Subhash Chandra Sells Lutyens’ Delhi Bungalow for Rs 1,260 Crore in Landmark Property Deal
Essel Group Chairman Subhash Chandra has sold his nearly 3-acre Bhagwan Das Road bungalow in Lutyens’ Delhi for Rs 1,260 crore, highlighting soaring demand for ultra-prime properties.
- Prime Lutyens’ Delhi bungalow sold for Rs 1,260 crore
- Property value rose more than four times since 2015 purchase
- Deal underscores growing demand for ultra-luxury real estate in Delhi-NCR
New Delhi: Essel Group Chairman Subhash Chandra has reportedly sold his nearly 3-acre bungalow on Bhagwan Das Road in Lutyens’ Delhi for Rs 1,260 crore, making it one of the most expensive real estate transactions in India in recent years. The deal involves a prime residential property located close to Connaught Place and India Gate and is expected to be completed by the first week of December. The transaction highlights the growing value of ultra-premium properties in the national capital.
Sources familiar with the matter said the bungalow has been acquired by a Delhi-based business family, although the identity of the buyer has not been disclosed. The property is situated on the same prestigious road where a company belonging to the Adani Group reportedly purchased another plot in 2020 for around Rs 400 crore. The latest transaction demonstrates how property prices in Lutyens’ Delhi have surged over the past decade.
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A spokesperson for the Zee Group declined to comment on the reported sale. According to market sources, Chandra had acquired the property in 2015 for approximately Rs 304 crore. The reported sale price of Rs 1,260 crore represents a gain of more than four times the original investment, reflecting the strong appreciation seen in Delhi’s most exclusive residential enclave.
The deal further strengthens Lutyens’ Delhi’s reputation as one of the country’s most sought-after real estate markets. The Lutyens Bungalow Zone (LBZ), home to around 3,000 bungalows, remains a preferred destination for business leaders, industrialists, and high-net-worth individuals. Of these properties, roughly 600 are privately owned, making such transactions rare and highly significant.
The sale also comes amid a broader boom in India’s luxury housing market. High-value transactions have increased across Delhi-NCR, particularly in Lutyens’ Delhi and Gurugram’s Golf Course Road. With luxury residences continuing to attract wealthy buyers and investors, industry experts expect demand for trophy assets in premium locations to remain strong in the coming years.
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