Eleannt Enterprises has successfully purchased a 1,280-square yard plot in Vasant Vihar for Rs 95 crore, marking one of the most expensive land transactions in South Delhi. The real estate firm, based in South Delhi, has also incurred Rs 6.65 crore in stamp duty and corporation tax, as per the sale deed reviewed.
Lokeshh Goyal, the director of Eleannt Enterprises, chose not to comment on the transaction. Pradeep Prajapati, founder of the boutique real estate consultancy Wealthvisory Capital, noted that securing a plot in South Delhi is quite rare due to limited availability, with numerous builders seeking plots to develop four floors for independent sale.
Recently, the Golden Growth Fund (GGF), a Category-II real estate-focused alternative investment fund (AIF), acquired a land parcel in Neeti Bagh, projecting a revenue potential of Rs 100 crore from the sale of boutique apartments aimed at high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs). The AIF, which was launched in September 2024 with a goal to raise Rs 400 crore for land acquisitions in South and Lutyens Delhi, had previously secured a land parcel in Anand Niketan in October of the previous year.
According to industry data, the real estate market in South Delhi, one of India’s most affluent areas, is valued at Rs 5.65 lakh crore across 42 MCD regulated colonies, with both occupied and vacant plots in Category A and B colonies comprising the majority of this value.
Approximately 18,446 plots are available across the 42 Category A and C colonies in South Delhi, with sizes ranging from 125 square yards to 1,750 square yards. The average price per square yard is reported to be between Rs 6 lakh and Rs 15 lakh. The Municipal Corporation of Delhi (MCD) has classified all colonies in Delhi into eight categories: A, B, C, D, E, F, G, and H. The rates for circle rates, property taxes, and stamp duty for property registration are determined based on these categories.
The most desirable Category A and B colonies are primarily located in South Delhi. There are approximately 3,704 plots available in the 13 Category A colonies, with sizes varying from 200 square yards to 1,200 square yards, while around 12,720 plots can be found in the 27 Category B colonies, with sizes from 125 square yards to 1,750 square yards.
Notable Category A and B colonies include Mayfair Garden, Panchsheel Park N Block, Panchsheel Park S & E Blocks, Sadhana Enclave, Anand Niketan, Vasant Vihar, Shanti Niketan, Westend, Chanakyapuri, Golf Links, Jor Bagh, Sundar Nagar, Maharani Bagh, Chirag Enclave, GK, Green Park, Gulmohar Park, and Niti Bagh, among others.