Rs 1,000 Crore Lutyens’ Delhi Bungalow Deal Underway

• 3.2-acre Bhagwan Das Road estate valued at around Rs 1,000 crore

• Public notice issued as part of final legal due diligence

• Deal could rank among the biggest trophy property transactions in Delhi

A high-value property transaction worth nearly Rs 1,000 crore is taking shape in the prestigious Lutyens’ Bungalow Zone (LBZ), one of India’s most exclusive residential enclaves.

According to people familiar with the matter, Manujendra Shah, Maharaja of Tehri Garhwal, is in advanced discussions to sell his sprawling 3.2-acre bungalow on Bhagwan Das Road to a Delhi-based entrepreneur with significant interests in the food and beverage sector.

While the identity of the prospective buyer remains undisclosed, sources indicate that this could be his second landmark acquisition in central Delhi. He is reportedly also in talks to acquire Jawaharlal Nehru’s first official residence for over Rs 1,100 crore.

Legal Due Diligence Underway

As part of the transaction process, a leading law firm representing the buyer has issued a public notice — a standard final step in property due diligence. The notice calls upon any individual or entity with claims over the Bhagwan Das Road property to submit documentary proof within a stipulated period.

The notice stated that the client is interested in acquiring the residential property and is examining the ownership title of the current owner, Manujendra Shah. Such public notices are customary in high-value real estate deals to ensure clear and undisputed ownership before closure.

Why This Deal Matters

Properties in Lutyens’ Delhi are often referred to as “trophy assets.” These bungalows rarely come to market, and when they do, they tend to set new pricing benchmarks for ultra-luxury real estate in India.

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

Most of these properties are government-owned and occupied by ministers, judges, senior bureaucrats and diplomats. Around 600 bungalows are privately held — largely by industrialists, business families, and erstwhile royal families — making ownership in this enclave exceptionally rare.

Recent Big-Ticket Transactions

If completed, the Tehri Maharaja’s sale would join a series of major transactions in Lutyens’ Delhi and surrounding elite neighbourhoods:

• In June 2025, Gentex Merchants Pvt Ltd, linked to steel magnate Lakshmi Mittal, acquired a 3,540-square yard bungalow on APJ Abdul Kalam Road for Rs 310 crore. The property originally belonged to the Alwar royal family.

• Earlier this year, Sanjay Kukreja of ChrysCapital and his wife Shaveta Sharma purchased a bungalow in Golf Links for Rs 155 crore.

• A bungalow on Feroze Shah Road, owned by Kusum Ansal, was sold for Rs 241 crore to a Gujarat-based firm.

Real estate consultants say such transactions underline sustained demand for legacy properties in central Delhi, particularly among ultra-high-net-worth individuals seeking prestige, privacy and long-term asset security.

If the Bhagwan Das Road deal closes near the expected valuation, it will further cement Lutyens’ Delhi’s position as India’s most powerful and prestigious residential address.