65,00,00,000)
Stamp Duty: Rs 11.55 Crore (Rs 11,55,00,000)
Date of Transaction: 4th October 2024
Land Area: 1,486 sq. meters
"Owning a villa in Delhi Luyten’s is probably the first rule if you want to play the game of luxury homes in India. DLF Homes have performed exceedingly well in year 2024 with great launches and sales in Gurgaon. For the time since Indian independence, Gurgaon has beaten Mumbai in total quantum of luxury housing sales," said Abhishek Kiran Gupta, CEO & Cofounder, CRE Matrix & IndexTap.com.
In fact the demand for luxury homes in India, particularly those priced at Rs 4 crore and above, saw a remarkable surge in 2024, with sales rising by 53% across seven major cities. According CBRE, Delhi-NCR region emerged as the largest market for luxury homes, recording a substantial rise in sales. In 2024, the region saw 10,500 units sold, compared to just 5,525 units in the previous year.
This sharp uptick highlights the growing demand for high-end real estate in the national capital region, driven by both affluent buyers and NRIs (Non-Resident Indians) seeking prime properties.