Record-Breaking Rs 1,100 Crore Deal for Historic Bungalow

A recent property transaction in New Delhi has captured significant attention, as a businessman has acquired the historic bungalow formerly owned by India’s first Prime Minister, Jawaharlal Nehru, for a staggering Rs 1,100 crore. This deal marks one of the most expensive property transactions in the country’s history, highlighting the ongoing demand for prime real estate in the capital.

The bungalow, located at 17 Motilal Nehru Marg in the prestigious “Lutians Zone,” spans approximately 14,973 square meters (about 3.7 acres). Its historical significance and prime location have made it a sought-after property for many years. Initially listed for around Rs 1,400 crore, negotiations led to a final purchase price of Rs 1,100 crore.

Historic Significance and Ownership

The property, designed by British architect Edwin Lutians between 1912 and 1930, is situated in an area known for its elite residences. The current owners, Princess Kakkad and Bina Rani, are associated with the royal family of Rajasthan. They have been managing the property, which is a blend of historical architecture and modern luxury, since its acquisition.

A notice issued regarding the sale indicates that the new owner is exploring the property’s legal status, inviting any claims to be submitted within seven days. This process is typical for high-value transactions, ensuring transparency and legitimacy in ownership claims.

Business Impact and Future Plans

The businessman behind this record deal is reportedly a prominent figure in India’s Beverage Industry. While specific plans for the bungalow have yet to be disclosed, the acquisition of such a notable heritage site raises questions about its future use. Given the property’s legacy, it is likely to draw interest from various sectors, potentially leading to developments that honor its historical significance.

With its vast living space of approximately 24,000 square feet and expansive grounds, the bungalow offers considerable potential for luxury renovations or cultural initiatives. The sale underscores the ongoing trend of wealthy individuals investing in historic properties, reflecting a blend of financial investment and cultural preservation.

As real estate values in New Delhi continue to soar, this transaction serves as a reminder of the allure of prime properties in the capital. The debate surrounding the future of such significant sites is likely to persist, drawing interest from both the public and private sectors.

The acquisition not only marks a new chapter for the bungalow but also reinforces the status of New Delhi as a hub for high-value property transactions. The implications of this deal will resonate throughout the real estate market, highlighting the intersection of history, wealth, and urban development in one of the world’s most dynamic cities.