Nehru's former bungalow in Lutyens' Delhi sold for ₹1,100 crore
What's the story
A historic bungalow in Lutyens Bungalow Zone (LBZ), Delhi, once the official residence of India's first Prime Minister Jawaharlal Nehru, has been sold for a staggering ₹1,100 crore. The property is located at 17 York Road (now Motilal Nehru Marg) and is one of the most valuable addresses in the capital. The deal was reportedly finalized after negotiations from an initial asking price of ₹1,400 crore.
Ownership details
Current owners and buyer details
The current owners of the bungalow are Rajkumari Kakkar and Beena Rani, members of a Rajasthani royal family. The estate covers an area of 14,973 square meters (approximately 3.7 acres) with a built-up area of 24,000 square feet. The identity of the buyer is not publicly known yet, but reports suggest that it is a prominent Indian industrialist from the beverage sector.
Legal proceedings
Due diligence and public notice
The acquisition process is in its final stages, with a top law firm conducting due diligence on the property's legal title. A public notice was issued by the legal representatives inviting any claims to the property within seven days. If no claims are received, it will be assumed that no other claims exist against this historic property.
Historic value
Significance of the property
Designed by British architect Edwin Lutyens between 1912 and 1930, LBZ is Delhi's most exclusive and expensive area. It spans approximately 28 square kilometers. Most of its approximately 3,000 bungalows are government-allotted residences for ministers and judges. However, around 600 properties are privately owned by some of India's richest families and business tycoons.