Delhi's luxury real estate hits new high with historic bungalows
Delhi's high-end real estate scene is making headlines with two jaw-dropping deals in the works.
A historic 3.2-acre bungalow on Bhagwan Das Road, owned by Maharaja Manujendra Shah, is being negotiated for around ₹1,000 crore.
At the same time, Jawaharlal Nehru's first official residence, the Motilal Nehru Road bungalow, could go for nearly ₹1,111 crore.
Both estates sit in the Lutyens's Bungalow Zone
Both estates sit in the Lutyens's Bungalow Zone, famous for its ultra-exclusive addresses and strict building rules.
These homes aren't just about space or history—they're seen as "trophy assets" sought by a select group of ultra-high-net-worth individuals.
As Shveta Jain from Savills India puts it, "The full Floor Space Index cannot be commercially exploited, change of land use (CLU) is not permitted, and strict height caps apply. These estates are largely for end use, trophy assets sought by a select group of ultra-high-net-worth individuals."
With prices smashing previous records (which used to top out at ₹500-600 crore), Delhi's luxury property market is clearly having a moment.