Vasudha Rohatgi, wife of former Attorney General of India Mukul Rohatgi, has bought a 2,100-square-yard bungalow at Delhi’s Golf Links for Rs 160 crore, documents accessed showed.
The family has paid Rs 6.4 crore in stamp duty for the property, whose registration was made on February 23.
With the purchase, Rohatgi joins the ranks of several corporate leaders who have bought properties in posh Delhi areas.
Golf Links has emerged as a particular favourite with HNIs. Prices have remained firm as availability is minuscule.
When contacted over the phone, Mukul Rohatgi declined to comment on the deal.
Last year, former Solicitor General of India Gopal Subramanium bought a sprawling 866-square-yard bungalow at Lutyens’ Delhi’s Sunder Nagar locality for Rs 85 crore.
Recently, Rategain founder Bhanu Chopra bought an 850-square-meter bungalow at Delhi’s Golf Links for Rs 127.5 crore.
“High-value properties continue to be in demand, and multiple transactions have proved that. There is no impact of inflation or slowdown, and we will continue to see a surge in demand due to the gap between demand and supply,” said Pradeep Prajapati, a luxury-segment real estate consultant.
Earlier, Maxop Engineering director Shailesh Arora purchased a 575-square-yard bungalow in Golf Links for Rs 68.5 crore. Pawan Agarwal, deputy managing director of DB Group (Dainik Bhaskar), had also bought a 575-square-yard bungalow in the same area for Rs 75 crore.
Sunil Vachani, chairman of Dixon Technologies, and Vishwavir Ahuja, former chairman and managing director of RBL Bank, are among those who have bought bungalows in Golf Links after the pandemic.
Over 75% of high-net-worth and ultra-high-net-worth individuals believe real estate will do well over the next two to three years, and a similar percentage (74%) of respondents consider real estate an important asset to hedge against inflation, according to the annual Luxury Outlook Survey 2023 by India Sotheby’s International Realty (ISIR).
Real estate continues to remain an attractive investment option, with 61% of HNIs and UHNIs looking to buy real estate in 2023–24. High-rise apartments (34%), closely followed by farmhouses and vacation homes (30%), are among the most preferred by affluent investors. Rent-yielding commercial real estate is also in demand, as 23% of the HNI respondents said they would like to invest in it.