Ameera Sushil Shah, Managing Director of Metropolis Lab has bought a 9896 square feet bungalow at Delhi’s Sunder Nagar for Rs 64 crore.
According to documents accessed by CRE Matrix, a real estate data analytics firm, Star hotel PVR Ltd has sold the bungalow and property has been registered on October 31.
Sunder Nagar has emerged as a preferred destination for HNIs and many have purchased bungalows in the tony Lutyens enclave since Covid struck.
Shah has paid Rs 2.56 crore stamp duty for the registration of the property.
Former Solicitor General of India Gopal Subramanium has recently bought a sprawling 866 square yard bungalow at Lutyens’ Delhi’s Sunder Nagar locality for Rs 85 crore.
“Sunder Nagar has seen a spate of transactions post covid due to proximity to central Delhi and availability of bungalow. Prices have fluctuated a lot but many properties are still available at good price,” said a property consultant.
Recently, a bungalow in New Delhi’s Sunder Nagar, which was owned by six members of a family, was sold for about Rs 80 crore.
Two sprawling plots in Delhi’s Sunder Nagar area were sold for about Rs 130 crore.
Lutyens Bungalow Zone (LBZ), spread over 28 sq. km., has about 3,000 bungalows meant for top ministers, judges and government officials. There are about 600 private homes owned by some of India’s wealthiest people. This zone was developed by British architect Edwin Lutyens between 1912 and 1930.
Central and South Delhi continue to be the most sought-after property destinations.
The growth of the segment is especially prevalent in the Delhi-NCR market, where some of the best properties where many developers are effectively delivering world-class; and a ‘close to nature’ living experience.
Wealthy businessmen and executives are looking for sprawling properties after being home-bound during the lockdowns last year and now.